Best Buy (NYSE:BBY) Trading Up 0.8% – Time to Buy?

Shares of Best Buy Co., Inc. (NYSE:BBY) were up 0.8% on Monday . The stock traded as high as $90.83 and last traded at $90.75. Approximately 702,754 shares traded hands during trading, a decline of 77% from the average daily volume of 3,052,174 shares. The stock had previously closed at $90.00.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BNP Paribas raised Best Buy to a “strong-buy” rating in a research report on Thursday, August 29th. Loop Capital decreased their price target on shares of Best Buy from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. The Goldman Sachs Group increased their target price on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Wedbush raised their target price on shares of Best Buy from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Melius Research began coverage on shares of Best Buy in a research note on Monday, September 23rd. They set a “hold” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.06.

Best Buy Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 2.28 and a beta of 1.44. The business has a fifty day simple moving average of $93.47 and a 200 day simple moving average of $89.61.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the firm earned $1.29 EPS. Best Buy’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts expect that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.27%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Institutional Trading of Best Buy

Large investors have recently modified their holdings of the stock. Richardson Financial Services Inc. raised its position in shares of Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer’s stock valued at $27,000 after buying an additional 210 shares in the last quarter. Innealta Capital LLC acquired a new position in Best Buy during the second quarter worth about $35,000. Harbor Capital Advisors Inc. bought a new position in shares of Best Buy in the third quarter worth about $40,000. LRI Investments LLC boosted its stake in shares of Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Best Buy by 53.3% during the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer’s stock valued at $41,000 after purchasing an additional 171 shares during the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Company Profile

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.