Shares of Best Buy Co Inc (NYSE:BBY) have been given a consensus rating of “Hold” by the twenty ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $80.40.
A number of equities analysts recently commented on the company. ValuEngine upgraded Best Buy from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Telsey Advisory Group upped their target price on Best Buy from $76.00 to $80.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 29th. Deutsche Bank upped their target price on Best Buy from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. JPMorgan Chase & Co. upped their target price on Best Buy from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 29th. Finally, Wedbush set a $65.00 target price on Best Buy and gave the stock a “sell” rating in a research report on Thursday, August 23rd.
NYSE:BBY traded up $0.58 during mid-day trading on Thursday, reaching $71.68. The stock had a trading volume of 2,281,992 shares, compared to its average volume of 3,173,586. Best Buy has a fifty-two week low of $52.92 and a fifty-two week high of $84.37. The company has a market capitalization of $19.74 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.52 and a current ratio of 1.21.
Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, August 28th. The technology retailer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. Best Buy had a return on equity of 40.28% and a net margin of 2.44%. The firm had revenue of $9.38 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that Best Buy will post 5.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 9th. Shareholders of record on Tuesday, September 18th were given a dividend of $0.45 per share. The ex-dividend date was Monday, September 17th. This represents a $1.80 dividend on an annualized basis and a yield of 2.51%. Best Buy’s payout ratio is currently 40.72%.
In other news, CFO Corie S. Barry sold 6,783 shares of the stock in a transaction that occurred on Friday, October 19th. The stock was sold at an average price of $72.80, for a total value of $493,802.40. Following the completion of the sale, the chief financial officer now directly owns 80,961 shares of the company’s stock, valued at $5,893,960.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia H. Walker sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $77.66, for a total value of $388,300.00. Following the completion of the sale, the insider now directly owns 21,698 shares of the company’s stock, valued at $1,685,066.68. The disclosure for this sale can be found here. Insiders have sold 76,711 shares of company stock valued at $6,081,426 in the last ninety days. Company insiders own 0.75% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new stake in shares of Best Buy in the second quarter valued at approximately $174,000. Squar Milner Financial Services LLC bought a new stake in shares of Best Buy in the second quarter valued at approximately $201,000. Capital Investment Advisors LLC bought a new stake in shares of Best Buy in the second quarter valued at approximately $210,000. RFG Advisory Group LLC bought a new stake in shares of Best Buy in the second quarter valued at approximately $210,000. Finally, Courier Capital LLC acquired a new position in shares of Best Buy in the second quarter valued at $217,000. 85.32% of the stock is owned by institutional investors.
About Best Buy
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.
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