Best Buy (BBY) Stock Price, News & Analysis

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last twelve months. There are currently 7 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" BBY shares.
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14 Wall Street analysts have issued 1-year price objectives for Best Buy's stock. Their BBY share price targets range from $65.00 to $90.00. On average, they anticipate the company's share price to reach $77.43 in the next year. This suggests a possible upside of 2.6% from the stock's current price.
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Best Buy's stock was trading at $78.28 at the beginning of 2024. Since then, BBY stock has decreased by 3.6% and is now trading at $75.49.
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Best Buy saw a increase in short interest in the month of January. As of January 15th, there was short interest totaling 13,650,000 shares, an increase of 8.7% from the December 31st total of 12,560,000 shares. Based on an average daily trading volume, of 2,860,000 shares, the short-interest ratio is currently 4.8 days. Approximately 7.1% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, February 29th 2024.
View our BBY earnings forecast.

Best Buy will be holding an earnings conference call on Thursday, February 29th at 8:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Best Buy Co., Inc. (NYSE:BBY) posted its quarterly earnings data on Tuesday, November, 21st. The technology retailer reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.10. The technology retailer earned $9.76 billion during the quarter, compared to the consensus estimate of $9.90 billion. Best Buy had a net margin of 2.93% and a trailing twelve-month return on equity of 49.13%. The company's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS.
Read the conference call transcript.

Best Buy declared a quarterly dividend on Tuesday, November 21st. Stockholders of record on Tuesday, December 12th will be paid a dividend of $0.92 per share on Tuesday, January 2nd. This represents a $3.68 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Monday, December 11th.
Read our dividend analysis for BBY.

Best Buy (NYSE:BBY) pays an annual dividend of $3.68 per share and currently has a dividend yield of 4.92%. BBY has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 20 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 63.45%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, BBY will have a dividend payout ratio of 58.60% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for BBY.

ETFs with the largest weight of Best Buy (NYSE:BBY) stock in their portfolio include Invesco S&P Ultra Dividend Revenue ETF (RDIV), WBI Power Factor High Dividend ETF (WBIY), The Acquirers Fund (ZIG), ALPS Sector Dividend Dogs ETF (SDOG), AAM S&P 500 High Dividend Value ETF (SPDV), Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RCD), Invesco S&P 500 Equal Weight Consumer Discretionary ETF (RSPD) and Invesco High Yield Equity Dividend Achievers ETF (PEY).

Best Buy issued an update on its FY 2024 earnings guidance on Monday, December, 11th. The company provided earnings per share (EPS) guidance of 6.000-6.300 for the period, compared to the consensus EPS estimate of 6.200. The company issued revenue guidance of $43.1 billion-$43.7 billion, compared to the consensus revenue estimate of $44.2 billion.

1,251 employees have rated Best Buy Chief Executive Officer Corie Barry on Glassdoor.com. Corie Barry has an approval rating of 75% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Best Buy investors own include NVIDIA (NVDA), Intel (INTC), Home Depot (HD), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Micron Technology (MU), Bank of America (BAC), Walt Disney (DIS), QUALCOMM (QCOM) and Alibaba Group (BABA).

Best Buy's stock is owned by a number of retail and institutional investors. Top institutional investors include Charles Schwab Investment Management Inc. (2.08%), Dimensional Fund Advisors LP (1.30%), Federated Hermes Inc. (1.28%), Raymond James & Associates (1.21%), Pacer Advisors Inc. (0.85%) and Raymond James Financial Services Advisors Inc. (0.82%). Insiders that own company stock include Allison Peterson, Brian A Tilzer, Corie S Barry, Corie S Barry, Damien Harmon, Deborah Disanzo Eldracher, Jason J Bonfig, Kathleen Scarlett, Mario Jesus Marte, Mathew Watson, Matthew M Bilunas, Matthew M Bilunas, Rajendra M Mohan, Rajendra M Mohan, Richard M Schulze, Robert L Bass and Todd G Hartman.
View institutional ownership trends.

Shares of BBY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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