Best Buy (NYSE:BBY) Price Target Raised to $95.00

Best Buy (NYSE:BBY) had its price objective lifted by Guggenheim from $90.00 to $95.00 in a report released on Friday, Marketbeat.com reports. They currently have a buy rating on the technology retailer’s stock.

Several other equities research analysts also recently commented on BBY. Loop Capital downgraded shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a research report on Monday, July 13th. BNP Paribas Exane upped their price target on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. DA Davidson reaffirmed a “buy” rating and set a $90.00 price target on shares of Best Buy in a research note on Monday, June 22nd. JPMorgan Chase & Co. lifted their price target on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Jefferies Financial Group cut shares of Best Buy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $89.00 to $85.00 in a research note on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $85.40.

Best Buy Price Performance

Best Buy stock opened at $82.34 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $17.35 billion, a PE ratio of 13.70, a P/E/G ratio of 2.29 and a beta of 1.29. Best Buy has a 12 month low of $55.10 and a 12 month high of $91.26. The stock has a 50-day moving average price of $83.16 and a two-hundred day moving average price of $71.37.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. The firm had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Analysts expect that Best Buy will post 6.79 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, September 17th. Best Buy’s payout ratio is currently 63.89%.

Insider Buying and Selling

In other Best Buy news, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the sale, the chairman owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 500,000 shares of company stock valued at $39,065,226 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Best Buy

A number of institutional investors have recently modified their holdings of BBY. Corient Private Wealth LP increased its position in shares of Best Buy by 33.0% during the second quarter. Corient Private Wealth LP now owns 239,382 shares of the technology retailer’s stock worth $18,165,000 after buying an additional 59,376 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Best Buy in the second quarter valued at $15,259,000. California State Teachers Retirement System lifted its holdings in Best Buy by 8,279.9% in the second quarter. California State Teachers Retirement System now owns 22,175,854 shares of the technology retailer’s stock valued at $1,682,704,000 after buying an additional 21,911,223 shares during the period. Saudi Central Bank boosted its position in Best Buy by 89.3% during the second quarter. Saudi Central Bank now owns 13,906 shares of the technology retailer’s stock valued at $1,055,000 after acquiring an additional 6,559 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its position in Best Buy by 80.0% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer’s stock valued at $7,016,000 after acquiring an additional 41,092 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Key Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Quarterly results exceeded expectations. Best Buy reported Q2 FY27 revenue of $9.78 billion, up 3.6% year over year and above the $9.59 billion consensus estimate. Adjusted earnings of $1.47 per share also topped the $1.39 consensus, while comparable sales rose 4.1%. Best Buy Reports Second Quarter Results
• Positive Sentiment: Best Buy raised its full-year outlook. The company now expects adjusted fiscal 2027 earnings of $6.70 to $6.90 per share, up from $6.30 to $6.60 previously, and revenue of $42.3 billion to $42.8 billion. The improved forecast reflects strength in computing and steady demand for technology upgrades and replacements. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Analyst sentiment improved. Guggenheim and DA Davidson each raised their BBY price target from $90 to $95 and assigned a “buy” rating, implying roughly 15% upside from the referenced price.
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to an annualized yield of approximately 4.7% at the referenced price.
• Neutral Sentiment: Growth initiatives could support the longer-term retail recovery. Best Buy is expanding its omnichannel strategy, including the Ask Blue conversational AI assistant and smaller-format stores, while digital-led sales growth was highlighted during the earnings call. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: The negative market reaction likely reflects high expectations and lingering risks. Although results beat estimates, the outlook increase was relatively modest versus consensus, international revenue declined, and investors remain cautious about discretionary spending. Analysts are also described as conflicted on BBY, suggesting uncertainty about how durable the recovery will be. Analysts Conflicted on These Consumer Cyclical Names

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.