Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

Best Buy Co., Inc. (NYSE:BBY - Get Rating)'s share price fell 3.9% on Wednesday after DA Davidson lowered their price target on the stock from $110.00 to $99.00. DA Davidson currently has a buy rating on the stock. Best Buy traded as low as $71.21 and last traded at $72.00. 138,341 shares were traded during mid-day trading, a decline of 94% from the average session volume of 2,286,807 shares. The stock had previously closed at $74.89.

A number of other research firms have also recently weighed in on BBY. TheStreet cut Best Buy from a "b-" rating to a "c+" rating in a research report on Tuesday, July 5th. Jefferies Financial Group downgraded shares of Best Buy from a "buy" rating to a "hold" rating and cut their price target for the stock from $106.00 to $71.00 in a report on Thursday, July 28th. Wells Fargo & Company cut their price target on shares of Best Buy from $82.00 to $70.00 and set an "equal weight" rating on the stock in a report on Thursday, July 28th. Guggenheim cut their price target on shares of Best Buy from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, August 1st. Finally, StockNews.com downgraded shares of Best Buy from a "buy" rating to a "hold" rating in a report on Friday, May 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $86.13.Insiders Place Their Bets

In other Best Buy news, CEO Corie S. Barry sold 4,388 shares of the firm's stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $307,160.00. Following the completion of the sale, 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 can be accessed through this hyperlink. In related news, CEO Corie S. Barry sold 4,388 shares of the firm'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 completion of the sale, 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 can be accessed through the SEC website. Also, CFO Matthew M. Bilunas sold 890 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $79.09, for a total transaction of $70,390.10. Following the sale, the chief financial officer now owns 59,513 shares in the company, valued at $4,706,883.17. The disclosure for this sale can be found here. Insiders sold 5,334 shares of company stock valued at $381,538 in the last three months. 0.44% of the stock is currently owned by insiders. Institutional Investors Weigh In On Best Buy

A number of hedge funds have recently added to or reduced their stakes in BBY. Price T Rowe Associates Inc. MD lifted its holdings in Best Buy by 1,434.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,845,844 shares of the technology retailer's stock worth $315,901,000 after buying an additional 4,530,018 shares in the last quarter. Norges Bank acquired a new stake in shares of Best Buy in the 4th quarter valued at $251,898,000. Renaissance Technologies LLC acquired a new stake in shares of Best Buy in the 2nd quarter valued at $116,725,000. Capital World Investors acquired a new stake in shares of Best Buy in the 1st quarter valued at $99,081,000. Finally, Deutsche Bank AG raised its holdings in shares of Best Buy by 46.5% in the 2nd quarter. Deutsche Bank AG now owns 1,621,004 shares of the technology retailer's stock valued at $105,674,000 after purchasing an additional 514,856 shares in the last quarter. 79.86% of the stock is currently owned by institutional investors and hedge funds. Best Buy Price Performance

The stock's fifty day moving average price is $74.75 and its two-hundred day moving average price is $84.67. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 0.68 and a beta of 1.50. The company has a current ratio of 0.96, a quick ratio of 0.24 and a debt-to-equity ratio of 0.42.

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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Tuesday, September 20th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, September 19th. Best Buy's dividend payout ratio (DPR) is 39.07%. 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.Read MoreGet a free copy of the StockNews.com research report on Best Buy (BBY)Will The Institutions Buy The Dip In Ambarella Stock? PVH Corporation Is On Track For Capital ReturnsCan Pinterest Rally On Support From Big Investor With Conviction?Chargepoint Rallies, Despite Weaker EarningsIs Cadence Close To A Cup-With-High-Handle Breakout?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Best Buy, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Best Buy wasn't on the list.

While Best Buy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

Tom remains optimistic about investors’ prospects going forward, even as the market reacts to the words of Fed Chair Jerome Powell about “pain ahead.”

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

Twitter Facebook StockTwits Financial Juice YouTube

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved. 326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257 MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.