Best Buy - BBY Stock Forecast, Price & News

16 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 7 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" BBY shares.
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16 brokers have issued 12-month target prices for Best Buy's shares. Their BBY share price forecasts range from $59.00 to $105.00. On average, they anticipate the company's share price to reach $81.44 in the next twelve months. This suggests that the stock has a possible downside of 0.6%.
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Best Buy's stock was trading at $101.60 on January 1st, 2022. Since then, BBY stock has decreased by 19.4% and is now trading at $81.91.
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Best Buy Co., Inc. (NYSE:BBY) released its quarterly earnings results on Tuesday, November, 22nd. The technology retailer reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.35. The technology retailer had revenue of $10.59 billion for the quarter, compared to analysts' expectations of $10.30 billion. Best Buy had a net margin of 3.23% and a trailing twelve-month return on equity of 57.26%. The firm's revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share.
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Best Buy declared a quarterly dividend on Tuesday, November 22nd. Investors of record on Tuesday, December 13th will be paid a dividend of $0.88 per share on Tuesday, January 3rd. This represents a $3.52 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Monday, December 12th.
Read our dividend analysis for BBY.

Best Buy (NYSE:BBY) pays an annual dividend of $3.52 per share and currently has a dividend yield of 4.33%. 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 18 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 52.69%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 49.93% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

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 trades on the New York Stock Exchange (NYSE) under the ticker symbol "BBY."

Best Buy's stock is owned by a number of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (11.62%), BlackRock Inc. (9.00%), State Street Corp (4.60%), Price T Rowe Associates Inc. MD (3.09%), First Trust Advisors LP (1.26%) and Dimensional Fund Advisors LP (1.14%). Insiders that own company stock include Allison Peterson, Brian A Tilzer, Brian A Tilzer, Corie S Barry, Corie S Barry, Damien Harmon, Deborah Disanzo Eldracher, Hubert Joly, Kathleen Scarlett, Lisa Caputo, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Rajendra M Mohan, Richard M Schulze, Richard M Schulze, Robert L Bass, Todd G Hartman, Todd G Hartman, Whitney L Alexander and Whitney L Alexander.
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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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One share of BBY stock can currently be purchased for approximately $81.91.

Best Buy (NYSE:BBY) has a market capitalization of $18.44 billion and generates $51.76 billion in revenue each year. The technology retailer earns $2.45 billion in net income (profit) each year or $6.68 on an earnings per share basis.

The company employs 105,000 workers across the globe.

Best Buy's mailing address is 7601 PENN AVE SOUTH, RICHFIELD MN, 55423. The official website for the company is www.bestbuy.com. The technology retailer can be reached via phone at (612) 291-1000, via email at investorrelations@bestbuy.com, or via fax at 612-292-4001.