Best Buy Co., Inc. (NYSE:BBY) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Best Buy Co., Inc. has received an average recommendation of "Hold" from 20 brokerages, with one sell recommendation, ten holds, and nine buys reported.
• Insider trading activity includes Chairman Richard M. Schulze selling 500,000 shares at $80.83, decreasing his position by 3.85% to over 12 million shares.
• The company reported a 1.6% year-over-year revenue increase, with an EPS of $1.28 surpassing estimates by $0.06; Best Buy has set FY 2026 guidance at 6.150-6.300 EPS.

Best Buy Co., Inc. (NYSE:BBY - Get Free Report) has received a consensus recommendation of "Hold" from the twenty research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $81.6875.

Several analysts have commented on the stock. Bank of America lowered their target price 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. Wall Street Zen cut shares of Best Buy from a "buy" rating to a "hold" rating in a research note on Saturday, October 18th. Piper Sandler reaffirmed a "neutral" rating and issued a $75.00 target price (down from $82.00) on shares of Best Buy in a research note on Monday, July 14th. Wells Fargo & Company lifted their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Evercore ISI lifted their price target on shares of Best Buy from $75.00 to $77.00 and gave the company an "in-line" rating in a report on Friday, August 29th.

Insiders Place Their Bets

In related news, Chairman Richard M. Schulze sold 500,000 shares of Best Buy stock in a transaction on 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 legal filing with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer owned 22,150 shares in the company, valued at $1,640,650.50. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,027,669 shares of company stock worth $82,189,066. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Best Buy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBY. Harbor Capital Advisors Inc. increased its stake in Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer's stock worth $25,000 after buying an additional 138 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in Best Buy during the 2nd quarter worth $26,000. CYBER HORNET ETFs LLC purchased a new stake in Best Buy during the 2nd quarter worth $33,000. MUFG Securities EMEA plc purchased a new stake in Best Buy during the 2nd quarter worth $38,000. Finally, Maseco LLP purchased a new stake in Best Buy during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 80.96% of the company's stock.

Best Buy Trading Up 0.8%

Shares of BBY opened at $83.07 on Friday. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy has a 1-year low of $54.99 and a 1-year high of $95.49. The firm has a 50 day simple moving average of $75.88 and a 200-day simple moving average of $70.92.

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. The firm had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.23 billion. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. Best Buy's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 EPS. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Equities analysts forecast that Best Buy will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Thursday, September 18th. Best Buy's dividend payout ratio (DPR) is 104.97%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.