Jefferies Financial Group Cuts Best Buy (NYSE:BBY) Price Target to $89.00

Best Buy (NYSE:BBY) had its price target decreased by Jefferies Financial Group from $94.00 to $89.00 in a report released on Monday morning,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the technology retailer’s stock.

BBY has been the subject of several other research reports. Piper Sandler lifted their price target on shares of Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. cut shares of Best Buy from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $99.00 to $76.00 in a research note on Monday, February 2nd. Evercore dropped their target price on shares of Best Buy from $80.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, February 3rd. Loop Capital increased their price target on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Truist Financial decreased their price objective on Best Buy from $77.00 to $73.00 and set a “hold” rating for the company in a research note on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.80.

Best Buy Stock Down 1.4%

Shares of BBY opened at $67.08 on Monday. The business’s 50 day simple moving average is $69.18 and its 200-day simple moving average is $73.24. Best Buy has a one year low of $54.99 and a one year high of $91.68. The company has a market capitalization of $14.05 billion, a P/E ratio of 22.21, a PEG ratio of 1.62 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26.

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

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s dividend payout ratio is presently 125.83%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBY. Harbor Capital Advisors Inc. lifted its position in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Best Buy in the 4th quarter valued at about $25,000. Palisade Asset Management LLC bought a new stake in shares of Best Buy in the third quarter valued at about $25,000. Hillsdale Investment Management Inc. acquired a new position in shares of Best Buy during the fourth quarter worth about $29,000. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of Best Buy by 239.2% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Company Profile

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.