Best Buy Co., Inc. (NYSE:BBY) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Best Buy Co., Inc. (NYSE:BBY) have been given an average rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $101.72.

Several research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Telsey Advisory Group cut their price target on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price target on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup dropped their target price on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Truist Financial decreased their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares in the company, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Best Buy

A number of hedge funds and other institutional investors have recently bought and sold shares of BBY. Rakuten Securities Inc. increased its holdings in shares of Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after acquiring an additional 311 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Best Buy during the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. raised its holdings in shares of Best Buy by 186.9% during the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after buying an additional 243 shares in the last quarter. OFI Invest Asset Management acquired a new position in Best Buy in the 4th quarter worth about $34,000. Finally, Trust Co. of Vermont raised its position in shares of Best Buy by 1,200.0% during the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Stock Up 2.2 %

BBY stock opened at $91.16 on Monday. The firm has a market cap of $19.49 billion, a PE ratio of 15.58, a P/E/G ratio of 2.01 and a beta of 1.43. 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 firm’s fifty day moving average is $85.76 and its 200 day moving average is $90.10. Best Buy has a one year low of $69.29 and a one year high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $9.63 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts forecast that Best Buy will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

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.