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

Best Buy Co., Inc. (NYSE:BBY) has been given a consensus rating of “Hold” by the twenty-one brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $85.40.

Several research analysts recently issued reports on the stock. BNP Paribas Exane increased their target price on shares of Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. UBS Group reiterated a “neutral” rating and set a $90.00 price objective (up from $86.00) on shares of Best Buy in a report on Friday, August 28th. Barclays increased their price objective on shares of Best Buy from $77.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. DA Davidson restated a “neutral” rating and issued a $95.00 target price on shares of Best Buy in a research note on Tuesday, September 8th. Finally, Loop Capital lowered Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price for the company. in a research report on Monday, July 13th.

Insider Buying and Selling at Best Buy

In related news, Chairman Richard Schulze sold 300,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total value of $27,753,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 718,601 shares of company stock worth $60,451,555 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MV Capital Management Inc. acquired a new stake in shares of Best Buy in the 4th quarter worth about $25,000. Hillsdale Investment Management Inc. acquired a new position in Best Buy during the 4th quarter valued at about $29,000. Bayban acquired a new position in Best Buy during the 4th quarter valued at about $33,000. Aberdeen Wealth Management LLC bought a new stake in Best Buy during the 2nd quarter worth approximately $38,000. Finally, Elyxium Wealth LLC bought a new stake in Best Buy during the 4th quarter worth approximately $37,000. 80.96% of the stock is owned by institutional investors.

Best Buy Trading Up 0.4%

Shares of BBY stock opened at $93.21 on Tuesday. Best Buy has a fifty-two week low of $55.10 and a fifty-two week high of $95.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.41 and a current ratio of 1.12. The stock has a 50 day simple moving average of $86.87 and a two-hundred day simple moving average of $74.18. The company has a market cap of $19.55 billion, a P/E ratio of 15.51, a PEG ratio of 2.32 and a beta of 1.28.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.08. The firm had revenue of $9.78 billion for the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Research analysts forecast that Best Buy will post 6.82 earnings per share for the current year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th will be issued a dividend of $0.96 per share. The ex-dividend date is Thursday, September 17th. This represents a $3.84 annualized dividend and a dividend yield of 4.1%. Best Buy’s payout ratio is currently 63.89%.

Best Buy Company Profile

Best Buy Co, Inc is a specialty retailer of technology products and services operating under the Best Buy brand. The company sells consumer electronics, computers, mobile phones, appliances, entertainment products, smart-home equipment, and related accessories through its retail stores, websites, and other sales channels.

Best Buy also provides technology support, installation, repair, and consultation services through Geek Squad. Its offerings include assistance with device setup, home theater installation, computer and appliance support, and technology solutions for consumers and small businesses.