Telsey Advisory Group Reiterates "Outperform" Rating for Best Buy (NYSE:BBY)

Telsey Advisory Group reissued their outperform rating on shares of Best Buy (NYSE:BBY - Free Report) in a research report sent to investors on Friday,Benzinga reports. Telsey Advisory Group currently has a $90.00 price target on the technology retailer's stock. Telsey Advisory Group also issued estimates for Best Buy's Q2 2026 earnings at $1.21 EPS, Q3 2026 earnings at $1.32 EPS, Q4 2026 earnings at $2.58 EPS, FY2026 earnings at $6.25 EPS, Q1 2027 earnings at $1.25 EPS, Q2 2027 earnings at $1.37 EPS, Q3 2027 earnings at $1.43 EPS, Q4 2027 earnings at $2.75 EPS and FY2027 earnings at $6.70 EPS.

Several other equities analysts have also recently issued reports on the company. Evercore ISI decreased their price objective on Best Buy from $95.00 to $80.00 and set an "in-line" rating for the company in a research note on Wednesday, March 5th. Wedbush upgraded Best Buy to a "hold" rating and set a $75.00 price objective for the company in a research note on Friday, May 23rd. Citigroup reiterated a "neutral" rating and issued a $70.00 price objective (down previously from $93.00) on shares of Best Buy in a research note on Thursday, April 3rd. Guggenheim decreased their price objective on Best Buy from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $86.11.

Best Buy Trading Down 0.1%

Best Buy stock traded down $0.07 during midday trading on Friday, reaching $66.25. 6,438,698 shares of the stock traded hands, compared to its average volume of 3,346,222. The company has a 50-day simple moving average of $67.25 and a two-hundred day simple moving average of $78.85. Best Buy has a 12-month low of $54.99 and a 12-month high of $103.71. The firm has a market cap of $14.02 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY - Get Free Report) last announced its earnings results on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.06. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The company had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.77 billion. During the same period last year, the business posted $1.20 EPS. Best Buy's revenue for the quarter was down .9% on a year-over-year basis. Research analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 19th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 5.74%. The ex-dividend date is Wednesday, June 18th. Best Buy's payout ratio is 88.99%.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 3,182 shares of Best Buy stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the transaction, the chief accounting officer now owns 19,218 shares of the company's stock, valued at $1,370,051.22. The trade was a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Todd G. Hartman sold 4,893 shares of Best Buy stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $355,476.45. Following the transaction, the insider now directly owns 32,320 shares in the company, valued at approximately $2,348,048. This trade represents a 13.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,355 shares of company stock worth $5,767,213 over the last 90 days. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in Best Buy by 5.2% during the fourth quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock worth $218,000 after buying an additional 125 shares during the period. Mariner LLC increased its holdings in shares of Best Buy by 0.3% in the fourth quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock valued at $3,708,000 after purchasing an additional 129 shares during the period. LRI Investments LLC increased its holdings in shares of Best Buy by 36.3% in the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock valued at $45,000 after purchasing an additional 141 shares during the period. Rothschild Investment LLC increased its holdings in shares of Best Buy by 19.7% in the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock valued at $74,000 after purchasing an additional 142 shares during the period. Finally, Independent Advisor Alliance increased its holdings in shares of Best Buy by 5.0% in the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock valued at $258,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.

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.