Best Buy (NYSE:BBY) Issues Earnings Results, Beats Expectations By $0.10 EPS

Best Buy (NYSE:BBY) posted its quarterly earnings data on Tuesday. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10, Zacks reports. Best Buy had a return on equity of 47.32% and a net margin of 1.87%. Best Buy updated its FY 2026 guidance to 6.250-6.350 EPS.

Best Buy Trading Down 1.0%

NYSE BBY opened at $75.66 on Tuesday. Best Buy has a 52 week low of $54.99 and a 52 week high of $95.49. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The stock has a market cap of $15.90 billion, a P/E ratio of 20.90, a PEG ratio of 2.21 and a beta of 1.25. The company’s fifty day simple moving average is $77.44 and its 200-day simple moving average is $73.19.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Thursday, September 18th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Thursday, September 18th. Best Buy’s dividend payout ratio (DPR) is presently 104.97%.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares of the company’s stock, valued at approximately $1,009,316,450.32. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mathew Watson sold 3,715 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the sale, the chief accounting officer owned 22,150 shares in the company, valued at approximately $1,640,650.50. This trade represents a 14.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,736,826 shares of company stock worth $141,568,327 over the last quarter. 0.47% of the stock is currently owned by insiders.

Institutional Trading of Best Buy

Hedge funds have recently bought and sold shares of the company. MUFG Securities EMEA plc bought a new stake in shares of Best Buy in the 2nd quarter valued at approximately $38,000. Shellback Capital LP bought a new position in Best Buy in the 2nd quarter worth approximately $1,880,000. Rafferty Asset Management LLC grew its position in Best Buy by 19.6% in the 2nd quarter. Rafferty Asset Management LLC now owns 21,949 shares of the technology retailer’s stock worth $1,473,000 after purchasing an additional 3,593 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Best Buy during the second quarter valued at about $244,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in Best Buy during the second quarter worth $505,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BBY. Argus reissued a “hold” rating on shares of Best Buy in a research report on Tuesday, September 16th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $90.00 target price on shares of Best Buy in a research note on Tuesday, November 18th. JPMorgan Chase & Co. lifted their target price on Best Buy from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Evercore ISI reduced their target price on shares of Best Buy from $85.00 to $80.00 in a report on Tuesday, November 18th. Finally, Jefferies Financial Group raised their target price on Best Buy from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.56.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.