Best Buy Co. (NYSE:BBY) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $39.59 target price on the technology retailer’s stock. Vetr‘s price objective indicates a potential upside of 4.68% from the stock’s previous close.

Several other analysts have also commented on the stock. Barclays PLC reiterated a “buy” rating and issued a $45.00 price target on shares of Best Buy in a research report on Tuesday, August 23rd. Zacks Investment Research lowered shares of Best Buy from a “buy” rating to a “sell” rating in a research report on Tuesday, July 26th. Bank of America Corp. restated a “sell” rating and set a $29.00 target price on shares of Best Buy in a research report on Wednesday, August 24th. Wedbush restated a “buy” rating and set a $20.50 target price on shares of Best Buy in a research report on Wednesday, August 17th. Finally, Deutsche Bank AG restated a “buy” rating and set a $32.00 target price on shares of Best Buy in a research report on Tuesday, June 28th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $37.27.

Best Buy (NYSE:BBY) opened at 37.82 on Monday. Best Buy has a 1-year low of $25.31 and a 1-year high of $40.58. The firm has a 50 day moving average of $36.36 and a 200 day moving average of $32.91. The firm has a market cap of $12.00 billion, a P/E ratio of 12.31 and a beta of 1.44.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 23rd. The technology retailer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. The business had revenue of $8.53 billion for the quarter, compared to analyst estimates of $8.40 billion. Best Buy had a net margin of 2.62% and a return on equity of 22.44%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities research analysts expect that Best Buy will post $3.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, September 9th. Best Buy’s dividend payout ratio is currently 36.48%.

In other Best Buy news, VP Mathew Watson sold 1,030 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $39.45, for a total transaction of $40,633.50. Following the completion of the transaction, the vice president now directly owns 18,876 shares of the company’s stock, valued at approximately $744,658.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.21% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mizuho Asset Management Co. Ltd. raised its position in Best Buy by 100.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,725 shares of the technology retailer’s stock valued at $114,000 after buying an additional 1,866 shares during the period. Pacer Advisors Inc. raised its position in Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock valued at $124,000 after buying an additional 253 shares during the period. Global X Management Co. LLC raised its position in Best Buy by 128.9% in the second quarter. Global X Management Co. LLC now owns 5,379 shares of the technology retailer’s stock valued at $165,000 after buying an additional 3,029 shares during the period. Loomis Sayles & Co. L P raised its position in Best Buy by 2,685.2% in the second quarter. Loomis Sayles & Co. L P now owns 5,821 shares of the technology retailer’s stock valued at $178,000 after buying an additional 5,612 shares during the period. Finally, Alambic Investment Management L.P. acquired a new position in Best Buy during the second quarter valued at approximately $211,000. 87.63% of the stock is owned by institutional investors and hedge funds.

Best Buy Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.

5 Day Chart for NYSE:BBY

To view Vetr’s full report, visit Vetr’s official website.

Receive News & Ratings for Best Buy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Best Buy Co. and related companies with MarketBeat.com's FREE daily email newsletter.