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

Shares of Best Buy Co., Inc. (NYSE:BBY) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $90.87.

A number of brokerages have weighed in on BBY. Jefferies Financial Group decreased their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Monday, April 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $95.00 target price on shares of Best Buy in a report on Thursday, May 30th. Citigroup upgraded Best Buy from a “sell” rating to a “buy” rating and increased their price target for the stock from $67.00 to $100.00 in a report on Monday, June 3rd. Truist Financial reiterated a “hold” rating and issued a $86.00 price objective on shares of Best Buy in a research note on Monday, July 1st. Finally, DA Davidson increased their target price on shares of Best Buy from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, May 31st.

Insider Activity at Best Buy

In related news, CEO Corie S. Barry sold 366 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Best Buy news, CEO Corie S. Barry sold 366 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $75.76, for a total value of $27,728.16. Following the completion of the sale, the chief executive officer now directly owns 431,231 shares of the company’s stock, valued at approximately $32,670,060.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jason J. Bonfig sold 3,500 shares of Best Buy stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $83.02, for a total transaction of $290,570.00. Following the transaction, the executive vice president now directly owns 50,714 shares in the company, valued at approximately $4,210,276.28. The disclosure for this sale can be found here. Insiders have sold a total of 2,004,129 shares of company stock valued at $166,398,223 over the last 90 days. Insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BBY. Norges Bank bought a new position in Best Buy during the fourth quarter valued at about $165,164,000. HS Management Partners LLC purchased a new stake in shares of Best Buy during the 4th quarter worth approximately $103,854,000. Epoch Investment Partners Inc. raised its holdings in shares of Best Buy by 11,586.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 686,128 shares of the technology retailer’s stock worth $53,710,000 after purchasing an additional 680,257 shares during the period. KBC Group NV lifted its stake in Best Buy by 320.4% in the fourth quarter. KBC Group NV now owns 860,388 shares of the technology retailer’s stock valued at $67,352,000 after purchasing an additional 655,750 shares during the last quarter. Finally, Swedbank AB bought a new position in Best Buy during the first quarter valued at $43,522,000. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Up 0.5 %

NYSE BBY opened at $86.01 on Friday. Best Buy has a 12 month low of $62.30 and a 12 month high of $93.72. The company has a current ratio of 1.01, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $18.55 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 2.76 and a beta of 1.48. The business’s 50-day moving average price is $81.48 and its two-hundred day moving average price is $78.19.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, May 30th. The technology retailer reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. Best Buy had a net margin of 2.90% and a return on equity of 47.56%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.96 billion. During the same quarter last year, the business earned $1.15 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. On average, analysts expect that Best Buy will post 6.11 EPS for the current year.

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Thursday, June 20th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Thursday, June 20th. Best Buy’s dividend payout ratio (DPR) 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.