Best Buy’s (BBY) “Buy” Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Best Buy (NYSE:BBY) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $90.00 price objective on the technology retailer’s stock.

A number of other brokerages have also weighed in on BBY. UBS Group upped their target price on Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective 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. Wedbush reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Best Buy in a research note on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lowered their target price on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.28.

Best Buy Stock Down 2.0%

Shares of NYSE BBY opened at $79.40 on Wednesday. The company’s 50 day moving average price is $77.97 and its 200-day moving average price is $73.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.72. The company has a market capitalization of $16.68 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25.

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

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be paid a $0.95 dividend. 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 presently 125.83%.

Insider Buying and Selling at Best Buy

In other 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 value of $40,415,000.00. Following the completion of the transaction, the chairman directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mathew Watson sold 2,018 shares of the firm’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 owned 20,132 shares of the company’s stock, valued at approximately $1,545,332.32. This represents a 9.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,733,111 shares of company stock valued at $141,293,157 in the last quarter. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BBY. Palisade Asset Management LLC purchased a new position in Best Buy during the third quarter worth about $25,000. Harbor Capital Advisors Inc. boosted its position in shares of Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after acquiring an additional 138 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Best Buy during the second quarter worth about $26,000. Root Financial Partners LLC bought a new position in shares of Best Buy in the third quarter worth approximately $32,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in Best Buy in the second quarter valued at approximately $33,000. 80.96% of the stock is owned by institutional investors.

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.