Best Buy Co., Inc. (NYSE:BBY) Receives Average Recommendation of “Hold” from Brokerages

Shares of Best Buy Co., Inc. (NYSE:BBY) have been given a consensus recommendation of “Hold” by the twenty-two brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $81.6316.

BBY has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Barclays lowered their target price on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, January 8th. Citigroup increased their price target on shares of Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Truist Financial lowered their price objective on Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Friday, January 16th. Finally, The Goldman Sachs Group cut their target price on Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th.

Best Buy Stock Performance

NYSE BBY opened at $70.42 on Monday. The firm has a market cap of $14.76 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.62 and a beta of 1.44. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.68. The business’s 50-day moving average price is $69.67 and its 200 day moving average price is $73.21. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, equities research analysts expect that Best Buy will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were issued a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a yield of 5.4%. Best Buy’s dividend payout ratio (DPR) is 125.83%.

Hedge Funds Weigh In On Best Buy

Large investors have recently made changes to their positions in the stock. Sage Private Wealth Group LLC increased its holdings in Best Buy by 3.1% in the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after buying an additional 123 shares in the last quarter. LVW Advisors LLC increased its stake in Best Buy by 3.9% in the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after purchasing an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares during the last quarter. Huntington National Bank boosted its position in Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after purchasing an additional 139 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.