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

Best Buy Co., Inc. (NYSE:BBY) has received an average rating of “Hold” from the twenty-one research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $85.40.

Several brokerages have commented on BBY. Wedbush restated a “buy” rating on shares of Best Buy in a report on Monday, August 24th. The Goldman Sachs Group increased their price objective on shares of Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday, August 28th. Morgan Stanley raised their price objective on shares of Best Buy from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 28th. Bank of America assumed coverage on shares of Best Buy in a report on Monday, August 3rd. They set an “underperform” rating and a $80.00 price objective on the stock. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Best Buy in a research note on Tuesday, September 8th.

Insider Activity at Best Buy

In related news, Chairman Richard Schulze sold 300,000 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $92.51, for a total transaction of $27,753,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 718,601 shares of company stock valued at $60,451,555 in the last 90 days. Insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Best Buy

A number of large investors have recently bought and sold shares of BBY. Tema ETFs LLC raised its holdings in shares of Best Buy by 6.5% in the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after purchasing an additional 145 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in Best Buy by 3.0% during the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock worth $346,000 after purchasing an additional 151 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in Best Buy by 1.0% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 14,613 shares of the technology retailer’s stock worth $1,109,000 after purchasing an additional 151 shares during the last quarter. Center for Financial Planning Inc. grew its position in Best Buy by 4.9% in the first quarter. Center for Financial Planning Inc. now owns 4,319 shares of the technology retailer’s stock valued at $277,000 after purchasing an additional 200 shares in the last quarter. Finally, Avory & Company LLC grew its position in Best Buy by 6.4% in the fourth quarter. Avory & Company LLC now owns 3,479 shares of the technology retailer’s stock valued at $233,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Trading Down 1.7%

BBY opened at $92.95 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $19.49 billion, a PE ratio of 15.47, a PEG ratio of 2.32 and a beta of 1.28. Best Buy has a 1-year low of $55.10 and a 1-year high of $95.85. The firm has a 50-day moving average price of $86.64 and a two-hundred day moving average price of $73.90.

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

Best Buy Announces Dividend

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

About Best Buy

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.