Best Buy Co Inc (BBY) SVP Mathew Watson Sells 380 Shares

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Best Buy Co Inc (NYSE:BBY) SVP Mathew Watson sold 380 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $68.79, for a total value of $26,140.20. Following the sale, the senior vice president now owns 20,206 shares of the company’s stock, valued at $1,389,970.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Mathew Watson also recently made the following trade(s):

  • On Thursday, February 28th, Mathew Watson sold 1,000 shares of Best Buy stock. The stock was sold at an average price of $69.99, for a total value of $69,990.00.

Shares of NYSE BBY traded up $0.78 during mid-day trading on Friday, hitting $69.63. The company had a trading volume of 6,813,967 shares, compared to its average volume of 3,647,688. The stock has a market cap of $18.52 billion, a P/E ratio of 13.09, a PEG ratio of 1.11 and a beta of 0.94. The company has a current ratio of 1.18, a quick ratio of 0.46 and a debt-to-equity ratio of 0.40. Best Buy Co Inc has a 1-year low of $47.72 and a 1-year high of $84.37.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Wednesday, February 27th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.15. The business had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.69 billion. Best Buy had a return on equity of 46.33% and a net margin of 3.41%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $2.42 earnings per share. On average, equities analysts forecast that Best Buy Co Inc will post 5.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 20th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, March 19th. This is a positive change from Best Buy’s previous quarterly dividend of $0.45. Best Buy’s dividend payout ratio is 33.83%.

Best Buy declared that its board has approved a stock repurchase plan on Wednesday, February 27th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the technology retailer to buy up to 18.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Large investors have recently bought and sold shares of the stock. Signet Investment Advisory Group Inc. purchased a new position in shares of Best Buy during the fourth quarter worth about $31,000. Larson Financial Group LLC purchased a new stake in shares of Best Buy during the 4th quarter valued at $33,000. Semmax Financial Advisors Inc. purchased a new stake in shares of Best Buy during the 4th quarter valued at $33,000. PRW Wealth Management LLC purchased a new stake in shares of Best Buy during the 4th quarter valued at $33,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Best Buy during the 4th quarter valued at $34,000. 82.76% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on BBY shares. Credit Suisse Group set a $70.00 price target on Best Buy and gave the company a “hold” rating in a research report on Wednesday, November 21st. Deutsche Bank restated a “buy” rating on shares of Best Buy in a research note on Friday, January 11th. Zacks Investment Research upgraded Best Buy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Wedbush upgraded Best Buy from an “underperform” rating to a “neutral” rating and set a $65.00 price target on the stock in a research note on Wednesday, November 21st. Finally, Moffett Nathanson upgraded Best Buy from a “sell” rating to a “neutral” rating in a research note on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $76.33.

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Best Buy Company Profile

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

Further Reading: Capital gains and your 401(k) or IRA

Insider Buying and Selling by Quarter for Best Buy (NYSE:BBY)

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