Best Buy Co., Inc. (NYSE:BBY) Given Consensus Rating of “Hold” by Analysts

Best Buy Co., Inc. (NYSE:BBY) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $83.8750.

Several research firms recently issued reports on BBY. JPMorgan Chase & Co. increased their price target on shares of Best Buy from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Citigroup increased their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Barclays reissued an “equal weight” rating and issued a $74.00 price target on shares of Best Buy in a report on Friday, August 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Best Buy in a report on Tuesday. Finally, Wall Street Zen downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Sunday, November 9th.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $84.31, for a total transaction of $6,285,563.43. Following the transaction, the chairman directly owned 11,451,911 shares in the company, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total transaction of $154,901.68. Following the sale, the chief accounting officer owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,736,826 shares of company stock worth $141,568,327. 0.59% of the stock is owned by insiders.

Institutional Trading of Best Buy

A number of institutional investors have recently bought and sold shares of BBY. Palisade Asset Management LLC acquired a new position in shares of Best Buy during the 3rd quarter worth $25,000. Harbor Capital Advisors Inc. increased its holdings in Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy during the second quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in shares of Best Buy in the third quarter valued at about $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Best Buy in the second quarter valued at approximately $33,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Price Performance

Shares of NYSE BBY opened at $74.45 on Wednesday. The stock has a fifty day moving average price of $77.55 and a 200 day moving average price of $72.99. Best Buy has a 1-year low of $54.99 and a 1-year high of $95.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The company has a market cap of $15.64 billion, a PE ratio of 20.57, a P/E/G ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last announced 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. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. Best Buy’s quarterly revenue was up 1.6% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Sell-side analysts forecast that Best Buy will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were paid a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.1%. 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.