Shares of Best Buy Co Inc (NYSE:BBY) have earned an average recommendation of “Hold” from the twenty-three ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $57.91.
Several equities analysts have recently commented on BBY shares. Deutsche Bank reaffirmed a “buy” rating and set a $58.00 price target on shares of Best Buy in a research report on Thursday, September 14th. Loop Capital set a $72.00 price target on shares of Best Buy and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research raised shares of Best Buy from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Monday, October 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $68.00 price target on shares of Best Buy in a research report on Thursday, September 21st. Finally, UBS Group reaffirmed a “buy” rating and set a $57.00 price target (down previously from $60.00) on shares of Best Buy in a research report on Wednesday, September 20th.
Shares of Best Buy (NYSE BBY) opened at $67.28 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.25. The firm has a market capitalization of $19,670.00, a PE ratio of 17.03, a PEG ratio of 1.47 and a beta of 1.38. Best Buy has a 52 week low of $41.67 and a 52 week high of $69.39.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th were issued a $0.34 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $1.36 dividend on an annualized basis and a yield of 2.02%. Best Buy’s dividend payout ratio is currently 34.43%.
In other Best Buy news, insider Shari L. Ballard sold 40,018 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $56.18, for a total value of $2,248,211.24. Following the transaction, the insider now owns 99,304 shares of the company’s stock, valued at $5,578,898.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Richard M. Schulze sold 250,000 shares of Best Buy stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.83, for a total value of $16,707,500.00. Following the sale, the insider now directly owns 1,732,500 shares in the company, valued at approximately $115,782,975. The disclosure for this sale can be found here. Insiders sold 3,134,253 shares of company stock worth $191,063,125 in the last three months. 1.21% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC raised its holdings in shares of Best Buy by 18,281.8% during the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after buying an additional 2,011 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in shares of Best Buy during the third quarter valued at approximately $139,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Best Buy by 6.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after buying an additional 163 shares during the last quarter. Smithfield Trust Co. bought a new stake in shares of Best Buy during the third quarter valued at approximately $178,000. Finally, Keybank National Association OH bought a new stake in shares of Best Buy during the second quarter valued at approximately $200,000. 88.45% of the stock is currently owned by institutional investors.
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About Best Buy
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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