Best Buy Co., Inc. (NYSE:BBY - Get Free Report)'s stock price traded up 1% during trading on Wednesday . The stock traded as high as $88.27 and last traded at $87.61. 469,110 shares changed hands during trading, a decline of 85% from the average session volume of 3,074,912 shares. The stock had previously closed at $86.71.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BBY. Evercore ISI upped their target price on shares of Best Buy from $90.00 to $94.00 and gave the stock an "in-line" rating in a report on Friday, August 30th. The Goldman Sachs Group upped their price objective on shares of Best Buy from $95.00 to $116.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Wells Fargo & Company decreased their target price on shares of Best Buy from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 27th. StockNews.com lowered Best Buy from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Melius Research began coverage on shares of Best Buy in a research report on Monday, September 23rd. They set a "hold" rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Best Buy has an average rating of "Moderate Buy" and a consensus price target of $101.06.
Check Out Our Latest Research Report on BBY
Best Buy Stock Up 0.4 %
The firm has a 50 day moving average price of $92.52 and a 200-day moving average price of $90.10. The firm has a market cap of $18.69 billion, a PE ratio of 14.98, a PEG ratio of 2.21 and a beta of 1.44. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.
Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). The firm had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.29 earnings per share. Research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.
Best Buy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.32%. Best Buy's dividend payout ratio (DPR) is 64.27%.
Institutional Investors Weigh In On Best Buy
A number of hedge funds have recently added to or reduced their stakes in BBY. DGS Capital Management LLC acquired a new stake in shares of Best Buy in the 3rd quarter valued at approximately $215,000. Retirement Systems of Alabama grew its stake in Best Buy by 0.7% in the 3rd quarter. Retirement Systems of Alabama now owns 42,782 shares of the technology retailer's stock valued at $4,419,000 after acquiring an additional 306 shares during the last quarter. Franklin Resources Inc. raised its position in Best Buy by 36.5% during the third quarter. Franklin Resources Inc. now owns 753,471 shares of the technology retailer's stock worth $73,016,000 after acquiring an additional 201,562 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Best Buy by 24.5% in the third quarter. Tidal Investments LLC now owns 22,210 shares of the technology retailer's stock valued at $2,294,000 after purchasing an additional 4,370 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Best Buy in the third quarter valued at approximately $247,000. Institutional investors and hedge funds own 80.96% of the company's stock.
Best Buy Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Best Buy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Best Buy wasn't on the list.
While Best Buy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.