Best Buy Stock Forecast, Price & News

Best Buy's stock was trading at $65.37 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, BBY shares have increased by 75.2% and is now trading at $114.50.
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23 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 1 sell rating, 9 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" Best Buy stock.
View analyst ratings for Best Buy or view MarketBeat's top 5 stock picks.

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6,978 employees have rated Best Buy CEO Larry J. Merlo on Glassdoor.com. Larry J. Merlo has an approval rating of 37% among Best Buy's employees. This puts Larry J. Merlo in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.

Best Buy is scheduled to release its next quarterly earnings announcement on Thursday, February 25th 2021.
View our earnings forecast for Best Buy.

Best Buy Co., Inc. (NYSE:BBY) announced its earnings results on Monday, November, 23rd. The technology retailer reported $2.06 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.70 by $0.36. The technology retailer earned $11.85 billion during the quarter, compared to analyst estimates of $11.02 billion. Best Buy had a net margin of 3.79% and a return on equity of 52.17%. During the same quarter in the previous year, the company earned $1.13 earnings per share.
View Best Buy's earnings history.

Best Buy declared a quarterly dividend on Tuesday, November 24th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.55 per share on Tuesday, January 5th. This represents a $2.20 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, December 14th.
View Best Buy's dividend history.

Best Buy pays an annual dividend of $2.20 per share and currently has a dividend yield of 1.96%. Best Buy does not yet have a strock track record of dividend growth. The dividend payout ratio of Best Buy is 36.24%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Best Buy will have a dividend payout ratio of 28.57% next year. This indicates that Best Buy will be able to sustain or increase its dividend.
View Best Buy's dividend history.

Best Buy announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 27th 2019, which allows the company to buyback $3,000,000,000.00 in shares, according to EventVestor. This buyback authorization allows the company to purchase up to 18.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

23 analysts have issued 1-year price objectives for Best Buy's shares. Their forecasts range from $70.00 to $135.00. On average, they expect Best Buy's share price to reach $110.37 in the next twelve months. This suggests that the stock has a possible downside of 3.6%.
View analysts' price targets for Best Buy or view Wall Street analyst' top-rated stocks.

Some companies that are related to Best Buy include GOME Retail (GMELY), Conn's (CONN), Yosen Group (YOSN), DBUB Group (DBUB) and hhgregg (HGGGQ).
View all of BBY's competitors.

Based on aggregate information from My MarketBeat watchlists, some companies that other Best Buy investors own include NVIDIA (NVDA), Intel (INTC), The Home Depot (HD), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Micron Technology (MU), Bank of America (BAC), The 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 variety of institutional and retail investors. Top institutional shareholders include Wedge Capital Management L L P NC (0.11%), Scout Investments Inc. (0.09%), Manning & Napier Group LLC (0.05%), State of Alaska Department of Revenue (0.04%), Hexavest Inc. (0.04%) and Pacer Advisors Inc. (0.02%). Company insiders that own Best Buy stock include Allison Peterson, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Keith J Nelsen, Lisa Caputo, Mathew Watson, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, Victor Kathy J Higgins and Whitney L Alexander.
View institutional ownership trends for Best Buy.

BBY stock was sold by a variety of institutional investors in the last quarter, including Hexavest Inc., Scout Investments Inc., Sowell Financial Services LLC, Transform Wealth LLC, Pendal Group Limited, Exchange Traded Concepts LLC, Paradigm Capital Management Inc. NY, and MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH. Company insiders that have sold Best Buy company stock in the last year include Allison Peterson, Brian A Tilzer, Corie S Barry, Hubert Joly, Kathleen Scarlett, Mathew Watson, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Richard M Schulze, Todd G Hartman, and Whitney L Alexander.
View insider buying and selling activity for Best Buy or view top insider-selling stocks.

BBY stock was bought by a variety of institutional investors in the last quarter, including Crossmark Global Holdings Inc., Denali Advisors LLC, Wedge Capital Management L L P NC, NuWave Investment Management LLC, Kestra Advisory Services LLC, Foster Group Inc., Lavaca Capital LLC, and Manning & Napier Group LLC.
View insider buying and selling activity for Best Buy or or view top insider-buying stocks.

Shares of BBY 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.

One share of BBY stock can currently be purchased for approximately $114.50.

Best Buy has a market capitalization of $29.65 billion and generates $43.64 billion in revenue each year. The technology retailer earns $1.54 billion in net income (profit) each year or $6.07 on an earnings per share basis. Best Buy employs 125,000 workers across the globe.

The official website for Best Buy is www.bestbuy.com.

Best Buy's mailing address is 7601 PENN AVE SOUTH, RICHFIELD MN, 55423. The technology retailer can be reached via phone at 612-291-1000 or via email at [email protected]