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

Best Buy Co., Inc. (NYSE:BBY) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $101.72.

A number of research analysts recently issued reports on the company. Loop Capital reaffirmed a “buy” rating and set a $100.00 target price on shares of Best Buy in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on shares of Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Barclays cut their target price on shares of Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Telsey Advisory Group reduced their price objective on Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, November 26th.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Best Buy

Several institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Best Buy by 563.8% in the fourth quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after acquiring an additional 503,204 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Best Buy by 55.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer’s stock valued at $116,252,000 after purchasing an additional 491,781 shares during the last quarter. National Bank of Canada FI boosted its holdings in Best Buy by 817.4% in the third quarter. National Bank of Canada FI now owns 537,886 shares of the technology retailer’s stock worth $55,564,000 after purchasing an additional 479,256 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Best Buy during the second quarter worth $25,287,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Best Buy by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after buying an additional 241,988 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Down 2.0 %

BBY stock opened at $85.08 on Thursday. The firm’s 50-day moving average is $86.41 and its two-hundred day moving average is $90.19. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 2.11 and a beta of 1.43. Best Buy has a 52 week low of $69.29 and a 52 week high of $103.71.

Best Buy (NYSE:BBY) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is currently 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.