Best Buy Co. (NYSE:BBY) has been assigned a consensus rating of “Hold” from the twenty-six research firms that are currently covering the firm. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.40.
Several brokerages recently commented on BBY. Morgan Stanley set a $43.00 price objective on shares of Best Buy and gave the company a “hold” rating in a research note on Saturday, November 19th. Jefferies Group restated a “buy” rating and issued a $0.15 price target on shares of Best Buy in a research report on Tuesday. Vetr upgraded shares of Best Buy from a “sell” rating to a “hold” rating and set a $34.32 price target for the company in a research report on Tuesday, August 16th. Raymond James Financial Inc. upped their price target on shares of Best Buy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Finally, Zacks Investment Research upgraded shares of Best Buy from a “sell” rating to a “hold” rating and set a $44.00 price target for the company in a research report on Monday, November 7th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new position in Best Buy during the third quarter worth $109,000. Mizuho Asset Management Co. Ltd. raised its position in Best Buy by 100.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,725 shares of the technology retailer’s stock worth $114,000 after buying an additional 1,866 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Best Buy by 24.2% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,124 shares of the technology retailer’s stock worth $119,000 after buying an additional 608 shares during the last quarter. Pacer Advisors Inc. raised its position in Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock worth $124,000 after buying an additional 253 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in Best Buy by 128.9% in the second quarter. Global X Management Co. LLC now owns 5,379 shares of the technology retailer’s stock worth $165,000 after buying an additional 3,029 shares during the period. 86.47% of the stock is currently owned by institutional investors.
Shares of Best Buy (NYSE:BBY) traded down 0.81% during trading on Friday, hitting $46.58. 2,707,033 shares of the stock were exchanged. The stock has a market cap of $14.73 billion, a P/E ratio of 13.90 and a beta of 1.51. The firm’s 50 day moving average price is $40.01 and its 200-day moving average price is $35.31. Best Buy has a 52 week low of $25.31 and a 52 week high of $47.29.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Thursday, November 17th. The technology retailer reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.15. The business earned $8.95 billion during the quarter, compared to the consensus estimate of $8.85 billion. Best Buy had a net margin of 2.78% and a return on equity of 24.18%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, analysts predict that Best Buy will post $3.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Tuesday, December 6th. Best Buy’s payout ratio is currently 33.73%.