Best Buy Co. Inc. (NYSE: BBY) is 5.45% higher on its value in year-to-date trading and has touched a low of $62.30 and a high of $86.11 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BBY stock was last observed hovering at around $80.14 in the last trading session, with the day’s gains setting it 2.41%.
Currently trading at $82.55, the stock is 4.01% and 6.86% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.37 million and changing 3.01% at the moment leaves the stock 10.09% off its SMA200. BBY registered 9.95% gain for a year compared to 6-month gain of 20.06%. The firm has a 50-day simple moving average (SMA 50) of $0.47 and a 200-day simple moving average (SMA200) of $7.83.
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The stock witnessed a 5.05% loss in the last 1 month and extending the period to 3 months gives it a 9.28%, and is 2.97% up 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 2.31% over the week and 2.41% over the month.
Best Buy Co. Inc. (BBY) has around 85000 employees, a market worth around $17.78B and $43.45B in sales. Current P/E ratio is 14.51 and Fwd P/E is 12.29. Profit margin for the company is 2.86%. Distance from 52-week low is 32.50% and -4.13% from its 52-week high. The company has generated returns on investments over the last 12 months (19.38%).
Best Buy Co. Inc. quarterly earnings per share for the current quarter are estimated at $1.08 with sales reaching $8.98B over the same period.The EPS is expected to shrink by -5.40% this year, but quarterly earnings will post -3.20% year-over-year.
Best Buy Co. Inc. (BBY) Top Institutional Holders
1,135 institutions hold shares in Best Buy Co. Inc. (BBY), with institutional investors hold 95.04% of the company’s shares. The shares outstanding are 215.40M, and float is at 192.65M with Short Float at 8.17%. Institutions hold 84.31% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 23.96 million shares valued at $1.96 billion. The investor’s holdings represent 11.01% of the BBY Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 20.39 million shares valued at $1.67 billion to account for 9.37% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 11.82 million shares representing 5.43% and valued at over $968.37 million, while State Street Corporation holds 4.63% of the shares totaling 10.08 million with a market value of $825.69 million.
Best Buy Co. Inc. (BBY) Insider Activity
The most recent transaction is an insider sale by Barry Corie S,the company’sCEO. SEC filings show that Barry Corie S sold 28,042 shares of the company’s common stock on Mar 22 ’24 at a price of $81.80 per share for a total of $2.29 million. Following the sale, the insider now owns 0.43 million shares.
Best Buy Co. Inc. disclosed in a document filed with the SEC on Mar 22 ’24 that Bilunas Matthew M (SEVP Enterprise Strategy & CFO) sold a total of 8,258 shares of the company’s common stock. The trade occurred on Mar 22 ’24 and was made at $81.80 per share for $0.68 million. Following the transaction, the insider now directly holds 90694.0 shares of the BBY stock.
Still, SEC filings show that on Mar 22 ’24, Bonfig Jason J (SEVP Cust. Offerings & Fulfill) disposed off 7,117 shares at an average price of $81.80 for $0.58 million. The insider now directly holds 53,882 shares of Best Buy Co. Inc. (BBY).
