Best Buy Co., Inc. (BBY) Given Average Rating of “Hold” by Analysts

Best Buy Co., Inc. (NYSE:BBY) has been given an average rating of “Hold” by the twenty-four analysts that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, six have given a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $57.91.

Several equities research analysts have commented on the stock. Moffett Nathanson assumed coverage on shares of Best Buy in a research note on Monday, December 4th. They issued a “sell” rating on the stock. Wedbush set a $32.00 price objective on shares of Best Buy and gave the company a “sell” rating in a research note on Wednesday, November 29th. Deutsche Bank set a $56.00 price objective on shares of Best Buy and gave the company a “hold” rating in a research note on Friday, November 17th. Loop Capital set a $72.00 price objective on shares of Best Buy and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Oppenheimer reiterated a “hold” rating on shares of Best Buy in a research note on Thursday, November 16th.

Shares of Best Buy (NYSE:BBY) opened at $63.79 on Monday. Best Buy has a 12 month low of $41.67 and a 12 month high of $64.12. The company has a market cap of $18,650.00, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40. The company has a quick ratio of 0.52, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, November 16th. The technology retailer reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Best Buy had a net margin of 3.09% and a return on equity of 28.46%. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter last year, the business earned $0.60 earnings per share. Best Buy’s revenue was up 4.2% compared to the same quarter last year. equities research analysts forecast that Best Buy will post 4.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, December 6th. Best Buy’s dividend payout ratio (DPR) is currently 34.43%.

In other news, insider Kathleen Scarlett sold 10,797 shares of the firm’s stock in a transaction on 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 owns 25,690 shares in the company, valued at approximately $1,348,468.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shari L. Ballard sold 40,018 shares of Best Buy stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $56.18, for a total transaction of $2,248,211.24. Following the completion of the transaction, the insider now owns 99,304 shares in the company, valued at approximately $5,578,898.72. The disclosure for this sale can be found here. Insiders have sold a total of 2,623,184 shares of company stock valued at $157,384,562 in the last three months. Company insiders own 1.21% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in shares of Best Buy by 762.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after purchasing an additional 3,119,700 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Best Buy by 27.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock valued at $228,696,000 after acquiring an additional 866,787 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Best Buy by 125.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,387,812 shares of the technology retailer’s stock valued at $79,563,000 after acquiring an additional 772,200 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Best Buy by 27.6% during the 3rd quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock valued at $190,263,000 after acquiring an additional 723,500 shares in the last quarter. Finally, 1060 Capital LLC acquired a new stake in shares of Best Buy during the 3rd quarter valued at about $35,849,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.

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Best Buy Company Profile

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.

Analyst Recommendations for Best Buy (NYSE:BBY)

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