Best Buy Co., Inc. (BBY) Earns “Hold” Rating from KeyCorp

KeyCorp restated their hold rating on shares of Best Buy Co., Inc. (NYSE:BBY) in a research note issued to investors on Friday.

Several other research analysts have also commented on BBY. Loop Capital reiterated a buy rating and set a $72.00 price target on shares of Best Buy Co. in a report on Saturday, July 22nd. SunTrust Banks, Inc. set a $70.00 price target on Best Buy Co. and gave the stock a buy rating in a report on Saturday, July 22nd. BidaskClub upgraded Best Buy Co. from a hold rating to a buy rating in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a buy rating and issued a $70.00 price objective on shares of Best Buy Co. in a report on Thursday, August 3rd. Finally, Deutsche Bank AG restated a buy rating and issued a $60.00 price objective on shares of Best Buy Co. in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Best Buy Co. currently has a consensus rating of Buy and a consensus target price of $58.97.

Shares of Best Buy Co. (NYSE:BBY) opened at $56.97 on Friday. Best Buy Co. has a one year low of $38.56 and a one year high of $63.32. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.30. The stock has a market cap of $16,957.78, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.14 and a beta of 1.42.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The business had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. sell-side analysts forecast that Best Buy Co. will post 4.06 earnings per share for the current year.

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In other news, insider Shari L. Ballard sold 2,246 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total transaction of $134,580.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $59.92, for a total value of $47,157.04. Following the sale, the chief financial officer now owns 54,159 shares of the company’s stock, valued at approximately $3,245,207.28. The disclosure for this sale can be found here. Insiders have sold 166,259 shares of company stock valued at $9,182,693 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Best Buy Co. by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,828,752 shares of the technology retailer’s stock worth $276,833,000 after acquiring an additional 154,426 shares in the last quarter. Bank of New York Mellon Corp raised its position in Best Buy Co. by 27.5% in the third quarter. Bank of New York Mellon Corp now owns 4,015,020 shares of the technology retailer’s stock worth $228,696,000 after acquiring an additional 866,787 shares in the last quarter. Renaissance Technologies LLC raised its position in Best Buy Co. by 762.4% in the second quarter. Renaissance Technologies LLC now owns 3,528,900 shares of the technology retailer’s stock worth $202,312,000 after acquiring an additional 3,119,700 shares in the last quarter. APG Asset Management N.V. raised its position in Best Buy Co. by 27.6% in the third quarter. APG Asset Management N.V. now owns 3,340,288 shares of the technology retailer’s stock worth $190,263,000 after acquiring an additional 723,500 shares in the last quarter. Finally, LSV Asset Management raised its position in Best Buy Co. by 3.5% in the second quarter. LSV Asset Management now owns 2,015,293 shares of the technology retailer’s stock worth $115,536,000 after acquiring an additional 69,000 shares in the last quarter. Institutional investors and hedge funds own 87.52% of the company’s stock.

Best Buy Co. Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

Analyst Recommendations for Best Buy Co. (NYSE:BBY)

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