Best Buy Co., Inc. (NYSE:BBYGet Rating) has been assigned an average recommendation of “Hold” from the twenty-one brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $78.44.

Several equities analysts have recently commented on the stock. TheStreet downgraded shares of Best Buy from a “b-” rating to a “c” rating in a report on Thursday, May 25th. StockNews.com assumed coverage on shares of Best Buy in a research note on Thursday, May 18th. They set a “hold” rating on the stock. SpectralCast reaffirmed a “maintains” rating on shares of Best Buy in a research note on Friday, May 26th. Citigroup reduced their target price on shares of Best Buy from $72.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, May 18th. Finally, Wells Fargo & Company reduced their target price on shares of Best Buy from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 26th.

Best Buy Stock Performance

Shares of NYSE BBY opened at $72.83 on Friday. The firm has a 50 day moving average of $73.29 and a 200 day moving average of $79.19. The company has a current ratio of 0.98, a quick ratio of 0.32 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.51. Best Buy has a 12-month low of $60.78 and a 12-month high of $93.32.

Best Buy (NYSE:BBYGet Rating) last posted its quarterly earnings results on Thursday, May 25th. The technology retailer reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.53 billion. Best Buy had a net margin of 2.93% and a return on equity of 51.95%. The company’s revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.57 earnings per share. On average, research analysts anticipate that Best Buy will post 6.02 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Wednesday, June 14th. Best Buy’s payout ratio is presently 62.27%.

Insider Buying and Selling

In other news, CEO Corie S. Barry sold 25,511 shares of the company’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $77.95, for a total transaction of $1,988,582.45. Following the completion of the sale, the chief executive officer now owns 364,041 shares of the company’s stock, valued at $28,376,995.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Best Buy news, CAO Mathew Watson sold 578 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $71.82, for a total value of $41,511.96. Following the transaction, the chief accounting officer now owns 22,974 shares of the company’s stock, valued at $1,649,992.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Corie S. Barry sold 25,511 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $77.95, for a total transaction of $1,988,582.45. Following the completion of the transaction, the chief executive officer now directly owns 364,041 shares in the company, valued at approximately $28,376,995.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,617 shares of company stock valued at $6,189,818. 0.56% of the stock is owned by corporate insiders.

Institutional Trading of Best Buy

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new stake in shares of Best Buy during the fourth quarter worth approximately $26,000. Arlington Partners LLC purchased a new stake in shares of Best Buy during the first quarter worth approximately $28,000. Exos TFP Holdings LLC purchased a new position in Best Buy in the third quarter valued at approximately $29,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in Best Buy in the fourth quarter valued at approximately $30,000. Finally, Clear Street Markets LLC increased its stake in Best Buy by 90.6% in the first quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.

About Best Buy

(Get Rating)

Best Buy Co, Inc engages in the provision of consumer technology products and services. It operates through two business segments: Domestic and International. The Domestic segment includes operations in all states, districts, and territories of the U.S., operating under various brand names, including Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster, and Pacific Sales.

Further Reading

Analyst Recommendations for Best Buy (NYSE:BBY)

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