Best Buy Co., Inc. (NYSE:BBY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Best Buy Co., Inc. (NYSE:BBYGet Rating) have received an average recommendation of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $91.79.

Several research analysts have recently weighed in on BBY shares. Raymond James cut Best Buy from an “outperform” rating to a “market perform” rating in a report on Friday, March 4th. Barclays lowered shares of Best Buy from an “overweight” rating to an “equal weight” rating and set a $80.00 price target on the stock. in a research report on Wednesday, May 25th. DA Davidson lifted their price target on shares of Best Buy from $107.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 25th. Bank of America lowered shares of Best Buy from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 14th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $82.00 price target (down previously from $96.00) on shares of Best Buy in a research report on Tuesday, June 7th.

In other Best Buy news, CEO Corie S. Barry sold 44,619 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $80.68, for a total value of $3,599,860.92. Following the completion of the transaction, the chief executive officer now owns 319,701 shares in the company, valued at $25,793,476.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Corie S. Barry sold 4,388 shares of the company’s stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $307,160.00. Following the completion of the transaction, the chief executive officer now owns 315,313 shares of the company’s stock, valued at approximately $22,071,910. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,151 shares of company stock valued at $5,146,816. Insiders own 0.44% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in Best Buy by 2.0% in the third quarter. Cetera Investment Advisers now owns 4,332 shares of the technology retailer’s stock valued at $458,000 after acquiring an additional 83 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Best Buy by 1.3% in the third quarter. MML Investors Services LLC now owns 6,620 shares of the technology retailer’s stock valued at $700,000 after buying an additional 84 shares during the last quarter. Stonebridge Capital Advisors LLC raised its holdings in shares of Best Buy by 65.4% in the third quarter. Stonebridge Capital Advisors LLC now owns 253 shares of the technology retailer’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Baker Tilly Wealth Management LLC raised its holdings in shares of Best Buy by 4.2% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 2,627 shares of the technology retailer’s stock valued at $267,000 after buying an additional 106 shares during the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of Best Buy by 39.4% in the first quarter. Concord Wealth Partners now owns 389 shares of the technology retailer’s stock valued at $35,000 after buying an additional 110 shares during the last quarter. Institutional investors own 80.79% of the company’s stock.

NYSE:BBY opened at $69.88 on Friday. Best Buy has a 52 week low of $67.66 and a 52 week high of $141.97. The company has a quick ratio of 0.24, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $15.73 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42. The stock’s 50-day moving average price is $83.20 and its 200-day moving average price is $93.47.

Best Buy (NYSE:BBYGet Rating) last posted its quarterly earnings data on Tuesday, May 24th. The technology retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.04). Best Buy had a return on equity of 63.39% and a net margin of 4.33%. The firm had revenue of $10.65 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter in the previous year, the firm posted $2.23 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Sell-side analysts expect that Best Buy will post 8.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Tuesday, June 14th will be paid a dividend of $0.88 per share. The ex-dividend date is Monday, June 13th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.04%. Best Buy’s payout ratio is currently 39.07%.

Best Buy Company Profile (Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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Analyst Recommendations for Best Buy (NYSE:BBY)

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