Best Buy Co., Inc. (NYSE:BBY) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Best Buy Co., Inc. has been assigned an average analyst rating of "Hold", with one sell rating, nine hold ratings, and nine buy ratings across nineteen brokerages.
• The company recently announced a quarterly dividend of $0.95, yielding 4.9%, with an upcoming payout date of October 9th.
• Insider trading activity included Chairman Richard M. Schulze selling over 729,000 shares valued at approximately $53 million, significantly reducing his ownership stake in the company.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) has received a consensus rating of "Hold" from the nineteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine 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 ratings on the stock in the last year is $82.5882.

BBY has been the topic of several research analyst reports. UBS Group lowered their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Evercore ISI boosted their target price on shares of Best Buy from $75.00 to $77.00 and gave the stock an "in-line" rating in a report on Friday, August 29th. Wells Fargo & Company upped their price target on shares of Best Buy from $67.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, Guggenheim reaffirmed a "buy" rating and set a $90.00 price target on shares of Best Buy in a research note on Friday, August 29th.

Best Buy Price Performance

Shares of BBY traded down $1.09 during mid-day trading on Friday, reaching $75.93. The stock had a trading volume of 486,631 shares, compared to its average volume of 3,650,181. The firm has a market cap of $16.05 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.04 and a beta of 1.19. Best Buy has a 12 month low of $54.99 and a 12 month high of $103.48. The business has a fifty day moving average of $70.88 and a 200 day moving average of $70.63. 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 (NYSE:BBY - Get Free Report) last released its earnings results on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The company's quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities analysts predict that Best Buy will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 dividend on an annualized basis and a yield of 5.0%. Best Buy's dividend payout ratio is presently 104.97%.

Insiders Place Their Bets

In other news, CAO Mathew Watson sold 2,018 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard M. Schulze sold 196,100 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. 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 owned by insiders.

Institutional Trading of Best Buy

A number of institutional investors have recently bought and sold shares of BBY. Mirae Asset Global Investments Co. Ltd. lifted its stake in Best Buy by 7.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,960 shares of the technology retailer's stock valued at $14,560,000 after acquiring an additional 13,378 shares during the period. GAMMA Investing LLC grew its holdings in shares of Best Buy by 5,519.3% during the first quarter. GAMMA Investing LLC now owns 173,131 shares of the technology retailer's stock worth $12,744,000 after buying an additional 170,050 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Best Buy by 10.2% in the first quarter. Rhumbline Advisers now owns 502,272 shares of the technology retailer's stock valued at $36,972,000 after purchasing an additional 46,645 shares during the period. Blackhawk Capital Partners LLC. purchased a new stake in shares of Best Buy in the first quarter valued at about $1,574,000. Finally, Alberta Investment Management Corp boosted its stake in Best Buy by 25.6% during the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer's stock worth $2,422,000 after buying an additional 6,700 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

About Best Buy

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.