Best Buy Co. (BBY) To Go Ex-Dividend on December 6th
Best Buy Co. (NYSE:BBY) declared a quarterly dividend on Friday, November 18th. Stockholders of record on Thursday, December 8th will be paid a dividend of 0.28 per share by the technology retailer on Thursday, December 29th. This represents a $1.12 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Tuesday, December 6th.
Best Buy (NYSE:BBY) opened at 45.70 on Thursday. The stock has a 50 day moving average price of $40.89 and a 200 day moving average price of $35.73. Best Buy has a 12 month low of $25.31 and a 12 month high of $47.29. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of 13.64 and a beta of 1.51.
Best Buy (NYSE:BBY) last issued its earnings results on Thursday, November 17th. The technology retailer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.15. Best Buy had a return on equity of 24.18% and a net margin of 2.78%. The firm had revenue of $8.95 billion for the quarter, compared to the consensus estimate of $8.85 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities analysts expect that Best Buy will post $3.27 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of BBY. Massachusetts Financial Services Co. MA increased its position in Best Buy by 40.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,814,209 shares of the technology retailer’s stock worth $116,715,000 after buying an additional 1,095,720 shares during the period. American Century Companies Inc. increased its position in Best Buy by 3,138.8% in the second quarter. American Century Companies Inc. now owns 552,154 shares of the technology retailer’s stock worth $16,896,000 after buying an additional 535,106 shares during the period. Nomura Holdings Inc. increased its position in Best Buy by 103.9% in the second quarter. Nomura Holdings Inc. now owns 15,939 shares of the technology retailer’s stock worth $487,000 after buying an additional 422,818 shares during the period. Point72 Asset Management L.P. bought a new position in Best Buy during the second quarter worth $11,249,000. Finally, BlackRock Inc. increased its position in Best Buy by 56.8% in the second quarter. BlackRock Inc. now owns 944,071 shares of the technology retailer’s stock worth $28,888,000 after buying an additional 342,083 shares during the period. 86.45% of the stock is currently owned by institutional investors.
BBY has been the subject of a number of analyst reports. Zacks Investment Research cut Best Buy from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, October 25th. Vetr raised Best Buy from a “hold” rating to a “buy” rating and set a $39.59 price target for the company in a research report on Thursday, September 8th. Barclays PLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Best Buy in a research report on Tuesday, August 23rd. Bank of America Corp. raised Best Buy from an “underperform” rating to a “neutral” rating in a research report on Thursday, November 17th. Finally, Wedbush reaffirmed a “buy” rating and issued a $20.50 price target on shares of Best Buy in a research report on Wednesday, August 17th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.64.
About Best Buy
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.
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