Telsey Advisory Group Cuts Best Buy (NYSE:BBY) Price Target to $100.00

Best Buy (NYSE:BBY) had its price objective lowered by Telsey Advisory Group from $110.00 to $100.00 in a report published on Wednesday, MarketBeat reports. The firm currently has an outperform rating on the technology retailer’s stock. Telsey Advisory Group also issued estimates for Best Buy’s Q1 2026 earnings at $1.06 EPS, Q2 2026 earnings at $1.33 EPS, Q3 2026 earnings at $1.36 EPS, Q4 2026 earnings at $2.69 EPS, FY2026 earnings at $6.44 EPS and FY2027 earnings at $7.08 EPS.

BBY has been the subject of a number of other research reports. Truist Financial reduced their price target on Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Loop Capital reiterated a “buy” rating and issued a $100.00 price target on shares of Best Buy in a research report on Wednesday, December 18th. Guggenheim lowered their price objective on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, November 29th. UBS Group reiterated a “buy” rating and issued a $105.00 price target (down from $115.00) on shares of Best Buy in a research note on Friday, February 28th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Best Buy in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Best Buy Stock Up 1.3 %

Shares of BBY opened at $79.66 on Wednesday. The business’s fifty day moving average price is $85.58 and its two-hundred day moving average price is $90.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The firm has a market capitalization of $17.03 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.10 and a beta of 1.43. Best Buy has a 52 week low of $69.29 and a 52 week high of $103.71.

Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the business posted $2.72 EPS. On average, analysts predict that Best Buy will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th will be given a $0.95 dividend. This is a boost from Best Buy’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 annualized dividend and a yield of 4.77%. Best Buy’s dividend payout ratio (DPR) is presently 88.99%.

Insider Activity at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares of the company’s stock, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Best Buy

Several large investors have recently modified their holdings of BBY. Raymond James Financial Inc. purchased a new stake in shares of Best Buy during the 4th quarter worth approximately $514,483,000. Norges Bank bought a new stake in shares of Best Buy during the 4th quarter worth $178,015,000. Northern Trust Corp raised its stake in shares of Best Buy by 31.3% during the fourth quarter. Northern Trust Corp now owns 2,942,832 shares of the technology retailer’s stock valued at $252,495,000 after acquiring an additional 701,287 shares during the last quarter. Invesco Ltd. raised its stake in shares of Best Buy by 20.5% during the fourth quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer’s stock valued at $316,784,000 after acquiring an additional 629,180 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Best Buy by 101.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,114,928 shares of the technology retailer’s stock valued at $95,661,000 after buying an additional 561,413 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone 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 products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.