Best Buy Co., Inc. (NYSE:BBY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Best Buy Co., Inc. (NYSE:BBY) has received a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $101.72.

Several research analysts recently weighed in on the stock. UBS Group cut their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. StockNews.com cut shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays cut their price target on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Thursday, January 9th. Truist Financial cut their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Finally, Guggenheim cut their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.59% of the stock is currently owned by insiders.

Institutional Trading of Best Buy

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. increased its holdings in Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after acquiring an additional 3,025 shares during the period. Asset Management One Co. Ltd. grew its stake in Best Buy by 27.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after buying an additional 19,405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Best Buy by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after buying an additional 18,171 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. grew its stake in Best Buy by 48.6% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,400 shares of the technology retailer’s stock worth $2,265,000 after buying an additional 8,640 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in Best Buy in the 4th quarter worth approximately $453,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Stock Down 1.3 %

Shares of NYSE BBY opened at $89.80 on Monday. The stock has a market capitalization of $19.20 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.13 and a beta of 1.43. The company has a 50-day moving average price of $86.10 and a 200-day moving average price of $90.43. Best Buy has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Best Buy will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

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.