Analysts Set Best Buy Co., Inc. (NYSE:BBY) PT at $102.41

Shares of Best Buy Co., Inc. (NYSE:BBY) have been given an average recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $103.71.

Several equities research analysts have recently weighed in on the stock. Melius Research assumed coverage on shares of Best Buy in a research note on Monday, September 23rd. They set a “hold” rating and a $100.00 target price for the company. UBS Group upped their price objective on shares of Best Buy from $106.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. DA Davidson reaffirmed a “buy” rating and issued a $117.00 target price on shares of Best Buy in a report on Tuesday. Loop Capital increased their price target on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, BNP Paribas upgraded Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th.

Insider Buying and Selling

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

Institutional Trading of Best Buy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rise Advisors LLC grew its stake in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after buying an additional 132 shares during the period. Palisade Asset Management LLC purchased a new stake in shares of Best Buy in the first quarter worth about $27,000. Richardson Financial Services Inc. raised its holdings in shares of Best Buy by 190.9% during the 2nd 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 lifted its position in Best Buy by 67.1% during the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock worth $31,000 after acquiring an additional 151 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Best Buy during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Down 2.4 %

BBY opened at $96.27 on Tuesday. Best Buy has a one year low of $62.30 and a one year high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.34 and a current ratio of 1.01. The stock has a market capitalization of $20.77 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. The business’s 50-day simple moving average is $95.11 and its 200-day simple moving average is $86.07.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $1.22 earnings per share. Analysts anticipate that Best Buy will post 6.28 EPS for the current year.

Best Buy Dividend Announcement

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

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.