Telsey Advisory Group Downgrades Best Buy (NYSE:BBY) to Market Perform

Telsey Advisory Group cut shares of Best Buy (NYSE:BBY) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has $95.00 price target on the technology retailer’s stock. Telsey Advisory Group also issued estimates for Best Buy’s Q1 2026 earnings at $1.20 EPS, Q2 2026 earnings at $1.38 EPS, Q3 2026 earnings at $1.47 EPS and Q4 2026 earnings at $2.77 EPS.

A number of other research analysts have also commented on BBY. UBS Group upped their price target on shares of Best Buy from $82.00 to $85.00 and gave the company a neutral rating in a research note on Friday, March 1st. Wedbush increased their target price on shares of Best Buy from $75.00 to $85.00 and gave the stock a neutral rating in a research report on Friday, March 1st. Citigroup decreased their target price on shares of Best Buy from $76.00 to $67.00 and set a sell rating on the stock in a research report on Tuesday, May 7th. Morgan Stanley increased their target price on shares of Best Buy from $80.00 to $82.00 and gave the stock an equal weight rating in a research report on Friday, March 1st. Finally, Truist Financial increased their target price on shares of Best Buy from $68.00 to $87.00 and gave the stock a hold rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Best Buy presently has a consensus rating of Hold and an average price target of $84.64.

Best Buy Stock Up 2.7 %

Shares of BBY opened at $71.50 on Thursday. Best Buy has a 52 week low of $62.30 and a 52 week high of $86.11. The firm has a market cap of $15.47 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50. The firm’s 50-day simple moving average is $76.44 and its 200 day simple moving average is $74.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 1.00.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, February 29th. The technology retailer reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.58 billion. During the same quarter in the prior year, the business earned $2.61 EPS. Best Buy’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts forecast that Best Buy will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend was Wednesday, March 20th. This is an increase from Best Buy’s previous quarterly dividend of $0.92. Best Buy’s dividend payout ratio is 66.08%.

Insider Transactions at Best Buy

In other news, CEO Corie S. Barry sold 28,042 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the sale, the chief executive officer now owns 429,159 shares of the company’s stock, valued at approximately $35,105,206.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Matthew M. Bilunas sold 8,258 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total value of $675,504.40. Following the completion of the transaction, the chief financial officer now owns 90,694 shares of the company’s stock, valued at approximately $7,418,769.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Corie S. Barry sold 28,042 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $2,293,835.60. Following the completion of the transaction, the chief executive officer now directly owns 429,159 shares of the company’s stock, valued at approximately $35,105,206.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,023 shares of company stock valued at $4,253,900. Company insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Best Buy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC lifted its stake in Best Buy by 8.4% in the 4th quarter. Cerity Partners LLC now owns 103,459 shares of the technology retailer’s stock valued at $8,100,000 after purchasing an additional 8,042 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Best Buy during the fourth quarter worth $317,000. Mirabella Financial Services LLP acquired a new position in shares of Best Buy during the third quarter worth $831,000. Principal Securities Inc. acquired a new position in shares of Best Buy during the fourth quarter worth $341,000. Finally, Private Advisor Group LLC acquired a new position in shares of Best Buy during the fourth quarter worth $328,000. Institutional investors own 80.96% of the company’s stock.

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.