Best Buy Co Inc (BBY) Files Form 4 Insider Selling : Hubert Joly Sells 398,000 Shares

Best Buy Co Inc (BBY): Hubert Joly , Chairman & CEO of Best Buy Co Inc sold 398,000 shares on Jun 2, 2016. The Insider selling transaction was reported by the company on Jun 3, 2016 to the Securities and Exchange Commission. The shares were sold at $32.24 per share for a total value of $12830366 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 1, 2016, Mathew Watson (VP, Finance – Contr. & CAO) sold 1,363 shares at $32.10 per share price.On Mar 11, 2016, Sharon Mccollam (Chief Admin Officer & CFO) sold 511,897 shares at $34.15 per share price.Also, On Mar 4, 2016, Shari L Ballard (Pres, U.S. Retail & CHRO) sold 184,986 shares at $32.99 per share price.On Oct 15, 2015, Richard M Schulze (10% owner) sold 197,500 shares at $37.23 per share price.

Shares of Best Buy Co Inc (BBY) ended Friday, Jun 3, 2016 session in red amid volatile trading. The shares closed down -0.11 points or -0.34% at $32.35 with 28,86,747 shares getting traded. Post opening the session at $32.36, the shares hit an intraday low of $31.79 and an intraday high of $32.48 and the price vacillated in this range throughout the day. The company has a market cap of $10,460 M and the number of outstanding shares has been calculated to be 32,33,47,680 shares. The 52-week high of Best Buy Co Inc is $39.095 and the 52-week low is $25.31.

Best Buy Co Inc Money Flow Index Chart

On May 25, 2016, Best Buy Co Inc announced a cash dividend of $0.2800. The company’s management has announced Jun 10, 2016 as the ex-dividend date and fixed the record date on Jun 14, 2016. The payable date has been fixed on Jul 5, 2016.

Company has been under the radar of several Street Analysts.Best Buy Co Inc is Reiterated by Telsey Advisory Group to Outperform while Lowering the Price Target of the company shares to $ 36 from a previous price target of $38 . The Rating was issued on May 25, 2016.Best Buy Co Inc is Downgraded by Deutsche Bank to Hold while Lowering the Price Target of the company shares to $ 32 from a previous price target of $38 . Earlier the firm had a rating of Buy on the company shares. The Rating was issued on May 25, 2016.Best Buy Co Inc is Downgraded by Citigroup to Neutral. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on May 24, 2016.Best Buy Co Inc is Initiated by Barclays to Overweight and the brokerage firm has set the Price Target at $45. The Rating was issued on Mar 31, 2016.

Best Buy Co. Inc. is a provider of technology products services and solutions. The Company offers service to the consumers small business owners and educators who visit its stores engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories operating e-commerce retail store and call center operations under a range of brand names including Best Buy (bestbuy.com) Best Buy Mobile Geek Squad Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition the Company operates Magnolia Home Theater Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

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Best Buy Co Inc - Is it time to Sell?

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