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

Best Buy Co., Inc. (NYSE:BBY) has been assigned an average rating of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $82.5882.

Several research analysts recently commented on the company. BNP Paribas raised Best Buy to a “hold” rating in a research report on Friday, May 30th. Wells Fargo & Company increased their price objective on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 29th. Evercore ISI raised their target price on shares of Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a research note on Friday, August 29th. Truist Financial upped their price target on shares of Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, August 29th. Finally, Wedbush increased their price target on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, August 29th.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 729,201 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $72.95, for a total value of $53,195,212.95. Following the sale, the chairman owned 196,100 shares in the company, valued at approximately $14,305,495. This represents a 78.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 929,016 shares of company stock worth $67,981,783. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Best Buy

Hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. raised its holdings in Best Buy by 108.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 178 shares during the period. Vermillion Wealth Management Inc. acquired a new position in shares of Best Buy in the fourth quarter valued at approximately $31,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Best Buy during the second quarter worth approximately $26,000. Ancora Advisors LLC lifted its holdings in Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 374 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in shares of Best Buy by 67.1% during the first quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Up 2.8%

Best Buy stock opened at $77.02 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. Best Buy has a 1-year low of $54.99 and a 1-year high of $103.48. The company has a fifty day simple moving average of $70.38 and a 200 day simple moving average of $71.06. The company has a market cap of $16.28 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Research analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 4.9%. The ex-dividend date is Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is 104.97%.

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.