Best Buy Co., Inc. (NYSE:BBY) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Best Buy Co., Inc. (NYSE:BBY - Get Free Report) have received a consensus rating of "Moderate Buy" from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $101.72.

Several analysts recently issued reports on BBY shares. Guggenheim dropped their price objective on shares of Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Citigroup dropped their price objective on shares of Best Buy from $109.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $111.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. StockNews.com lowered shares of Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, Morgan Stanley decreased their target price on shares of Best Buy from $105.00 to $100.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st.

Best Buy Price Performance

Shares of BBY stock traded down $0.12 on Monday, reaching $90.98. 3,447,801 shares of the company were exchanged, compared to its average volume of 2,454,895. The company has a market cap of $19.45 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 2.13 and a beta of 1.43. The business has a 50-day moving average price of $86.00 and a 200 day moving average price of $90.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. Best Buy has a 1 year low of $69.29 and a 1 year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $9.63 billion. During the same period in the prior year, the company posted $1.29 EPS. The firm's revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy's dividend payout ratio (DPR) is 64.27%.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.59% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BBY. Raymond James Financial Inc. acquired a new position in Best Buy in the fourth quarter valued at $514,483,000. Norges Bank acquired a new position in Best Buy in the fourth quarter valued at $178,015,000. Northern Trust Corp increased its stake in Best Buy by 31.3% in the fourth quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer's stock valued at $252,495,000 after purchasing an additional 701,287 shares during the period. Invesco Ltd. increased its stake in Best Buy by 20.5% in the fourth quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock valued at $316,784,000 after purchasing an additional 629,180 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Best Buy by 101.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,114,928 shares of the technology retailer's stock valued at $95,661,000 after acquiring an additional 561,413 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

About Best Buy

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.