Best Buy Co. Inc.’s filing revealed that its Chairman Emeritus SCHULZE RICHARD M unloaded Company’s shares for reported $8.52 million on Jul 25. In the deal valued at $85.24 per share,100,000 shares were sold. As a result of this transaction, SCHULZE RICHARD M now holds 349,448 shares worth roughly $ 26.3 million.
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Then, Scarlett Kathleen sold 34,191 shares, generating $2,779,684 in total proceeds. Upon selling the shares at $81.30, the SEVP, HR, Corp Affair & Canada now owns 65,039 shares.
Before that, SCHULZE RICHARD M sold 250,000 shares. Best Buy Co. Inc. shares valued at $20,725,355 were divested by the Chairman Emeritus at a price of $82.90 per share. As a result of the transaction, SCHULZE RICHARD M now holds 390,148 shares, worth roughly $29.37 million.
Telsey Advisory Group downgraded its Best Buy Co. Inc. [BBY] rating to a Market perform from a an Outperform in a research note published on Friday, February 27, 2023; the price target was decreased to $83 from $88. PT values the company’s stock at a premium of 9.31 to its Friday closing price.
Price Performance Review of BBY
On Friday, Best Buy Co. Inc. [NYSE:BBY] saw its stock fall -1.54% to $75.27. On the same session, the stock had its day’s lowest price of $74.64, but rose to a high of $76.88. Over the last five days, the stock has gained 3.58%. Best Buy Co. Inc. shares have fallen nearly -6.16% since the year began. Nevertheless, the stocks have risen 6.48% over the past one year. While a 52-week high of $93.32 was reached on 02/02/23, a 52-week low of $60.78 was recorded on 05/24/23. SMA at 50 days reached $80.12, while 200 days put it at $79.13. A total of 2.61 million shares were traded, compared to the trading of 3.09 million shares in the previous session.
Levels Of Support And Resistance For BBY Stock
The 24-hour chart illustrates a support level at 74.31, which if violated will result in even more drops to 73.36. On the upside, there is a resistance level at 76.55. A further resistance level may holdings at 77.84. The Relative Strength Index (RSI) on the 14-day chart is 41.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.37%. Stochastics %K at 47.31% indicates the stock is a holding.
How much short interest is there in Best Buy Co. Inc.?
A steep rise in short interest was recorded in Best Buy Co. Inc. stocks on Aug 14, 2023, growing by 0.94 million shares to a total of 10.72 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 9.78 million shares. There was a rise of 8.77%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.36% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.71.
Best Buy Co. Inc. [BBY] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 23,121,513 shares, or roughly 10.60% of the outstanding BBY shares. In other words, the investor’s shares have fallen by -329,973 from its previous 13-F filing of 23451486.0. Additionally, BlackRock Fund Advisors increased 3.46% of its stake after which the total value it holdings stand at $1,025,686,768, while JPMorgan Investment Management, I added 15.01% of its stake to hold $844.43 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -76,564 shares of Best Buy Co. Inc., while T. Rowe Price Associates, Inc. sold -1,039,512 shares. At present, Charles Schwab Investment Managem is holding 4,411,989 shares valued at $366.42 million. Geode Capital Management LLC owned 4,258,309 shares of the company at the time of its most recent 13F filing, worth $353.65 million.
According to FactSet, Best Buy Co. Inc.’s share price will average $82.72 in the next year, based on opinions of analysts polled by the firm. This is up nearly 7.26 percent from its previous closing price of $76.45. Analysts expect Best Buy Co. Inc. stock to reach the higher price of $110.00, while the lowest price estimate is $70.00. However, 29 analysts have rated BBY stock as a Hold in their predictions for 2023.