Best Buy (NYSE:BBY) Upgraded to “B” at TheStreet

TheStreet upgraded shares of Best Buy (NYSE:BBYGet Rating) from a c+ rating to a b rating in a research report released on Wednesday, TheStreetRatingsTable reports.

Several other research firms also recently commented on BBY. Citigroup lifted their price target on shares of Best Buy from $61.00 to $72.00 and gave the stock a buy rating in a research note on Wednesday, November 23rd. UBS Group boosted their price target on shares of Best Buy to $80.00 in a research note on Thursday, November 24th. Wedbush raised their price target on Best Buy from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday, November 23rd. StockNews.com began coverage on shares of Best Buy in a report on Wednesday, October 12th. They set a hold rating for the company. Finally, Telsey Advisory Group raised their price target on shares of Best Buy from $82.00 to $88.00 and gave the stock an outperform rating in a report on Wednesday, November 23rd. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $81.44.

Best Buy Price Performance

BBY opened at $83.40 on Wednesday. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.72 and a beta of 1.50. The company has a quick ratio of 0.26, a current ratio of 0.98 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $71.38 and a 200-day moving average price of $73.24. Best Buy has a twelve month low of $60.78 and a twelve month high of $112.96.

Best Buy (NYSE:BBYGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The technology retailer reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.35. Best Buy had a return on equity of 57.26% and a net margin of 3.23%. The firm had revenue of $10.59 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the company earned $2.08 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. Equities analysts expect that Best Buy will post 6.55 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Tuesday, December 13th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Monday, December 12th. Best Buy’s dividend payout ratio (DPR) is presently 52.69%.

Insider Buying and Selling

In other Best Buy news, EVP Kathleen Scarlett sold 25,071 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $72.37, for a total value of $1,814,388.27. Following the sale, the executive vice president now owns 50,101 shares in the company, valued at approximately $3,625,809.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Best Buy news, Chairman Richard M. Schulze sold 366,100 shares of the firm’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $81.94, for a total transaction of $29,998,234.00. Following the completion of the transaction, the chairman now owns 590,148 shares in the company, valued at approximately $48,356,727.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathleen Scarlett sold 25,071 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $72.37, for a total value of $1,814,388.27. Following the sale, the executive vice president now directly owns 50,101 shares in the company, valued at $3,625,809.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 391,325 shares of company stock worth $31,823,450. 0.44% of the stock is owned by insiders.

Institutional Trading of Best Buy

Several hedge funds have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Best Buy during the 1st quarter valued at $38,000. Sentry Investment Management LLC boosted its position in shares of Best Buy by 14.7% in the 1st quarter. Sentry Investment Management LLC now owns 1,805 shares of the technology retailer’s stock worth $164,000 after purchasing an additional 232 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Best Buy by 21.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 10,084 shares of the technology retailer’s stock worth $916,000 after buying an additional 1,777 shares during the last quarter. Western Wealth Management LLC acquired a new position in Best Buy during the 1st quarter valued at about $634,000. Finally, Aspire Private Capital LLC raised its stake in Best Buy by 18.5% in the first quarter. Aspire Private Capital LLC now owns 4,566 shares of the technology retailer’s stock valued at $415,000 after buying an additional 712 shares during the last quarter. 79.86% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Company Profile

(Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.

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Analyst Recommendations for Best Buy (NYSE:BBY)

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