Best Buy Co., Inc. (NYSE:BBY) Receives $81.50 Consensus Target Price from Analysts

Shares of Best Buy Co., Inc. (NYSE:BBY) have earned an average recommendation of “Hold” from the twenty research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $81.50.

Several equities research analysts have recently issued reports on BBY shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Truist Financial lifted their price target on Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Wells Fargo & Company increased their price objective on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 29th. Bank of America decreased their target price on Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a research note on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a report on Saturday, September 27th.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the transaction, the chief accounting officer owned 20,132 shares in the company, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,833 shares of company stock valued at $14,941,472. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Best Buy

Several institutional investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. increased its stake in shares of Best Buy by 108.5% during the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 178 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in Best Buy in the 2nd quarter valued at approximately $26,000. Grove Bank & Trust increased its position in shares of Best Buy by 67.1% in the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock valued at $32,000 after buying an additional 173 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Best Buy during the second quarter worth about $33,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Best Buy during the 2nd quarter worth approximately $38,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Stock Performance

Shares of BBY opened at $75.71 on Tuesday. Best Buy has a 1 year low of $54.99 and a 1 year high of $100.08. The stock has a market capitalization of $15.91 billion, a PE ratio of 20.91, a PEG ratio of 2.02 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The stock has a 50-day simple moving average of $72.97 and a 200-day simple moving average of $70.07.

Best Buy (NYSE:BBY) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, analysts predict that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.0%. The ex-dividend date is Thursday, September 18th. Best Buy’s dividend payout ratio is currently 104.97%.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone 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 products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.