Best Buy (NYSE:BBY) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Best Buy (NYSE:BBY) from a hold rating to a buy rating in a research report released on Friday.

Other research analysts have also recently issued research reports about the stock. UBS Group raised their price target on shares of Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler raised their target price on Best Buy from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $75.00 price target on shares of Best Buy in a research report on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.28.

Best Buy Price Performance

Shares of NYSE:BBY opened at $79.40 on Friday. The firm has a market capitalization of $16.68 billion, a PE ratio of 21.93, a PEG ratio of 2.21 and a beta of 1.25. 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 $91.72. The business’s 50 day moving average is $77.97 and its 200-day moving average is $73.41.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.Best Buy’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.26 earnings per share. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Sell-side analysts predict that Best Buy will post 6.18 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be given a dividend of $0.95 per share. The ex-dividend date is Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 4.8%. Best Buy’s dividend payout ratio is 125.83%.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 2,018 shares of the 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard M. Schulze sold 74,553 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman directly owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,733,111 shares of company stock worth $141,293,157. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Best Buy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in Best Buy by 2.9% in the first quarter. Cetera Investment Advisers now owns 73,139 shares of the technology retailer’s stock valued at $5,384,000 after acquiring an additional 2,081 shares during the last quarter. HB Wealth Management LLC lifted its position in Best Buy by 2.4% during the 1st quarter. HB Wealth Management LLC now owns 6,348 shares of the technology retailer’s stock valued at $467,000 after purchasing an additional 149 shares during the period. LPL Financial LLC boosted its stake in shares of Best Buy by 11.1% in the 1st quarter. LPL Financial LLC now owns 130,074 shares of the technology retailer’s stock valued at $9,575,000 after purchasing an additional 12,999 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Best Buy by 27.1% in the 1st quarter. Mackenzie Financial Corp now owns 68,988 shares of the technology retailer’s stock valued at $5,078,000 after purchasing an additional 14,714 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Best Buy during the 1st quarter worth approximately $1,533,000. 80.96% of the stock is owned by institutional investors and hedge funds.

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.