Best Buy Co., Inc. (NYSE:BBY) Given Average Recommendation of "Hold" by Brokerages

Shares of Best Buy Co., Inc. (NYSE:BBY - Get Free Report) have received an average recommendation of "Hold" from the twenty brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $91.28.

Several analysts recently issued reports on the company. Bank of America cut their price objective on Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group cut their price target on Best Buy from $106.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Loop Capital reissued a "negative" rating on shares of Best Buy in a research note on Wednesday, March 5th. Citigroup reaffirmed a "neutral" rating and set a $70.00 price objective (down previously from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. Finally, Telsey Advisory Group decreased their target price on shares of Best Buy from $110.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th.

Best Buy Stock Up 1.2 %

Shares of BBY traded up $0.72 during trading hours on Tuesday, reaching $60.47. The company's stock had a trading volume of 5,163,129 shares, compared to its average volume of 3,226,509. The company has a 50 day moving average of $77.46 and a two-hundred day moving average of $85.45. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 2.10 and a beta of 1.42. Best Buy has a 1-year low of $54.99 and a 1-year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.18. The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same quarter in the prior year, the business earned $2.72 EPS. As a group, research analysts predict that Best Buy will post 6.18 EPS for the current fiscal year.

Best Buy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 6.28%. This is a positive change from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, March 25th. Best Buy's dividend payout ratio (DPR) is currently 88.99%.

Insider Transactions at Best Buy

In other Best Buy news, CEO Corie S. Barry purchased 13,500 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the purchase, the chief executive officer now directly owns 378,780 shares of the company's stock, valued at approximately $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd G. Hartman sold 4,893 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the transaction, the insider now owns 32,320 shares of the company's stock, valued at approximately $2,348,048. This represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,355 shares of company stock worth $5,767,213. 0.59% of the stock is currently owned by company insiders.

Institutional Trading of Best Buy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in Best Buy by 5.2% during the 4th quarter. IFP Advisors Inc now owns 2,538 shares of the technology retailer's stock worth $218,000 after purchasing an additional 125 shares in the last quarter. Mariner LLC boosted its holdings in shares of Best Buy by 0.3% in the fourth quarter. Mariner LLC now owns 43,215 shares of the technology retailer's stock valued at $3,708,000 after buying an additional 129 shares during the period. LRI Investments LLC increased its position in shares of Best Buy by 36.3% during the fourth quarter. LRI Investments LLC now owns 529 shares of the technology retailer's stock worth $45,000 after acquiring an additional 141 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of Best Buy by 19.7% during the fourth quarter. Rothschild Investment LLC now owns 861 shares of the technology retailer's stock worth $74,000 after acquiring an additional 142 shares during the period. Finally, Independent Advisor Alliance raised its holdings in shares of Best Buy by 5.0% during the fourth quarter. Independent Advisor Alliance now owns 3,002 shares of the technology retailer's stock worth $258,000 after acquiring an additional 142 shares during the period. Institutional investors own 80.96% of the company's stock.

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.