Best Buy Co., Inc. (NYSE:BBY) Given Average Rating of "Hold" by Brokerages

Key Points

• Best Buy Co., Inc. has received an average rating of "Hold" from 19 analysts, with one sell, nine hold, and nine buy recommendations; the average target price is $81.50.
• The company reported a $1.28 EPS in its latest quarterly earnings, exceeding analysts' expectations, and had a revenue of $9.44 billion, showing a year-over-year increase of 1.6%.
• Best Buy recently declared a quarterly dividend of $0.95 per share, representing an annual yield of 5.0%, although its dividend payout ratio is currently over 100% at 104.97%.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) has earned an average rating of "Hold" from the nineteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $81.50.

Several equities research analysts have recently weighed in on BBY shares. Piper Sandler reissued a "neutral" rating and set a $75.00 target price (down previously from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Wedbush raised their price objective on shares of Best Buy from $70.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Telsey Advisory Group restated an "outperform" rating and issued a $90.00 target price on shares of Best Buy in a report on Friday, August 29th. Truist Financial lifted their price target on shares of Best Buy from $69.00 to $72.00 and gave the stock a "hold" rating in a research note on Friday, August 29th. Finally, Bank of America decreased their price objective on shares of Best Buy from $63.00 to $60.00 and set an "underperform" rating for the company in a research note on Friday, August 29th.

Insider Activity at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 196,100 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.07, for a total value of $275,170.05. Following the completion of the sale, the chief accounting officer directly owned 22,150 shares of the company's stock, valued at $1,640,650.50. The trade was a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,833 shares of company stock worth $14,941,472. 0.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. raised its holdings in shares of Best Buy by 108.5% in the first quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer's stock valued at $25,000 after buying an additional 178 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy in the 2nd quarter valued at about $26,000. Grove Bank & Trust raised its stake in Best Buy by 67.1% during the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer's stock valued at $32,000 after acquiring an additional 173 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Best Buy during the 2nd quarter valued at approximately $33,000. Finally, MUFG Securities EMEA plc acquired a new stake in Best Buy during the 2nd quarter worth approximately $38,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Performance

Shares of Best Buy stock opened at $75.58 on Tuesday. The business has a 50-day simple moving average of $72.11 and a 200-day simple moving average of $69.97. 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 one year low of $54.99 and a one year high of $103.48. The company has a market cap of $15.88 billion, a PE ratio of 20.88, a P/E/G ratio of 2.00 and a beta of 1.19.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.06. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, equities research analysts forecast that Best Buy will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is currently 104.97%.

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.

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