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

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

A number of other brokerages have also commented 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 shares of 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 set 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 set 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 set a $60.00 price target on shares of Best Buy Co. in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $58.97.

Best Buy Co. (BBY) opened at $56.68 on Friday. 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. The stock has a market cap of $16,957.78, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.14 and a beta of 1.42.

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

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In other Best Buy Co. news, insider Kathleen Scarlett sold 10,797 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $52.49, for a total transaction of $566,734.53. Following the sale, the insider now directly owns 25,690 shares of the company’s stock, valued at $1,348,468.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hubert Joly sold 106,942 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total transaction of $5,847,588.56. Following the sale, the chief executive officer now directly owns 645,222 shares in the company, valued at $35,280,738.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,259 shares of company stock worth $9,182,693. Insiders own 0.84% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBY. FNY Managed Accounts LLC lifted its holdings in Best Buy Co. by 18,281.8% during the second quarter. FNY Managed Accounts LLC now owns 2,000 shares of the technology retailer’s stock valued at $114,000 after purchasing an additional 2,011 shares during the last quarter. Huntington National Bank lifted its holdings in Best Buy Co. by 18.4% during the second quarter. Huntington National Bank now owns 2,050 shares of the technology retailer’s stock valued at $118,000 after purchasing an additional 318 shares during the last quarter. Exane Derivatives lifted its holdings in Best Buy Co. by 65.5% during the second quarter. Exane Derivatives now owns 2,553 shares of the technology retailer’s stock valued at $146,000 after purchasing an additional 1,010 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 worth $159,000 after buying an additional 163 shares in the last quarter. Finally, Smithfield Trust Co. purchased a new stake in shares of Best Buy Co. in the third quarter worth about $178,000. 87.52% of the stock is currently owned by institutional investors and hedge funds.

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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