Best Buy (NYSE:BBY) Price Target Lowered to $73.00 at Truist Financial

Best Buy (NYSE:BBY) had its price target lowered by Truist Financial from $77.00 to $73.00 in a report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has a hold rating on the technology retailer’s stock.

Other equities research analysts have also issued research reports about the stock. Loop Capital upped their target price on shares of Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Barclays lowered their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Evercore ISI decreased their price target on Best Buy from $85.00 to $80.00 and set an “in-line” rating for the company in a report on Tuesday, December 9th. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Best Buy in a research note on Wednesday, November 26th. Finally, UBS Group upped their target price on shares of Best Buy from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.37.

Best Buy Stock Down 0.7%

BBY stock opened at $67.67 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $91.68. The stock’s 50 day simple moving average is $72.77 and its 200 day simple moving average is $73.59. The company has a market cap of $14.18 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The company had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. Best Buy’s revenue for the quarter was up 2.4% on a year-over-year basis. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. On average, research analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were given a dividend of $0.95 per share. The ex-dividend date was Tuesday, December 16th. This represents a $3.80 annualized dividend and a yield of 5.6%. Best Buy’s dividend payout ratio is presently 125.83%.

Insider Transactions at Best Buy

In other Best Buy news, Chairman Richard M. Schulze sold 74,553 shares of Best Buy stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $84.31, for a total value of $6,285,563.43. Following the sale, the chairman owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,534,993 shares of company stock worth $126,626,855 in the last three months. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Best Buy

A number of hedge funds have recently modified their holdings of BBY. Woodline Partners LP increased its position in Best Buy by 40.1% in the first quarter. Woodline Partners LP now owns 16,436 shares of the technology retailer’s stock worth $1,210,000 after buying an additional 4,701 shares during the last quarter. Voya Investment Management LLC increased its holdings in Best Buy by 0.8% in the 1st quarter. Voya Investment Management LLC now owns 63,903 shares of the technology retailer’s stock worth $4,704,000 after acquiring an additional 496 shares during the last quarter. Parallel Advisors LLC raised its stake in Best Buy by 46.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,475 shares of the technology retailer’s stock valued at $166,000 after acquiring an additional 788 shares during the period. Czech National Bank lifted its holdings in Best Buy by 5.4% during the second quarter. Czech National Bank now owns 47,086 shares of the technology retailer’s stock valued at $3,161,000 after purchasing an additional 2,410 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in Best Buy by 34.0% during the second quarter. Pallas Capital Advisors LLC now owns 9,114 shares of the technology retailer’s stock worth $612,000 after purchasing an additional 2,310 shares during the period. Institutional investors own 80.96% of the company’s stock.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.