Best Buy - BBY Stock Forecast, Price & News

18 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 1 sell rating, 10 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street equities research 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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18 analysts have issued 1-year target prices for Best Buy's stock. Their BBY share price forecasts range from $69.00 to $105.00. On average, they expect the company's share price to reach $82.71 in the next twelve months. This suggests that the stock has a possible downside of 8.4%.
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Best Buy's stock was trading at $80.21 at the beginning of 2023. Since then, BBY shares have increased by 12.6% and is now trading at $90.32.
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Best Buy saw a increase in short interest during the month of December. As of December 30th, there was short interest totaling 10,060,000 shares, an increase of 8.6% from the December 15th total of 9,260,000 shares. Based on an average daily trading volume, of 2,980,000 shares, the short-interest ratio is presently 3.4 days. Currently, 5.1% of the company's shares are sold short.
View Best Buy's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, March 2nd 2023.
View our BBY earnings forecast.

Best Buy Co., Inc. (NYSE:BBY) released its quarterly earnings results on Tuesday, November, 22nd. The technology retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.03 by $0.35. The technology retailer earned $10.59 billion during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 EPS.
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Best Buy declared a quarterly dividend on Tuesday, November 22nd. Shareholders of record on Tuesday, December 13th will be given a dividend of $0.88 per share on Tuesday, January 3rd. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date 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 3.85%. The company has been increasing its dividend for 19 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 51.69% 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 Newport Trust Co (0.56%), Sumitomo Mitsui Trust Holdings Inc. (0.43%), Ceredex Value Advisors LLC (0.29%), AustralianSuper Pty Ltd (0.19%), Ferguson Wellman Capital Management Inc. (0.15%) and Todd Asset Management LLC (0.11%). 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, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Matthew M Furman, Rajendra M Mohan, Rajendra M Mohan, 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 $90.32.

Best Buy (NYSE:BBY) has a market capitalization of $19.98 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.