Best Buy (NYSE:BBY) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Best Buy (NYSE:BBY) in a report issued on Tuesday,Benzinga reports. Telsey Advisory Group currently has a $90.00 price target on the technology retailer’s stock.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Barclays restated an “equal weight” rating and issued a $74.00 price objective on shares of Best Buy in a research report on Friday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of Best Buy from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Evercore ISI lifted their target price on shares of Best Buy from $80.00 to $85.00 in a report on Tuesday, November 4th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Best Buy currently has a consensus rating of “Hold” and an average target price of $83.88.

Best Buy Stock Down 0.3%

BBY stock opened at $74.45 on Tuesday. The company has a market capitalization of $15.64 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. Best Buy has a 12 month low of $54.99 and a 12 month high of $95.49. The firm’s fifty day simple moving average is $77.55 and its 200-day simple moving average is $72.99. 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 (NYSE:BBY) last posted its earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm posted $1.34 earnings per share. The firm’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. As a group, equities research analysts forecast that Best Buy will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th were given a $0.95 dividend. The ex-dividend date was Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.1%. Best Buy’s payout ratio is 104.97%.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $80.83, for a total value of $40,415,000.00. Following the completion of the sale, the chairman owned 12,486,904 shares of the company’s stock, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction on Friday, August 29th. The shares were 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 in the company, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,736,826 shares of company stock valued at $141,568,327. Corporate insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. IFM Investors Pty Ltd grew its stake in shares of Best Buy by 6.6% in the second quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock worth $3,284,000 after acquiring an additional 3,040 shares in the last quarter. Alberta Investment Management Corp raised its stake in shares of Best Buy by 25.6% in the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock valued at $2,422,000 after acquiring an additional 6,700 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in Best Buy by 191.9% in the first quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after purchasing an additional 7,043 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Best Buy during the 1st quarter worth $370,000. Finally, Conning Inc. grew its stake in Best Buy by 5.4% during the 2nd quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock worth $32,159,000 after purchasing an additional 24,741 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

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.