Best Buy (NYSE:BBY) Price Target Cut to $67.00 by Analysts at Citigroup

Best Buy (NYSE:BBY) had its price target reduced by Citigroup from $82.00 to $67.00 in a report issued on Friday morning,MarketScreener reports. They currently have a neutral rating on the technology retailer’s stock.

A number of other analysts have also weighed in on BBY. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target on shares of Best Buy in a research note on Wednesday, November 26th. Morgan Stanley lowered their price objective on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Barclays cut their target price on Best Buy from $81.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, January 8th. Daiwa Securities Group increased their price target on Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Finally, The Goldman Sachs Group lowered their price target on Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Best Buy has a consensus rating of “Hold” and an average target price of $80.05.

Best Buy Stock Up 1.4%

BBY opened at $65.80 on Friday. The stock’s 50 day moving average price is $68.83 and its 200 day moving average price is $73.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The stock has a market cap of $13.79 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.55 and a beta of 1.44. Best Buy has a 12 month low of $54.99 and a 12 month high of $91.68.

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

Best Buy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Tuesday, December 16th. Best Buy’s dividend payout ratio is 125.83%.

Institutional Investors Weigh In On Best Buy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC boosted its position in shares of Best Buy by 23.6% in the 4th quarter. Kestra Advisory Services LLC now owns 14,123 shares of the technology retailer’s stock valued at $945,000 after purchasing an additional 2,693 shares during the period. Maverick Capital Ltd. lifted its stake in Best Buy by 1.9% during the fourth quarter. Maverick Capital Ltd. now owns 35,479 shares of the technology retailer’s stock valued at $2,375,000 after buying an additional 649 shares in the last quarter. Financial Sense Advisors Inc. lifted its stake in Best Buy by 1,273.6% during the fourth quarter. Financial Sense Advisors Inc. now owns 65,042 shares of the technology retailer’s stock valued at $4,353,000 after buying an additional 60,307 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Best Buy by 6.2% in the fourth quarter. UMB Bank n.a. now owns 3,158 shares of the technology retailer’s stock worth $211,000 after buying an additional 185 shares during the period. Finally, Quarry LP purchased a new position in shares of Best Buy in the fourth quarter worth approximately $62,000. 80.96% of the stock is owned by institutional investors and hedge funds.

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.