Best Buy Co., Inc. (BBY) – What Are Brokerages Thinking About This Stock?

Best Buy Co., Inc. (NYSE:BBY) has been given a consensus recommendation of “Hold” by the twenty-one research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $87.35.

A number of research firms have recently commented on BBY. Jefferies Financial Group lowered shares of Best Buy from a “buy” rating to a “hold” rating and reduced their price target for the company from $89.00 to $85.00 in a research report on Wednesday, August 5th. DA Davidson raised shares of Best Buy from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 24th. Loop Capital downgraded Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price objective on the stock. in a research report on Monday, July 13th. Telsey Advisory Group lifted their price objective on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Finally, Wedbush reissued a “buy” rating on shares of Best Buy in a research note on Monday, August 24th.

Insider Activity

In related news, Chairman Richard M. Schulze sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $92.51, for a total value of $27,753,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kathleen Scarlett sold 116,062 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $92.15, for a total transaction of $10,695,113.30. Following the completion of the sale, the executive vice president directly owned 116,173 shares in the company, valued at $10,705,341.95. This represents a 49.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Best Buy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. B.A. Schrock Wealth Management Inc. bought a new position in Best Buy in the 3rd quarter valued at approximately $2,064,000. Corient Private Wealth LP bought a new stake in shares of Best Buy in the 2nd quarter worth $18,648,000. Munich Reinsurance Co Stock Corp in Munich increased its holdings in shares of Best Buy by 80.0% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer’s stock worth $7,016,000 after purchasing an additional 41,092 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Best Buy in the 2nd quarter worth $2,734,000. Finally, Yousif Capital Management LLC raised its stake in shares of Best Buy by 139.3% in the third quarter. Yousif Capital Management LLC now owns 61,305 shares of the technology retailer’s stock worth $5,410,000 after purchasing an additional 35,684 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $99.58 on Wednesday. The company has a 50 day moving average of $91.57 and a 200 day moving average of $76.10. The stock has a market cap of $20.89 billion, a P/E ratio of 16.57, a P/E/G ratio of 2.49 and a beta of 1.20. Best Buy has a 12 month low of $55.10 and a 12 month high of $103.54. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36.

Best Buy (NYSE:BBY) last posted its earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. Best Buy had a net margin of 3.01% and a return on equity of 48.14%. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. Best Buy’s revenue was up 3.6% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, sell-side analysts forecast that Best Buy will post 6.81 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a $0.96 dividend. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 3.9%. Best Buy’s dividend payout ratio (DPR) is presently 63.89%.

Best Buy Company Profile

Best Buy is a retailer of consumer technology products and services. Its offerings include computers and mobile devices, televisions and home theater equipment, major appliances, and related accessories, sold through stores and digital channels.

The company also provides technology support and installation services through Geek Squad, including help with device setup, repairs, and home technology systems. Best Buy serves customers in the United States and Canada.

Founded in 1966 as Sound of Music, the company adopted the Best Buy name in 1983.