Best Buy Co., Inc. (NYSE:BBY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Best Buy Co., Inc. (NYSE:BBY) have received a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $101.72.

A number of equities research analysts have issued reports on BBY shares. StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim reduced 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 report on Friday, November 29th. Wells Fargo & Company dropped 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. 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 research note on Friday, November 22nd. Finally, Morgan Stanley dropped 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 research note on Tuesday, January 21st.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Best Buy

Several institutional investors and hedge funds have recently bought and sold shares of BBY. Rakuten Securities Inc. lifted its stake in Best Buy by 971.9% in the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after purchasing an additional 311 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new stake in Best Buy in the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new stake in Best Buy in the 4th quarter worth approximately $32,000. Atlas Capital Advisors Inc. lifted its stake in Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 243 shares in the last quarter. Finally, Ancora Advisors LLC lifted its stake in Best Buy by 18,700.0% in the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer’s stock worth $32,000 after purchasing an additional 374 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Best Buy Trading Down 1.3 %

Shares of BBY stock opened at $89.80 on Monday. Best Buy has a 52-week low of $69.29 and a 52-week high of $103.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The company has a 50-day simple moving average of $86.05 and a two-hundred day simple moving average of $90.24. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.13 and a beta of 1.43.

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

Best Buy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s payout ratio is currently 64.27%.

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.