Best Buy Co. Company Profile (NYSE:BBY)

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

Best Buy Co. declared a quarterly dividend on Wednesday, August 30th. Investors of record on Tuesday, September 19th will be paid a dividend of $0.34 per share on Tuesday, October 10th. This represents a $1.36 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, September 18th. View Best Buy Co.'s Dividend History.

Best Buy Co. announced that its board has initiated a share repurchase plan on Tuesday, April 11th 2017, which allows the company to repurchase $5,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to buy up to 37.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Best Buy Co., Inc. (NYSE:BBY) released its quarterly earnings results on Tuesday, August, 29th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.06. The firm had revenue of $8.94 billion for the quarter, compared to analysts' expectations of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. View Best Buy Co.'s Earnings History.

Best Buy Co. is scheduled to release their next quarterly earnings announcement on Wednesday, November, 15th 2017. View Earnings Estimates for Best Buy Co..

Best Buy Co. updated its third quarter earnings guidance on Tuesday, August, 29th. The company provided earnings per share guidance of $0.75-0.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.65. The company issued revenue guidance of $9.3-9.4 billion, compared to the consensus revenue estimate of $9.00 billion.

20 brokerages have issued 12-month price targets for Best Buy Co.'s stock. Their forecasts range from $33.00 to $72.00. On average, they expect Best Buy Co.'s stock price to reach $59.87 in the next year. View Analyst Ratings for Best Buy Co..

Here are some recent quotes from research analysts about Best Buy Co. stock:

• 1. According to Zacks Investment Research, "Best Buy has exhibited a bullish run in the index and outpaced the industry in the past year driven by its strategic efforts, sturdy online sales growth and solid earnings surprise history. Despite reporting robust results in second-quarter fiscal 2018, the stock took a hit as investors are concerned about margins which may come under pressure due to increase in investment. The company is making extensive investments to upgrade operations with special focus on developing omni-channel capabilities and strengthening partnership with vendors. Moreover, following the completion of “Renew Blue” program, it launched a fresh strategy called “Best Buy 2020: Building the New Blue”. Under this strategy, the top most priority is to explore and pursue growth opportunities and optimize cost with focus on key areas. However, the challenging retail landscape, aggressive promotional strategies and waning store traffic remain concerns." (8/31/2017)
• 2. Loop Capital analysts commented, "Given Best Buy's market leadership, favorable near-term prospects, track record of far exceeding consensus earnings expectations, and copious free cash flow generation, we believe the stock should trade at a significantly higher valuation," (8/16/2017)
• 3. Jefferies Group LLC analysts commented, "While BBY was within its sales guidance, we think the market was pricing in more. Guidance was softer than expected, particularly for Q1, reflecting weakness recently stemming from tax refund delays, moderation in certain categories and product shortages. Margins remained strong in Q4 and offset soft sales linked to weakness in gaming, tablets, wearables and product shortages. Hold rating reflects product cycle concerns, particularly TV." (3/2/2017)

Some companies that are related to Best Buy Co. include Target Corporation (TGT), Ctrip.com International (CTRP), Yum! Brands (YUM), Ross Stores (ROST), Expedia (EXPE), Dollar General Corporation (DG), Tesco PLC (TSCDY), Dollar Tree (DLTR), Kroger Company (The) (KR), O'Reilly Automotive (ORLY), Koninklijke Ahold Delhaize NV (AHONY), AutoZone (AZO), Restaurant Brands International (QSR), Carrefour SA (CRRFY), Ulta Beauty (ULTA), Fastenal Company (FAST), CarMax (KMX) and MercadoLibre (MELI).

Best Buy Co.'s management team includes the folowing people:

• Hubert Joly, Chairman of the Board, Chief Executive Officer
• Trish Walker, President, Services
• Corie S. Barry, Chief Financial Officer
• Shari L. Ballard, President, Multi-channel Retail and Operations
• Paula F. Baker, Chief Human Resource Officer
• Mathew R. Watson, Chief Accounting Officer, Vice President, Controller
• Keith J. Nelsen, General Counsel, Secretary
• R. Michael Mohan, Chief Merchandising and Marketing Officer
• Asheesh Saksena, Chief Strategic Growth Officer
• Russell P. Fradin, Lead Independent Director

Best Buy Co.'s stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (10.57%), FMR LLC (9.20%), BlackRock Inc. (6.40%), State Street Corp (4.25%), American International Group Inc. (3.55%) and JPMorgan Chase & Co. (3.50%). Company insiders that own Best Buy Co. stock include Asheesh Saksena, Corie S Barry, Gerard R Vittecoq, Hubert Joly, Kathleen Scarlett, Keith J Nelsen, Mathew Watson, Patricia H Walker, Paula Baker, Rajendra M Mohan, Richard M Schulze, Shari L Ballard and Victor Kathy J Higgins. View Institutional Ownership Trends for Best Buy Co..

Best Buy Co.'s stock was sold by a variety of institutional investors in the last quarter, including JPMorgan Chase & Co., AJO LP, Boston Partners, FMR LLC, Balyasny Asset Management LLC, Arrowstreet Capital Limited Partnership, WINTON GROUP Ltd and State Street Corp. Company insiders that have sold Best Buy Co. stock in the last year include Asheesh Saksena, Corie S Barry, Hubert Joly, Kathleen Scarlett, Keith J Nelsen, Mathew Watson, Patricia H Walker, Paula Baker, Rajendra M Mohan, Richard M Schulze, Shari L Ballard and Victor Kathy J Higgins. View Insider Buying and Selling for Best Buy Co..

Best Buy Co.'s stock was bought by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Parametric Portfolio Associates LLC, Ardevora Asset Management LLP, Great West Life Assurance Co. Can, Janus Henderson Group PLC, James Investment Research Inc., Lord Abbett & CO. LLC and Hancock Holding Co.. View Insider Buying and Selling for Best Buy Co..

Shares of Best Buy Co. can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Best Buy Co. stock can currently be purchased for approximately $53.90.