Daiwa Capital Markets Issues Positive Forecast for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its price objective upped by Daiwa Capital Markets from $76.00 to $80.00 in a report published on Friday,MarketScreener reports. They currently have a neutral rating on the technology retailer’s stock.

BBY has been the subject of several other reports. Piper Sandler boosted their price target on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company lifted 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. Citigroup increased their target price on Best Buy from $73.00 to $82.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Telsey Advisory Group boosted their price target on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Truist Financial upped their price objective on shares of Best Buy from $79.00 to $84.00 and gave the stock a “hold” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.28.

Best Buy Stock Down 2.0%

BBY stock opened at $79.40 on Friday. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $91.72. 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 stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.21 and a beta of 1.25. The business’s fifty day moving average price is $77.97 and its two-hundred day moving average price is $73.41.

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

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.8%. Best Buy’s dividend payout ratio is 125.83%.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 500,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the sale, the chairman owned 12,486,904 shares of the company’s stock, valued at $1,009,316,450.32. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mathew Watson sold 2,018 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the transaction, the chief accounting officer directly 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,733,111 shares of company stock valued at $141,293,157. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBY. Harbor Capital Advisors Inc. raised its holdings in Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after buying an additional 138 shares during the last quarter. Palisade Asset Management LLC acquired a new position in Best Buy in the 3rd quarter valued at approximately $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Best Buy during the second quarter valued at $26,000. Root Financial Partners LLC acquired a new position in shares of Best Buy during the third quarter worth $32,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Best Buy during the second quarter worth $33,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

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.