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

Shares of Best Buy Co., Inc. (NYSE:BBY) have been given an average rating of “Hold” by the twenty-two research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $79.50.

A number of equities research analysts have recently commented on BBY shares. The Goldman Sachs Group lifted their price target on shares of Best Buy from $59.00 to $62.00 and gave the stock a “sell” rating in a report on Friday, May 29th. Wedbush upped their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. UBS Group restated a “neutral” rating and set a $86.00 target price (up from $85.00) on shares of Best Buy in a research report on Friday, May 29th. BNP Paribas Exane lifted their target price on shares of Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Citigroup increased their price target on Best Buy from $60.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th.

Insider Transactions at Best Buy

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $73.80, for a total value of $131,659.20. Following the completion of the sale, the chief accounting officer owned 21,630 shares in the company, valued at $1,596,294. The trade was a 7.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard M. Schulze sold 224,705 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the transaction, the chairman directly owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,002,134 shares of company stock worth $77,283,527. 0.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Tema ETFs LLC lifted its position in Best Buy by 6.5% during the second quarter. Tema ETFs LLC now owns 2,365 shares of the technology retailer’s stock valued at $179,000 after buying an additional 145 shares in the last quarter. Krane Funds Advisors LLC increased its position in shares of Best Buy by 3.0% in the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock worth $346,000 after acquiring an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Best Buy by 0.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock valued at $1,114,000 after acquiring an additional 152 shares during the period. Applied Finance Capital Management LLC raised its stake in shares of Best Buy by 3.8% in the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock valued at $286,000 after acquiring an additional 157 shares during the period. Finally, J. Team Financial Inc. lifted its holdings in shares of Best Buy by 4.2% during the 4th quarter. J. Team Financial Inc. now owns 4,251 shares of the technology retailer’s stock valued at $285,000 after acquiring an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 0.2%

Shares of NYSE:BBY opened at $85.26 on Monday. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $17.97 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.27 and a beta of 1.30. Best Buy has a 52-week low of $55.10 and a 52-week high of $87.35. The stock’s fifty day simple moving average is $75.59 and its 200-day simple moving average is $68.18.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the business posted $1.15 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, equities research analysts forecast that Best Buy will post 6.56 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 18th were given a dividend of $0.96 per share. The ex-dividend date was Thursday, June 18th. This represents a $3.84 annualized dividend and a yield of 4.5%. Best Buy’s dividend payout ratio is 71.11%.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.