Best Buy (NYSE:BBY) Given Buy Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Best Buy (NYSE:BBY) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $117.00 target price on the technology retailer’s stock. DA Davidson also issued estimates for Best Buy’s Q3 2025 earnings at $1.30 EPS, FY2025 earnings at $6.31 EPS and FY2026 earnings at $6.92 EPS.

Other analysts also recently issued research reports about the company. Telsey Advisory Group boosted their price objective on Best Buy from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. The Goldman Sachs Group lifted their target price on shares of Best Buy from $95.00 to $116.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America increased their price target on shares of Best Buy from $70.00 to $80.00 and gave the stock an “underperform” rating in a report on Friday, August 30th. Citigroup lifted their price objective on shares of Best Buy from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, BNP Paribas raised Best Buy to a “strong-buy” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.71.

Best Buy Stock Performance

Best Buy stock opened at $96.14 on Tuesday. Best Buy has a 1-year low of $62.30 and a 1-year high of $103.71. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $20.74 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. The firm’s 50 day simple moving average is $95.36 and its 200 day simple moving average is $86.17.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.23 billion. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. As a group, analysts expect that Best Buy will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 19th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date was Thursday, September 19th. Best Buy’s dividend payout ratio (DPR) is presently 65.85%.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 88,542 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the completion of the sale, the chairman now directly owns 13,602,853 shares in the company, valued at $1,200,451,777.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Best Buy news, Chairman Richard M. Schulze sold 88,542 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total value of $7,813,831.50. Following the transaction, the chairman now owns 13,602,853 shares in the company, valued at approximately $1,200,451,777.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 600,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $88.29, for a total transaction of $52,974,000.00. Following the sale, the chairman now owns 14,002,853 shares of the company’s stock, valued at approximately $1,236,311,891.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Best Buy

Several hedge funds have recently made changes to their positions in BBY. Rise Advisors LLC boosted its holdings in Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after acquiring an additional 132 shares in the last quarter. Palisade Asset Management LLC bought a new stake in shares of Best Buy during the 1st quarter valued at about $27,000. Richardson Financial Services Inc. increased its position in shares of Best Buy by 190.9% during the second quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after buying an additional 210 shares during the period. PrairieView Partners LLC raised its stake in Best Buy by 67.1% in the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after buying an additional 151 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Best Buy in the second quarter worth about $35,000. 80.96% of the stock is owned by hedge funds and other institutional investors.

About Best Buy

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.