Best Buy (BBY) Stock Price, News & Analysis

14 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Best Buy in the last year. There are currently 7 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" BBY shares.
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14 Wall Street research analysts have issued 1 year target prices for Best Buy's shares. Their BBY share price targets range from $65.00 to $90.00. On average, they expect the company's stock price to reach $77.43 in the next twelve months. This suggests a possible upside of 2.4% from the stock's current price.
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Best Buy's stock was trading at $78.28 at the start of the year. Since then, BBY shares have decreased by 3.4% and is now trading at $75.60.
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Best Buy saw a increase in short interest in 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 volume of 2,860,000 shares, the days-to-cover ratio is currently 4.8 days. Currently, 7.1% of the company's shares 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, topping the consensus estimate of $1.19 by $0.10. The technology retailer earned $9.76 billion during the quarter, compared to analysts' expectations of $9.90 billion. Best Buy had a net margin of 2.93% and a trailing twelve-month return on equity of 49.13%. Best Buy's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS.
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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 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 4.87%. 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 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 many different institutional and retail 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%), Norges Bank (0.98%) and Pacer Advisors Inc. (0.85%). 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.
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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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