According to the information presented in TheStreetRatingsTable, equity research analysts at TheStreet raised their rating of Best Buy (NYSE:BBY) from a “c+” rating to a “b” rating in a research note that was distributed to clients and investors on Wednesday.
In addition to these reports, there have been a great many others concerning BBY. The research note that Morgan Stanley published on Wednesday, August 31st, decreased their price objective for Best Buy from $82.00 to $80.00 and rated the stock as “equal weight.” The research note that UBS Group published on Wednesday, November 24th, increased their price objective for Best Buy to $80.00. Morgan Stanley and UBS Group both rated the stock as “equal weight.” As a consequence of the findings of a research report that was released on November 23rd, the “buy” rating and price target that Truist Financial has assigned to Best Buy have been increased from $69.00 to $80.00. Additionally, the price target has been raised from $60.00 to $80.00. Bank of America upgraded their “buy” rating and price target on Best Buy from $75 to $80 due to the findings of a research study that was published on the 23rd of November. The findings of the study were released on the same day. Research firm DA Davidson gave the company a “buy” rating in a report that was published on the 31st of August, and they lowered their price objective on Best Buy from $110.00 to $99.00. The report was distributed to the public. This action was taken in conjunction with the release of the report that was discussed earlier. The stock has been given a rating of “hold” by eight of the research specialists in the stock market, while a rating of “buy” has been assigned by nine of the specialists. The average recommendation for Best Buy right now is “Moderate Buy,” and the average price goal for the company is $81.44, according to data that was obtained from Bloomberg.com.
The opening price of the trading session on the NYSE BBY was $83.40 on Wednesday. The current market valuation of the company is $18.78 billion, which can be attributed to a number of factors, including its price-to-earnings ratio of 12.49, its EPS growth rate of 0.72, and its beta of 1.5. Although the current ratio is equal to 0.98 and the quick ratio is equal to 0.26, the debt-to-equity ratio, the current ratio, and the quick ratio are all equal to 0.38. The price of the stock’s simple moving average over the previous 200 days is $73.24, whereas the price of the stock’s simple moving average over the previous 50 days is $71.38. Within the past twelve months, Best Buy’s prices have ranged from $60.78 all the way up to $112.96 for the most expensive item it has sold.
On Tuesday, November 22, 2018, the most recent quarterly earnings report for Best Buy (NYSE:BBY) was made available to the public. The online retailer of consumer electronics reported earnings per share for the quarter of $1.38, which is $0.35 higher than the consensus estimate of $1.03 that was developed by industry professionals. The company’s quarterly sales came in at $10.59 billion, which is significantly higher than the $10.30 billion that industry analysts had anticipated they would be for the company’s sales. A return on equity of 57.26 percent and a net margin of 3.23 percent were both achieved by the business. The quarterly sales of the company experienced a decrease of 11.1% when compared to the same quarter in the previous year’s financial year. The corporation reported a profit of $2.08 per share for the same time period as the previous year. Sell-side analysts have predicted that during the current fiscal year, Best Buy will bring in a profit of $6.55 per share. These estimates were provided by the company.
Richard M. Schulze, who serves as the chairman of Best Buy, sold 366,100 shares of the company’s stock on November 28. At a price of $81.94 per share, a total of $29,998,234 worth of the stock was traded, resulting in revenue for the company. Following the successful conclusion of the transaction, the chairman has acquired 590,148 shares of company stock. Based on the current market price, each share is estimated to be worth approximately $48,356,727.12 dollars. One is able to gain access to a document that provides additional information regarding the transaction by going to the website of the Securities and Exchange Commission (SEC). In related news, Executive Vice President Kathleen Scarlett sold 25,071 shares of company stock on Monday, September 19, after exercising her option to do so. This was announced on the same day. A total of 1,814,388.27 dollars’ worth of the company’s stock was bought and sold at an average price of $72.37 per share. Following the completion of the acquisition, the executive vice president now has a total of 50,101 shares of the company, which are collectively worth a sum that amounts to $3,625,809.37. If you click on this link, you will be taken to the filing that was submitted to the Securities and Exchange Commission and where the transaction was discussed. If you do not click on this link, you will not be taken to the filing. Richard M. Schulze, who is also the chairman of the firm, sold 366,100 shares of the company’s stock on Monday, November 28. Richard M. Schulze is also the chairman of the firm. A total of $29,998,234 was received for the sale of the shares, which works out to an average price of $81.94 per share. As a direct result of the transaction, the chairman now has ownership of 590,148 shares of the company, each of which is estimated to be worth approximately $48,356,727.12 in today’s market. Disclosures that are related to the sale might be found in this section of the website. The sale of 391,325 shares of company stock by company insiders over the course of the past three months generated a total of $31,823,450 in proceeds for the sellers. At the present time, there is an insider ownership rate of 0.44% of the company’s stock.
Recent months have seen a number of hedge funds make adjustments to the BBY positions that are held within their respective investment portfolios. During the second quarter, the investment portfolio that is managed by BerganKDV Wealth Management LLC increased its stake in Best Buy by 13,566.7%. During the most recent reporting period, BerganKDV Wealth Management LLC bought an additional 407 shares of the technology retailer’s stock, which resulted in the firm’s holdings in the company’s stock being increased. Because of this, the business now has ownership of 410 shares of the parent company’s stock, which have a combined value of $27,000. During the course of the second quarter, Clear Street Markets LLC saw a rise in the total value of its holdings in Best Buy that was equivalent to a 376.4 percent increase. Clear Street Markets LLC now has a total of 424 shares of the technology retailer’s stock, which are currently valued at $28,000. This is a result of the company purchasing an additional 335 shares during the time period in question. Exos TFP Holdings LLC incurred approximately $29,000 in new capital expenditures during the third quarter so that it could purchase a new interest in Best Buy. During the course of the second quarter, Ellevest Inc. made a 91.1% increase in the proportion of the company’s holdings that were invested in Best Buy. After purchasing an additional 225 shares of the technology retailer’s stock during the most recent fiscal quarter, Ellevest Inc. now owns a total of 472 shares of the company’s stock. Each share is worth $31,000, and the company has a market value of $31,000. And finally, during the course of the second quarter, Glassman Wealth Services witnessed a rise in the value of its assets at Best Buy that was equivalent to an increase of 240 percent. As a result of acquiring an additional 334 shares during the time period in question, Glassman Wealth Services now holds a total of 472 shares of the technology retailer’s stock, which have a value of $31,000. These shares were purchased during the time period in question. The majority of the company’s stock, which accounts for 79.86% of its total value, is owned by institutional investors who have purchased significant share blocks.
Both the United States of America and Canada are served by the retail establishment owned and operated by Best Buy Co., Inc. The business is divided into two distinct divisions: the domestic and the international divisions. In addition to selling computing products such as desktops, notebooks, and peripherals; mobile phones along with the associated mobile network carrier commissions; networking products; tablets with e-readers; and smartwatches, its stores sell consumer electronics such as digital imaging, health and fitness, home theater, portable audio such as headphones and portable speakers, and smart home products. Additionally, consumer electronics such as digital imaging, health and fitness, home theater, portable audio such as headphones and portable speakers, and smart home products are sold in its retail locations.