Best Buy Co.’s (BBY) “Hold” Rating Reaffirmed at KeyCorp

KeyCorp reiterated their hold rating on shares of Best Buy Co., Inc. (NYSE:BBY) in a research report report published on Friday morning.

A number of other research firms also recently weighed in on BBY. Oppenheimer Holdings, Inc. restated a hold rating on shares of Best Buy Co. in a research note on Tuesday, August 29th. BidaskClub upgraded Best Buy Co. from a buy rating to a strong-buy rating in a research note on Thursday, August 24th. Barclays PLC restated a buy rating and issued a $65.00 price target on shares of Best Buy Co. in a research note on Monday, August 28th. Piper Jaffray Companies restated a buy rating and issued a $70.00 price target on shares of Best Buy Co. in a research note on Wednesday, August 23rd. Finally, Jefferies Group LLC restated a hold rating and issued a $60.00 price target on shares of Best Buy Co. in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Best Buy Co. currently has a consensus rating of Buy and a consensus target price of $58.97.

Best Buy Co. (BBY) traded up $0.75 during trading hours on Friday, hitting $56.68. The stock had a trading volume of 3,899,400 shares, compared to its average volume of 4,424,113. The firm has a market capitalization of $16,733.39, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.13 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.69 and a current ratio of 1.42. Best Buy Co. has a 1-year low of $37.65 and a 1-year high of $63.32.

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

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In related news, CFO Corie S. Barry sold 787 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 54,159 shares in the company, valued at $3,245,207.28. 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 3,426 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $187,333.68. Following the completion of the transaction, the chief financial officer now owns 57,903 shares of the company’s stock, valued at $3,166,136.04. The disclosure for this sale can be found here. Insiders sold 166,259 shares of company stock worth $9,182,693 over the last 90 days. Company insiders own 1.21% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its stake in Best Buy Co. by 0.3% in the second quarter. Nordea Investment Management AB now owns 15,000 shares of the technology retailer’s stock valued at $860,000 after purchasing an additional 48 shares during the last quarter. Advisor Group Inc. increased its stake in Best Buy Co. by 1.2% in the second quarter. Advisor Group Inc. now owns 4,636 shares of the technology retailer’s stock valued at $265,000 after purchasing an additional 55 shares during the last quarter. CENTRAL TRUST Co increased its stake in Best Buy Co. by 1.9% in the second quarter. CENTRAL TRUST Co now owns 5,310 shares of the technology retailer’s stock valued at $304,000 after purchasing an additional 100 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Best Buy Co. by 6.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,774 shares of the technology retailer’s stock valued at $159,000 after purchasing an additional 163 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in Best Buy Co. by 1.7% in the second quarter. Thrivent Financial For Lutherans now owns 10,055 shares of the technology retailer’s stock valued at $576,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 88.28% of the company’s stock.

About Best Buy Co.

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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