Best Buy (NYSE:BBY) Shares Up 0.1% – Here’s What Happened

by · The Cerbat Gem

Best Buy Co., Inc. (NYSE:BBY – Get Free Report)’s share price was up 0.1% during mid-day trading on Monday . The stock traded as high as $88.70 and last traded at $88.28. Approximately 712,321 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,064,090 shares. The stock had previously closed at $88.17.

Analyst Ratings Changes

Several brokerages have weighed in on BBY. The Goldman Sachs Group boosted their price objective on Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Guggenheim reduced their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Telsey Advisory Group cut their price target on Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. StockNews.com cut Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their target price on Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.06.

Check Out Our Latest Stock Analysis on BBY

Best Buy Stock Down 0.6 %

The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $18.83 billion, a P/E ratio of 15.09, a PEG ratio of 2.21 and a beta of 1.44. The firm’s 50 day moving average price is $92.84 and its two-hundred day moving average price is $89.97.

Best Buy (NYSE:BBY – Get Free Report) last released its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The business had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $9.63 billion. During the same period last year, the business posted $1.29 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.29%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BBY. Charles Schwab Investment Management Inc. lifted its stake in Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after purchasing an additional 241,988 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Best Buy by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock valued at $499,954,000 after buying an additional 120,185 shares during the last quarter. Raymond James & Associates lifted its position in shares of Best Buy by 1.8% in the third quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer’s stock valued at $355,374,000 after buying an additional 62,452 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Best Buy by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,055,743 shares of the technology retailer’s stock worth $257,569,000 after acquiring an additional 235,478 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Best Buy by 55.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock worth $241,347,000 after acquiring an additional 1,024,824 shares during the last quarter. 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.

Featured Stories