Best Buy (NYSE:BBY) Given “Hold” Rating at Argus

Argus reaffirmed their hold rating on shares of Best Buy (NYSE:BBY) in a report released on Tuesday,Benzinga reports.

Several other equities research analysts also recently commented on the company. Bank of America decreased their price objective on Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a report on Friday, August 29th. Truist Financial upped their price objective on shares of Best Buy from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, August 29th. Barclays reaffirmed an “equal weight” rating and issued a $74.00 price objective on shares of Best Buy in a research note on Friday, August 29th. Loop Capital decreased their target price on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Finally, Wells Fargo & Company raised their price target on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $82.59.

Best Buy Trading Down 0.6%

BBY opened at $74.08 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $103.48. The company’s 50 day moving average price is $71.31 and its two-hundred day moving average price is $70.16. The firm has a market capitalization of $15.56 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.96 and a beta of 1.19.

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

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 5.1%. Best Buy’s payout ratio is presently 104.97%.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at $1,545,332.32. This represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock valued at $14,941,472 over the last ninety days. 0.59% of the stock is currently owned by insiders.

Institutional Trading of Best Buy

Large investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. boosted its stake in shares of Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in Best Buy during the 2nd quarter valued at approximately $26,000. Vermillion Wealth Management Inc. purchased a new position in shares of Best Buy during the 4th quarter worth approximately $31,000. Grove Bank & Trust raised its position in shares of Best Buy by 67.1% in the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after acquiring an additional 173 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Best Buy in the 2nd quarter valued at approximately $33,000. 80.96% of the stock is owned by institutional investors.

Best Buy Company Profile

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.