Best Buy Co., Inc. (BBY) Given Consensus Rating of “Buy” by Brokerages
Best Buy Co., Inc. (NYSE:BBY) has earned an average rating of “Buy” from the twenty-five brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $55.97.
Several equities research analysts have issued reports on the company. Telsey Advisory Group lifted their price objective on Best Buy Co. from $53.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. ValuEngine downgraded Best Buy Co. from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Loop Capital restated a “buy” rating and set a $72.00 price objective (up from $64.00) on shares of Best Buy Co. in a report on Monday, June 5th. Deutsche Bank AG restated a “buy” rating and set a $60.00 price objective on shares of Best Buy Co. in a report on Monday, June 5th. Finally, Barclays PLC restated a “buy” rating and set a $65.00 price objective on shares of Best Buy Co. in a report on Friday, May 26th.
In other Best Buy Co. news, insider Asheesh Saksena sold 18,706 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $57.08, for a total transaction of $1,067,738.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mathew Watson sold 758 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $51.82, for a total value of $39,279.56. Following the transaction, the vice president now owns 19,172 shares of the company’s stock, valued at approximately $993,493.04. The disclosure for this sale can be found here. Insiders have sold a total of 423,444 shares of company stock valued at $21,622,180 in the last 90 days. Insiders own 0.84% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Oconnor LLC raised its position in shares of Best Buy Co. by 131.3% in the first quarter. UBS Oconnor LLC now owns 400,000 shares of the technology retailer’s stock worth $19,660,000 after buying an additional 227,100 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Best Buy Co. during the first quarter worth about $265,777,000. Public Employees Retirement System of Ohio raised its position in shares of Best Buy Co. by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 128,120 shares of the technology retailer’s stock worth $6,297,000 after buying an additional 6,004 shares during the period. Ibex Wealth Advisors acquired a new position in shares of Best Buy Co. during the first quarter worth about $2,028,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of Best Buy Co. during the first quarter worth about $5,844,000. Institutional investors own 93.96% of the company’s stock.
Shares of Best Buy Co. (BBY) opened at 55.59 on Monday. The company’s 50 day moving average is $54.72 and its 200-day moving average is $48.15. Best Buy Co. has a 1-year low of $29.05 and a 1-year high of $61.95. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 14.96 and a beta of 1.47.
Best Buy Co. (NYSE:BBY) last announced its earnings results on Thursday, May 25th. The technology retailer reported $0.60 EPS for the quarter, beating the consensus estimate of $0.40 by $0.20. The business had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.28 billion. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Equities analysts anticipate that Best Buy Co. will post $3.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.36 dividend on an annualized basis and a yield of 2.44%. Best Buy Co.’s dividend payout ratio is currently 36.46%.
Best Buy Co. Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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