Other equities research analysts also recently issued reports about the stock. Deutsche Bank AG reaffirmed a buy rating and set a $32.00 target price on shares of Best Buy in a research note on Tuesday, June 28th. Longbow Research assumed coverage on shares of Best Buy in a research note on Thursday, June 16th. They set a neutral rating on the stock. Barclays PLC reaffirmed a buy rating and set a $45.00 target price on shares of Best Buy in a research note on Thursday, June 23rd. Vetr downgraded shares of Best Buy from a buy rating to a hold rating and set a $31.50 target price on the stock. in a research note on Thursday, June 23rd. Finally, Credit Suisse Group AG reaffirmed a hold rating and set a $31.00 target price on shares of Best Buy in a research note on Thursday, June 23rd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Best Buy has an average rating of Hold and an average target price of $37.78.
Shares of Best Buy (NYSE:BBY) opened at 39.47 on Wednesday. The firm has a market capitalization of $12.52 billion, a P/E ratio of 12.84 and a beta of 1.47. Best Buy has a 1-year low of $25.31 and a 1-year high of $40.58. The stock’s 50 day moving average is $38.28 and its 200 day moving average is $33.71.
Best Buy (NYSE:BBY) last announced its earnings results on Tuesday, August 23rd. The technology retailer reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. Best Buy had a net margin of 2.62% and a return on equity of 22.44%. The firm had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period in the prior year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts predict that Best Buy will post $3.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, September 9th. This represents a $1.12 annualized dividend and a yield of 2.84%. Best Buy’s dividend payout ratio (DPR) is currently 36.48%.
In other Best Buy news, VP Mathew Watson sold 1,030 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $39.45, for a total transaction of $40,633.50. Following the completion of the transaction, the vice president now directly owns 18,876 shares in the company, valued at approximately $744,658.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.21% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Mizuho Asset Management Co. Ltd. increased its position in Best Buy by 100.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,725 shares of the technology retailer’s stock valued at $114,000 after buying an additional 1,866 shares during the period. Pacer Advisors Inc. increased its position in Best Buy by 6.6% in the second quarter. Pacer Advisors Inc. now owns 4,063 shares of the technology retailer’s stock valued at $124,000 after buying an additional 253 shares during the period. Global X Management Co. LLC increased its position in Best Buy by 128.9% in the second quarter. Global X Management Co. LLC now owns 5,379 shares of the technology retailer’s stock valued at $165,000 after buying an additional 3,029 shares during the period. Loomis Sayles & Co. L P increased its position in Best Buy by 2,685.2% in the second quarter. Loomis Sayles & Co. L P now owns 5,821 shares of the technology retailer’s stock valued at $178,000 after buying an additional 5,612 shares during the period. Finally, Alambic Investment Management L.P. acquired a new position in Best Buy during the second quarter valued at $211,000. Hedge funds and other institutional investors own 87.66% of the company’s stock.
Best Buy Company Profile
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It operates through two segments: Domestic and International. The Domestic segment consists of the operations in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home.
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