Best Buy Co. (NYSE:BBY)‘s stock had its “buy” rating reiterated by research analysts at SunTrust Banks Inc. in a report issued on Wednesday.
Several other research analysts also recently weighed in on BBY. Vetr downgraded Best Buy from a “buy” rating to a “hold” rating and set a $33.48 target price on the stock. in a research note on Monday, August 8th. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Tuesday, July 5th. RBC Capital Markets reiterated a “buy” rating and issued a $42.00 target price (up from $36.00) on shares of Best Buy in a research note on Thursday, August 25th. Longbow Research began coverage on Best Buy in a research note on Thursday, June 16th. They issued a “neutral” rating on the stock. Finally, Piper Jaffray Cos. reiterated a “buy” rating and issued a $31.00 target price on shares of Best Buy in a research note on Thursday, June 23rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $37.69.
Best Buy (NYSE:BBY) traded up 0.25% on Wednesday, reaching $39.87. The company had a trading volume of 4,978,019 shares. The company has a market capitalization of $12.65 billion, a PE ratio of 12.97 and a beta of 1.47. The company’s 50-day moving average is $38.28 and its 200-day moving average is $33.53. Best Buy has a 52-week low of $25.31 and a 52-week high of $40.58.
Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, August 23rd. The technology retailer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Best Buy had a return on equity of 22.44% and a net margin of 2.62%. The company had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period last year, the business posted $0.49 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Best Buy will post $3.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 13th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Friday, September 9th. Best Buy’s payout ratio is 36.48%.
In other news, VP Mathew Watson sold 1,030 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $39.45, for a total value of $40,633.50. Following the completion of the sale, the vice president now owns 18,876 shares of the company’s stock, valued at $744,658.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.21% of the stock is owned by insiders.
Several large investors have recently modified their holdings of BBY. Renaissance Technologies LLC bought a new stake in shares of Best Buy during the first quarter valued at $76,085,000. Investec Asset Management LTD increased its stake in shares of Best Buy by 3,993.6% in the first quarter. Investec Asset Management LTD now owns 1,869,098 shares of the technology retailer’s stock valued at $60,634,000 after buying an additional 1,823,439 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Best Buy by 40.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,814,209 shares of the technology retailer’s stock valued at $116,715,000 after buying an additional 1,095,720 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Best Buy by 200.7% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,296,280 shares of the technology retailer’s stock valued at $35,926,000 after buying an additional 865,211 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Best Buy during the second quarter valued at $16,404,000. 87.63% of the stock is owned by institutional investors.
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