Best Buy Co., Inc. (NYSE:BBY) Receives $84.47 Average PT from Analysts

Best Buy Co., Inc. (NYSE:BBY) has received an average recommendation of “Hold” from the twenty-three research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $84.4737.

BBY has been the topic of a number of recent research reports. Wedbush restated a “neutral” rating and set a $75.00 price target on shares of Best Buy in a report on Thursday, November 20th. Wells Fargo & Company increased their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Wall Street Zen raised Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Finally, Citigroup increased their price objective on Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, November 7th.

Best Buy Trading Down 0.2%

Shares of NYSE BBY opened at $72.75 on Friday. The business has a 50 day simple moving average of $77.69 and a 200 day simple moving average of $73.71. Best Buy has a 52 week low of $54.99 and a 52 week high of $91.68. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.85 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, research 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 declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.2%. The ex-dividend date is Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is 125.83%.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the sale, the chairman directly owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,534,993 shares of company stock valued at $126,626,855 over the last 90 days. Company insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in Best Buy during the third quarter valued at about $232,000. Hudson Bay Capital Management LP increased its stake in shares of Best Buy by 3,119.2% in the third quarter. Hudson Bay Capital Management LP now owns 117,179 shares of the technology retailer’s stock worth $8,861,000 after purchasing an additional 113,539 shares during the period. Allworth Financial LP lifted its position in shares of Best Buy by 118.7% during the 3rd quarter. Allworth Financial LP now owns 4,274 shares of the technology retailer’s stock worth $323,000 after purchasing an additional 2,320 shares during the last quarter. IFP Advisors Inc boosted its stake in Best Buy by 45.0% during the 3rd quarter. IFP Advisors Inc now owns 2,225 shares of the technology retailer’s stock valued at $168,000 after purchasing an additional 690 shares during the period. Finally, Investment Research Partners LLC bought a new stake in Best Buy during the 3rd quarter valued at approximately $322,000. Institutional investors own 80.96% of the company’s stock.

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.