Wedbush reissued their neutral rating on shares of Best Buy (NYSE:BBY) in a research note published on Monday, Benzinga reports. The brokerage currently has a $125.00 target price on the technology retailer’s stock, down from their previous target price of $135.00.

Several other research analysts have also weighed in on the stock. Morgan Stanley lowered their target price on shares of Best Buy from $120.00 to $110.00 and set an equal weight rating for the company in a research note on Thursday, March 4th. Raymond James reduced their price target on shares of Best Buy from $150.00 to $120.00 and set an outperform rating on the stock in a research report on Thursday, March 4th. DA Davidson reaffirmed a buy rating on shares of Best Buy in a report on Friday, February 26th. Citigroup assumed coverage on shares of Best Buy in a report on Monday, March 15th. They issued a sell rating and a $86.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on shares of Best Buy from $130.00 to $114.00 and set a sector perform rating on the stock in a report on Thursday, March 4th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $111.05.

Shares of BBY opened at $117.47 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Best Buy has a 12-month low of $70.71 and a 12-month high of $124.89. The firm has a 50-day moving average price of $117.80 and a 200 day moving average price of $112.64. The firm has a market capitalization of $29.37 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.40 and a beta of 1.52.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Wednesday, February 24th. The technology retailer reported $3.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.46 by $0.02. Best Buy had a net margin of 3.79% and a return on equity of 52.17%. The firm had revenue of $16.94 billion during the quarter, compared to analyst estimates of $17.19 billion. Equities research analysts predict that Best Buy will post 7.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 8th. Stockholders of record on Thursday, March 18th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, March 17th. This is a positive change from Best Buy’s previous quarterly dividend of $0.55. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.38%. Best Buy’s dividend payout ratio (DPR) is 46.13%.

In other news, insider Kathleen Scarlett sold 1,078 shares of the firm’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $113.88, for a total transaction of $122,762.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 1,166 shares of the firm’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $119.51, for a total transaction of $139,348.66. Following the transaction, the insider now owns 25,173 shares in the company, valued at $3,008,425.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,821 shares of company stock worth $4,923,594. Insiders own 0.64% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC purchased a new position in Best Buy in the 4th quarter valued at $26,000. Ellevest Inc. grew its position in Best Buy by 476.1% in the 4th quarter. Ellevest Inc. now owns 265 shares of the technology retailer’s stock valued at $26,000 after buying an additional 219 shares during the last quarter. West Financial Advisors LLC purchased a new position in Best Buy in the 4th quarter valued at $27,000. Fieldpoint Private Securities LLC purchased a new position in Best Buy in the 4th quarter valued at $28,000. Finally, Paces Ferry Wealth Advisors LLC purchased a new position in Best Buy in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 76.56% of the company’s stock.

Best Buy Company Profile

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 and mobile phones, such as computing covering desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions, networking products, tablets covering e-readers, and wearables, such as 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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