Best Buy Co. Inc. (BBY) Looks Ready for Growth Despite -0.71% Change This Year

Best Buy Co. Inc. (NYSE: BBY) is -0.71% lower on its value in year-to-date trading and has touched a low of $48.10 and a high of $91.99 in the current 52-week trading range. The BBY stock was last observed hovering at around $87.18 in the recent trading session, with the current loss setting it -2.6%.

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At last check, trading at $84.58, the stock is 0.71% and 4.72% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.61 million and changing -2.98% at the moment leaves the stock 9.62% off its SMA200. BBY registered 21.32% gain for a year compared to 6-month loss of -1.39%. The firm has a 50-day simple moving average (SMA 50) of $82.27 and a 200-day simple moving average (SMA200) of $78.34.

The stock witnessed a 4.18% gain in the last 1 month and extending the period to 3 months gives it a 41.18%, and is -0.10% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.40% over the week and 3.35% over the month.

Best Buy Co. Inc. (BBY) has around 125000 employees, a market worth around $22.49B and $43.06B in sales. Current P/E ratio is 16.12 and Fwd P/E is 14.23. Profit margin for the company is 3.30%. Distance from 52-week low is 75.82% and -8.06% from its 52-week high. The company has generated returns on investments over the last 12 months (32.80%).

Best Buy Co. Inc. (BBY) Analyst Forecasts

Best Buy Co. Inc. is expected to release its quarterly report on 09/01/2020 and quarterly earnings per share for the current quarter are estimated at $0.77 with sales reaching $9B over the same period.The EPS is expected to grow by 8.80% this year, but quarterly earnings will post -3.20% year-over-year. Quarterly sales are estimated to shrink -5.70% in year-over-year returns.

Best Buy Co. Inc. (BBY) Top Institutional Holders

968 institutions hold shares in Best Buy Co. Inc. (BBY), with 38.34M shares held by insiders accounting for 14.84% while institutional investors hold 95.86% of the company’s shares. The shares outstanding are 258.30M, and float is at 228.74M with Short Float at 3.14%. Institutions hold 81.63% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 27.68 million shares valued at $1.58 billion. The investor’s holdings represent 10.75% of the BBY Shares outstanding. As of Mar 30, 2020, the second largest holder is Blackrock Inc. with 18.6 million shares valued at $1.06 billion to account for 7.22% of the shares outstanding. The other top investors are FMR, LLC which holds 17.88 million shares representing 6.94% and valued at over $1.02 billion, while State Street Corporation holds 4.37% of the shares totaling 11.26 million with a market value of $641.7 million.

Best Buy Co. Inc. (BBY) Insider Activity

A total of 137 insider transactions have happened at Best Buy Co. Inc. (BBY) in the last six months, with sales accounting for 88 and purchases happening 49 times. The most recent transaction is an insider sale by SCHULZE RICHARD M, the company’s 10% Owner. SEC filings show that SCHULZE RICHARD M sold 260,000 shares of the company’s common stock on Jun 30 at a price of $87.26 per share for a total of $22.69 million. Following the sale, the insider now owns 0.52 million shares.

Best Buy Co. Inc. disclosed in a document filed with the SEC on Jun 29 that SCHULZE RICHARD M (10% Owner) sold a total of 449,204 shares of the company’s common stock. The trade occurred on Jun 29 and was made at $86.18 per share for $38.71 million. Following the transaction, the insider now directly holds 0.65 million shares of the BBY stock.

Still, SEC filings show that on Jun 26, SCHULZE RICHARD M (10% Owner) disposed off 290,796 shares at an average price of $85.59 for $24.89 million. The insider now directly holds 877,167 shares of Best Buy Co. Inc. (BBY).

Best Buy Co. Inc. (BBY): Who are the competitors?

The company’s main competitors (and peers) include VOXX International Corporation (VOXX) that is 33.49% higher over the past 12 months. Apple Inc. (AAPL) is 89.51% up on the 1-year trading charts. Short interest in the company’s stock has risen 10.04% from the last report on May 14, 2020 to stand at a total of 6.45 million short shares sold with a short interest ratio of 2.18.

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