Wedbush Increases Best Buy (NYSE:BBY) Price Target to $95.00

Best Buy (NYSE:BBY) had its target price lifted by Wedbush from $85.00 to $95.00 in a research note published on Friday morning, Benzinga reports. Wedbush currently has a neutral rating on the technology retailer’s stock. Wedbush also issued estimates for Best Buy’s Q1 2026 earnings at $1.41 EPS, Q3 2026 earnings at $1.53 EPS and Q4 2026 earnings at $2.74 EPS.

Other equities research analysts also recently issued research reports about the stock. UBS Group increased their price objective on shares of Best Buy from $106.00 to $123.00 and gave the stock a buy rating in a research report on Friday. DA Davidson boosted their price target on Best Buy from $90.00 to $95.00 and gave the company a buy rating in a report on Friday, May 31st. Barclays lifted their target price on Best Buy from $81.00 to $95.00 and gave the company an equal weight rating in a research report on Friday. Loop Capital raised their price target on shares of Best Buy from $100.00 to $110.00 and gave the stock a buy rating in a research note on Friday. Finally, Citigroup raised shares of Best Buy from a sell rating to a buy rating and boosted their price objective for the stock from $67.00 to $100.00 in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $100.94.

Best Buy Price Performance

BBY opened at $100.40 on Friday. The stock has a market cap of $21.66 billion, a P/E ratio of 17.58, a P/E/G ratio of 3.20 and a beta of 1.48. Best Buy has a 12 month low of $62.30 and a 12 month high of $103.71. The company has a quick ratio of 0.33, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $86.16 and a 200 day simple moving average of $81.37.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same period in the prior year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts expect that Best Buy will post 6.27 EPS for the current year.

Best Buy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 19th will be paid a $0.94 dividend. The ex-dividend date is Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 3.75%. Best Buy’s dividend payout ratio (DPR) is currently 65.85%.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 88,542 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the transaction, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Best Buy news, Chairman Richard M. Schulze sold 691,328 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $88.46, for a total transaction of $61,154,874.88. Following the completion of the sale, the chairman now directly owns 14,911,525 shares in the company, valued at $1,319,073,501.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 88,542 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total value of $7,813,831.50. Following the sale, the chairman now owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,383,370 shares of company stock worth $122,233,276. Company insiders own 0.59% of the company’s stock.

Institutional Trading of Best Buy

Several hedge funds have recently added to or reduced their stakes in BBY. Norges Bank acquired a new position in Best Buy in the 4th quarter valued at $165,164,000. Ninety One UK Ltd bought a new stake in shares of Best Buy in the second quarter valued at about $121,325,000. Thrivent Financial for Lutherans boosted its position in shares of Best Buy by 4,337.6% in the second quarter. Thrivent Financial for Lutherans now owns 1,099,495 shares of the technology retailer’s stock valued at $92,677,000 after acquiring an additional 1,074,718 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Best Buy by 55.7% in the second quarter. Bank of New York Mellon Corp now owns 2,863,291 shares of the technology retailer’s stock valued at $241,347,000 after acquiring an additional 1,024,824 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its position in Best Buy by 11,586.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 686,128 shares of the technology retailer’s stock worth $53,710,000 after acquiring an additional 680,257 shares during the period. 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.