Best Buy Co., Inc. (NYSE:BBY) Receives Average Recommendation of “Hold” from Analysts

Shares of Best Buy Co., Inc. (NYSE:BBY) have been given an average rating of “Hold” by the twenty-three analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $83.8947.

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Daiwa Capital Markets raised their target price on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, November 28th. Piper Sandler boosted their price target on Best Buy from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Evercore ISI cut their price objective on Best Buy from $85.00 to $80.00 and set an “in-line” rating on the stock in a report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th.

Best Buy Stock Performance

BBY opened at $66.65 on Thursday. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.68. The company has a quick ratio of 0.26, a current ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market cap of $13.97 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. The firm’s 50-day moving average price is $73.21 and its 200-day moving average price is $73.62.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. Best Buy’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. As a group, equities analysts anticipate that Best Buy will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Tuesday, December 16th. Best Buy’s dividend payout ratio is 125.83%.

Insider Activity

In related news, Chairman Richard M. Schulze sold 500,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chairman directly owned 12,486,904 shares in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,534,993 shares of company stock worth $126,626,855 over the last three months. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Best Buy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBY. Harbor Capital Advisors Inc. lifted its holdings in shares of Best Buy by 69.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after buying an additional 138 shares during the period. Palisade Asset Management LLC purchased a new position in Best Buy during the third quarter valued at approximately $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy in the second quarter valued at approximately $26,000. Root Financial Partners LLC purchased a new stake in Best Buy in the 3rd quarter worth approximately $32,000. Finally, Wolff Wiese Magana LLC purchased a new stake in Best Buy in the 4th quarter worth approximately $32,000. 80.96% of the stock is owned by institutional investors and hedge funds.

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.