Oppenheimer Holdings, Inc. Reiterates Hold Rating for Best Buy Co., Inc. (BBY)
Several other research firms have also recently weighed in on BBY. Barclays PLC reaffirmed a buy rating and set a $65.00 price objective on shares of Best Buy Co. in a research report on Monday, August 28th. Deutsche Bank AG reaffirmed a buy rating and set a $60.00 price objective on shares of Best Buy Co. in a research report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a buy rating and set a $70.00 price objective on shares of Best Buy Co. in a research report on Thursday, August 3rd. BidaskClub raised Best Buy Co. from a hold rating to a buy rating in a research report on Wednesday, August 2nd. Finally, SunTrust Banks, Inc. set a $70.00 price objective on Best Buy Co. and gave the company a buy rating in a research report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $58.86.
Best Buy Co. (NYSE:BBY) opened at $55.83 on Thursday. Best Buy Co. has a twelve month low of $41.67 and a twelve month high of $63.32. The stock has a market capitalization of $16,703.48, a PE ratio of 13.89, a P/E/G ratio of 1.16 and a beta of 1.42. The company has a current ratio of 1.25, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.
Best Buy Co. (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Best Buy Co. had a return on equity of 28.46% and a net margin of 3.09%. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the business earned $0.60 EPS. Best Buy Co.’s revenue was up 4.2% compared to the same quarter last year. equities analysts forecast that Best Buy Co. will post 4.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.44%. Best Buy Co.’s dividend payout ratio is currently 34.34%.
In other Best Buy Co. news, CEO Hubert Joly sold 106,942 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the completion of the transaction, the chief executive officer now owns 645,222 shares of the company’s stock, valued at approximately $35,280,738.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathleen Scarlett sold 10,797 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the transaction, the insider now directly owns 25,690 shares of the company’s stock, valued at approximately $1,348,468.10. The disclosure for this sale can be found here. Insiders sold a total of 145,799 shares of company stock valued at $7,956,730 in the last ninety days. 0.84% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spectrum Management Group Inc. boosted its holdings in shares of Best Buy Co. by 25.7% during the 2nd quarter. Spectrum Management Group Inc. now owns 21,515 shares of the technology retailer’s stock valued at $1,233,000 after purchasing an additional 4,405 shares during the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO bought a new position in shares of Best Buy Co. in the 2nd quarter valued at about $1,534,000. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Best Buy Co. by 18.7% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 83,623 shares of the technology retailer’s stock valued at $4,794,000 after acquiring an additional 13,150 shares during the last quarter. Viking Fund Management LLC lifted its holdings in shares of Best Buy Co. by 66.7% in the 3rd quarter. Viking Fund Management LLC now owns 10,000 shares of the technology retailer’s stock valued at $570,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Best Buy Co. by 23.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 180,179 shares of the technology retailer’s stock valued at $10,330,000 after acquiring an additional 34,345 shares during the last quarter. 86.50% of the stock is owned by institutional investors and hedge funds.
About Best Buy Co.
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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