Analysts Set Best Buy Co., Inc. (BBY) PT at $58.09
Shares of Best Buy Co., Inc. (NYSE:BBY) have earned an average recommendation of “Buy” from the twenty-five research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $58.09.
Several brokerages have recently commented on BBY. Loop Capital reiterated a “buy” rating and issued a $72.00 target price (up previously from $64.00) on shares of Best Buy Co. in a research report on Monday, June 5th. Barclays PLC reiterated a “buy” rating and issued a $65.00 target price on shares of Best Buy Co. in a research report on Monday, August 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $58.00 target price (down previously from $60.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. BidaskClub upgraded Best Buy Co. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. set a $70.00 target price on Best Buy Co. and gave the stock a “buy” rating in a research report on Saturday, July 22nd.
Shares of Best Buy Co. (NYSE BBY) traded up 0.23% during trading on Wednesday, reaching $56.96. The company had a trading volume of 2,691,133 shares. The company has a market capitalization of $17.04 billion, a P/E ratio of 15.07 and a beta of 1.48. Best Buy Co. has a 52-week low of $37.10 and a 52-week high of $63.32. The firm has a 50-day moving average price of $58.64 and a 200-day moving average price of $53.96.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same period in the previous year, the business earned $0.57 EPS. Best Buy Co.’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts predict that Best Buy Co. will post $4.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.36 dividend on an annualized basis and a yield of 2.39%. Best Buy Co.’s dividend payout ratio (DPR) is presently 35.88%.
In other news, CFO Corie S. Barry sold 787 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $59.92, for a total value of $47,157.04. Following the sale, the chief financial officer now owns 54,159 shares of the company’s stock, valued at approximately $3,245,207.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kathleen Scarlett sold 10,797 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $52.49, for a total value of $566,734.53. Following the completion of the sale, the insider now directly owns 25,690 shares in the company, valued at approximately $1,348,468.10. The disclosure for this sale can be found here. Insiders have sold a total of 163,125 shares of company stock valued at $9,003,240 in the last quarter. 1.21% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Spectrum Management Group Inc. raised its stake in shares of Best Buy Co. by 25.7% in the 2nd quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock worth $1,233,000 after buying an additional 4,405 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new stake in shares of Best Buy Co. in the 2nd quarter worth $1,534,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Best Buy Co. by 18.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock worth $4,794,000 after buying an additional 13,150 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Best Buy Co. by 9.1% in the 1st quarter. Geode Capital Management LLC now owns 3,494,964 shares of the technology retailer’s stock worth $171,592,000 after buying an additional 292,667 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Best Buy Co. by 23.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock worth $10,330,000 after buying an additional 34,345 shares in the last quarter. 88.11% of the stock is currently owned by institutional investors.
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About Best Buy Co.
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 has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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