Best Buy’s (BBY) Hold Rating Reiterated at Argus

Argus restated their hold rating on shares of Best Buy (NYSE:BBY) in a research note released on Tuesday morning, MarketBeat Ratings reports.

Other analysts have also issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Bank of America dropped their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a report on Friday, August 29th. Loop Capital dropped their price objective on shares of Best Buy from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 30th. Wedbush raised their price objective on shares of Best Buy from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $75.00 price objective (down previously from $82.00) on shares of Best Buy in a report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $82.59.

Best Buy Stock Performance

NYSE:BBY opened at $73.76 on Tuesday. Best Buy has a 12-month low of $54.99 and a 12-month high of $103.48. The company has a quick ratio of 0.36, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $15.50 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.96 and a beta of 1.19. The firm has a 50-day moving average price of $71.35 and a 200 day moving average price of $70.10.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Thursday, August 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter in the prior year, the business posted $1.34 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. Research analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Thursday, September 18th will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, September 18th. This represents a $3.80 annualized dividend and a dividend yield of 5.2%. Best Buy’s payout ratio is currently 104.97%.

Insider Activity

In related news, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.07, for a total transaction of $275,170.05. Following the completion of the sale, the chief accounting officer owned 22,150 shares of the company’s stock, valued at approximately $1,640,650.50. The trade was a 14.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Richard M. Schulze sold 196,100 shares of Best Buy stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.00, for a total transaction of $14,511,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 201,833 shares of company stock worth $14,941,472 over the last 90 days. 0.47% of the stock is owned by company insiders.

Institutional Trading of Best Buy

A number of institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its holdings in Best Buy by 35.3% in the 2nd quarter. Osaic Holdings Inc. now owns 18,479 shares of the technology retailer’s stock valued at $1,243,000 after purchasing an additional 4,824 shares during the period. Orion Porfolio Solutions LLC bought a new stake in Best Buy in the 2nd quarter valued at about $708,000. Thrivent Financial for Lutherans boosted its holdings in Best Buy by 17.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,540,944 shares of the technology retailer’s stock valued at $103,444,000 after purchasing an additional 230,984 shares during the period. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Best Buy in the 2nd quarter valued at approximately $395,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Best Buy in the 2nd quarter valued at approximately $244,000. Institutional investors own 80.96% of the company’s stock.

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.