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Shares of Best Buy Co., Inc. (NYSE:BBY - Get Rating) have received an average rating of "Hold" from the eighteen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $80.43.

Several equities research analysts recently commented on BBY shares. TheStreet downgraded shares of Best Buy from a "b-" rating to a "c+" rating in a research report on Tuesday, July 5th. Citigroup lifted their price objective on shares of Best Buy from $59.00 to $61.00 and gave the company a "sell" rating in a research note on Wednesday. Piper Sandler reduced their price target on shares of Best Buy from $91.00 to $84.00 and set an "overweight" rating for the company in a research report on Monday, August 8th. Telsey Advisory Group cut their price objective on shares of Best Buy from $88.00 to $82.00 and set an "outperform" rating on the stock in a report on Thursday, July 28th. Finally, Barclays downgraded shares of Best Buy from an "overweight" rating to an "equal weight" rating and set a $80.00 price target on the stock. in a report on Wednesday, May 25th.Best Buy Stock Down 5.6 %

Best Buy stock opened at $70.69 on Thursday. Best Buy has a twelve month low of $64.29 and a twelve month high of $141.97. The company has a 50 day moving average of $74.77 and a 200-day moving average of $84.57. The stock has a market capitalization of $15.92 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.50. The company has a quick ratio of 0.24, a current ratio of 0.96 and a debt-to-equity ratio of 0.42.

Best Buy (NYSE:BBY - Get Rating) last issued its quarterly earnings data on Tuesday, August 30th. The technology retailer reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.27. Best Buy had a net margin of 4.33% and a return on equity of 63.39%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.25 billion. During the same period in the prior year, the firm earned $2.98 earnings per share. The company's revenue was down 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Best Buy will post 6.09 EPS for the current fiscal year. Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Shareholders of record on Tuesday, September 20th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, September 19th. Best Buy's dividend payout ratio is 39.07%. Insiders Place Their Bets

In related news, CEO Corie S. Barry sold 4,388 shares of the company's stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $307,160.00. Following the transaction, the chief executive officer now directly owns 315,313 shares of the company's stock, valued at approximately $22,071,910. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Matthew M. Bilunas sold 890 shares of Best Buy stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $79.09, for a total value of $70,390.10. Following the sale, the chief financial officer now owns 59,513 shares of the company's stock, valued at approximately $4,706,883.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corie S. Barry sold 4,388 shares of Best Buy stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $307,160.00. Following the sale, the chief executive officer now directly owns 315,313 shares in the company, valued at approximately $22,071,910. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,334 shares of company stock worth $381,538. 0.44% of the stock is currently owned by company insiders. Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Best Buy during the first quarter worth about $27,000. BerganKDV Wealth Management LLC raised its stake in shares of Best Buy by 13,566.7% during the second quarter. BerganKDV Wealth Management LLC now owns 410 shares of the technology retailer's stock worth $27,000 after purchasing an additional 407 shares during the last quarter. Clear Street Markets LLC raised its position in Best Buy by 376.4% in the second quarter. Clear Street Markets LLC now owns 424 shares of the technology retailer's stock worth $28,000 after acquiring an additional 335 shares in the last quarter. Adirondack Trust Co. purchased a new position in Best Buy in the first quarter worth $30,000. Finally, Ellevest Inc. grew its holdings in Best Buy by 91.1% in the second quarter. Ellevest Inc. now owns 472 shares of the technology retailer's stock valued at $31,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 79.86% of the company's stock. Best Buy Company Profile (Get Rating)

Best Buy Co, Inc retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.Featured StoriesGet a free copy of the StockNews.com research report on Best Buy (BBY)Can Alibaba And Baidu Finally Rally With Delisting Fears Gone? 3 Materials Stocks That May Earn a Place on Your Watchlist Is World Wresting Entertainment Getting Ready to Be Sold? Crowdstrike Stock Retraces, As Earnings Sober ExpectationsWill The Institutions Buy The Dip In Ambarella Stock? 

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