Analysts Set Best Buy Co., Inc. (NYSE:BBY) PT at $84.11

Shares of Best Buy Co., Inc. (NYSE:BBY) have been given a consensus recommendation of “Hold” by the twenty-three analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $83.8947.

A number of analysts have recently weighed in on the company. Telsey Advisory Group raised their price objective on Best Buy from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. UBS Group raised their price target on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Piper Sandler boosted their price target on Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Truist Financial set a $77.00 price objective on shares of Best Buy in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Best Buy from $97.00 to $99.00 in a research note on Tuesday, November 25th.

Insider Activity

In related news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the transaction, the chairman owned 12,486,904 shares in the company, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 1,534,993 shares of company stock valued at $126,626,855. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the third quarter worth about $25,000. Harbor Capital Advisors Inc. raised its position in Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after buying an additional 138 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in Best Buy during the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new stake in Best Buy during the 3rd quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Best Buy in the 2nd quarter valued at $33,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Down 1.7%

Shares of Best Buy stock opened at $70.61 on Thursday. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market cap of $14.80 billion, a P/E ratio of 23.38, a PEG ratio of 1.79 and a beta of 1.41. The firm’s 50 day moving average price is $74.02 and its 200-day moving average price is $73.64. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.68.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. Best Buy’s revenue for the quarter was up 2.4% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, sell-side analysts predict that Best Buy will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.4%. Best Buy’s payout ratio is 125.83%.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.