Best Buy Stock Price, News & Analysis (NYSE:BBY)

15 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 1 sell rating, 8 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" BBY shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in BBY, but not buy additional shares or sell existing shares.
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15 equities research analysts have issued twelve-month price targets for Best Buy's stock. Their BBY share price targets range from $65.00 to $90.00. On average, they anticipate the company's share price to reach $75.64 in the next year. This suggests a possible upside of 5.7% from the stock's current price.
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Best Buy's stock was trading at $80.21 on January 1st, 2023. Since then, BBY stock has decreased by 10.8% and is now trading at $71.57.
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Best Buy saw a increase in short interest in November. As of November 15th, there was short interest totaling 13,760,000 shares, an increase of 7.8% from the October 31st total of 12,760,000 shares. Based on an average daily trading volume, of 2,570,000 shares, the days-to-cover ratio is presently 5.4 days. Approximately 7.1% of the shares of the stock are sold short.
View Best Buy's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, March 7th 2024.
View our BBY earnings forecast.

Best Buy Co., Inc. (NYSE:BBY) released its quarterly earnings results on Tuesday, November, 21st. The technology retailer reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The technology retailer had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.90 billion. Best Buy had a trailing twelve-month return on equity of 49.13% and a net margin of 2.93%. Best Buy's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 EPS.
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Best Buy announced a quarterly dividend on Tuesday, November 21st. Shareholders of record on Tuesday, December 12th will be paid a dividend of $0.92 per share on Tuesday, January 2nd. This represents a $3.68 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Monday, December 11th.
Read our dividend analysis for BBY.

Best Buy (NYSE:BBY) pays an annual dividend of $3.68 per share and currently has a dividend yield of 5.31%. BBY has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 20 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 63.45%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 58.14% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

ETFs with the largest weight of Best Buy (NYSE:BBY) stock in their portfolio include Invesco S&P Ultra Dividend Revenue ETF (RDIV), WBI Power Factor High Dividend ETF (WBIY), The Acquirers Fund (ZIG), ALPS Sector Dividend Dogs ETF (SDOG), AAM S&P 500 High Dividend Value ETF (SPDV), Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RCD), Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RSPD) and Invesco High Yield Equity Dividend Achievers ETF (PEY).

Best Buy issued an update on its FY24 earnings guidance on Tuesday, November, 21st. The company provided EPS guidance of $6.00-$6.30 for the period, compared to the consensus earnings per share estimate of $6.19. The company issued revenue guidance of $43.1-$43.7 billion, compared to the consensus revenue estimate of $44.14 billion.

1,251 employees have rated Best Buy Chief Executive Officer Corie Barry on Glassdoor.com. Corie Barry has an approval rating of 75% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Best Buy investors own include NVIDIA (NVDA), Intel (INTC), Home Depot (HD), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Micron Technology (MU), Bank of America (BAC), Walt Disney (DIS), QUALCOMM (QCOM) and Alibaba Group (BABA).

Best Buy's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Charles Schwab Investment Management Inc. (2.06%), Invesco Ltd. (1.59%), Northern Trust Corp (1.28%), Morgan Stanley (1.24%), Raymond James & Associates (1.20%) and Federated Hermes Inc. (1.19%). Insiders that own company stock include Allison Peterson, Brian A Tilzer, Corie S Barry, Corie S Barry, Damien Harmon, Deborah Disanzo Eldracher, Jason J Bonfig, Kathleen Scarlett, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Rajendra M Mohan, Rajendra M Mohan, Richard M Schulze, Robert L Bass and Todd G Hartman.
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Shares of BBY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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