Best Buy Co., Inc. (NYSE:BBY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nineteen brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $101.72.
A number of brokerages have commented on BBY. Wells Fargo & Company dropped their target price on shares of Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 27th. Barclays dropped their price objective on Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 9th. Truist Financial lowered their target price on Best Buy from $107.00 to $95.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. UBS Group cut their price target on Best Buy from $123.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Finally, Guggenheim lowered their price objective on shares of Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, November 29th.
View Our Latest Stock Report on Best Buy
In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now owns 92,070 shares of the company's stock, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.59% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBY. QRG Capital Management Inc. lifted its holdings in shares of Best Buy by 10.5% during the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer's stock worth $3,279,000 after purchasing an additional 3,025 shares during the period. Asset Management One Co. Ltd. raised its position in Best Buy by 27.4% during 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Best Buy by 13.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer's stock valued at $15,806,000 after acquiring an additional 18,171 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Best Buy in the 3rd quarter valued at $2,384,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Best Buy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer's stock worth $636,840,000 after acquiring an additional 241,988 shares during the period. Institutional investors and hedge funds own 80.96% of the company's stock.
BBY opened at $83.95 on Thursday. Best Buy has a one year low of $69.29 and a one year high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.06 and a beta of 1.43. The stock's 50 day moving average price is $86.91 and its 200-day moving average price is $90.22.
Best Buy (NYSE:BBY - Get Free Report) 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). The business had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 EPS. On average, equities analysts forecast that Best Buy will post 6.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.48%. Best Buy's dividend payout ratio (DPR) is currently 64.27%.
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.
Before you consider Best Buy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Best Buy wasn't on the list.
While Best Buy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.