Brokerages Set Best Buy Co., Inc. (NYSE:BBY) Price Target at $81.50

Best Buy Co., Inc. (NYSE:BBY) has been assigned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $81.50.

A number of equities analysts recently commented on BBY shares. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research report on Friday, August 29th. Telsey Advisory Group restated an “outperform” rating and issued a $90.00 target price on shares of Best Buy in a research report on Friday, August 29th. Piper Sandler restated a “neutral” rating and issued a $75.00 target price (down previously from $82.00) on shares of Best Buy in a research report on Monday, July 14th. Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Evercore ISI lifted their target price on Best Buy from $75.00 to $77.00 and gave the company an “in-line” rating in a research report on Friday, August 29th.

Insider Buying and Selling at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, the chief accounting officer owned 20,132 shares in the company, valued at approximately $1,545,332.32. The trade was a 9.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 196,100 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The disclosure for this sale can be found here. Insiders sold a total of 201,833 shares of company stock worth $14,941,472 in the last quarter. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Best Buy

Institutional investors and hedge funds have recently modified their holdings of the company. Pinnacle Bancorp Inc. grew its stake in Best Buy by 108.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 342 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy during the 2nd quarter worth $26,000. Grove Bank & Trust grew its stake in Best Buy by 67.1% during the 1st quarter. Grove Bank & Trust now owns 431 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 173 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Best Buy during the 2nd quarter worth $33,000. Finally, MUFG Securities EMEA plc acquired a new position in Best Buy during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Stock Performance

Shares of Best Buy stock opened at $76.76 on Tuesday. Best Buy has a one year low of $54.99 and a one year high of $101.04. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. The business’s 50 day moving average price is $72.62 and its 200 day moving average price is $70.08.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter last year, the business posted $1.34 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, research analysts predict that Best Buy will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 18th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Thursday, September 18th. Best Buy’s payout ratio is currently 104.97%.

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.