Deutsche Bank AG Reaffirms “Buy” Rating for Best Buy Co., Inc. (BBY)
Deutsche Bank AG reissued their buy rating on shares of Best Buy Co., Inc. (NYSE:BBY) in a research report sent to investors on Thursday morning, The Fly reports.
A number of other research analysts have also recently issued reports on BBY. Loop Capital reissued a buy rating and issued a $72.00 target price on shares of Best Buy Co. in a research note on Saturday, July 22nd. SunTrust Banks, Inc. set a $70.00 target price on Best Buy Co. and gave the company a buy rating in a research note on Saturday, July 22nd. BidaskClub raised Best Buy Co. from a hold rating to a buy rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies reissued a buy rating and issued a $70.00 target price on shares of Best Buy Co. in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a hold rating and issued a $60.00 target price on shares of Best Buy Co. in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $58.86.
Best Buy Co. (BBY) traded up $0.58 during trading hours on Thursday, reaching $55.83. The company’s stock had a trading volume of 5,160,200 shares, compared to its average volume of 4,139,236. Best Buy Co. has a 1 year low of $41.67 and a 1 year high of $63.32. The company has a current ratio of 1.25, a quick ratio of 0.69 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $16,703.50, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.15 and a beta of 1.42.
Best Buy Co. (NYSE:BBY) last posted its earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Best Buy Co. had a return on equity of 28.46% and a net margin of 3.09%. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.36 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. equities analysts expect that Best Buy Co. will post 4.04 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.44%. Best Buy Co.’s dividend payout ratio is 34.34%.
In other Best Buy Co. news, CEO Hubert Joly sold 106,942 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total value of $5,847,588.56. Following the sale, the chief executive officer now owns 645,222 shares in the company, valued at $35,280,738.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $59.92, for a total value of $47,157.04. Following the completion of the sale, the chief financial officer now owns 54,159 shares in the company, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. Insiders sold 166,259 shares of company stock worth $9,182,693 in the last 90 days. Corporate insiders own 1.21% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BBY. Thrivent Financial For Lutherans raised its stake in Best Buy Co. by 4.1% in the first quarter. Thrivent Financial For Lutherans now owns 9,885 shares of the technology retailer’s stock valued at $486,000 after buying an additional 390 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Best Buy Co. by 23.6% during the second quarter. Eqis Capital Management Inc. now owns 7,400 shares of the technology retailer’s stock worth $424,000 after purchasing an additional 1,411 shares during the period. Aperio Group LLC increased its stake in shares of Best Buy Co. by 15.6% during the second quarter. Aperio Group LLC now owns 165,483 shares of the technology retailer’s stock worth $9,487,000 after purchasing an additional 22,375 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Best Buy Co. during the second quarter worth approximately $672,000. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO bought a new position in shares of Best Buy Co. during the second quarter worth approximately $1,534,000. Hedge funds and other institutional investors own 87.52% of the company’s stock.
Best Buy Co. Company Profile
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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