Best Buy Co., Inc. (NYSE:BBY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Best Buy Co., Inc. (NYSE:BBY) have received a consensus recommendation of “Hold” from the twenty-three ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $84.4737.

BBY has been the subject of several research reports. Wells Fargo & Company raised their price objective on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Truist Financial boosted their price objective on Best Buy from $79.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, November 26th. Citigroup upped their price objective on shares of Best Buy from $73.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Best Buy from $97.00 to $99.00 in a research report on Tuesday, November 25th.

Best Buy Trading Down 2.0%

Best Buy stock opened at $73.48 on Friday. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.68. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.86 and a beta of 1.37. The firm has a 50-day moving average price of $77.79 and a two-hundred day moving average price of $73.60.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. 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. Sell-side analysts expect that Best Buy will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, December 16th. Best Buy’s dividend payout ratio (DPR) is currently 125.83%.

Insider Transactions at Best Buy

In other news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,534,993 shares of company stock worth $126,626,855 over the last 90 days. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BBY. Vanguard Group Inc. grew its holdings in Best Buy by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock worth $1,810,904,000 after acquiring an additional 552,360 shares during the last quarter. State Street Corp grew its stake in shares of Best Buy by 3.8% during the second quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after purchasing an additional 496,215 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Best Buy by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,038,506 shares of the technology retailer’s stock valued at $472,495,000 after purchasing an additional 69,533 shares in the last quarter. AQR Capital Management LLC raised its position in Best Buy by 99.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock worth $525,120,000 after purchasing an additional 3,496,254 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Best Buy by 15.8% during the 2nd quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock worth $305,351,000 after buying an additional 621,863 shares in the last quarter. 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.