Brokerages Set Best Buy Co., Inc. (NYSE:BBY) PT at $101.06

Best Buy Co., Inc. (NYSE:BBY) has been given an average rating of “Moderate Buy” by the nineteen analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $101.06.

Several brokerages have commented on BBY. Telsey Advisory Group decreased their target price 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. Melius Research assumed coverage on Best Buy in a research report on Monday, September 23rd. They issued a “hold” rating and a $100.00 target price for the company. Loop Capital reissued a “buy” rating and set a $100.00 price target on shares of Best Buy in a research report on Wednesday, December 18th. UBS Group reduced their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 27th.

Best Buy Stock Performance

BBY opened at $83.62 on Friday. Best Buy has a 1-year low of $69.29 and a 1-year high of $103.71. The company has a market capitalization of $17.88 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44. The business has a 50 day moving average price of $88.62 and a two-hundred day moving average price of $90.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22.

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

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.50%. The ex-dividend date is Tuesday, December 17th. Best Buy’s payout ratio is 64.27%.

Insiders Place Their Bets

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on 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. This trade represents a 42.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.59% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Richardson Financial Services Inc. increased its position in Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock worth $27,000 after buying an additional 210 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy during the third quarter valued at about $40,000. LRI Investments LLC grew its position in Best Buy by 632.1% during the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after buying an additional 335 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Best Buy during the third quarter worth about $44,000. Finally, Whittier Trust Co. increased its stake in Best Buy by 53.3% during the second quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after acquiring an additional 171 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Company Profile

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.