During the recent session, Best Buy Co. Inc. (NYSE:BBY)’s traded shares were 1.62 million, with the beta value of the company hitting 1.53. At the last check today, the stock’s price was $71.36, reflecting an intraday gain of 3.19% or $2.21. The 52-week high for the BBY share is $93.32, that puts it down -30.77 from that peak though still a striking 14.83% gain since the share price plummeted to a 52-week low of $60.78. The company’s market capitalization is $15.66B, and the average intraday trading volume over the past 10 days was 2.64 million shares, and the average trade volume was 2.40 million shares over the past three months.
Best Buy Co. Inc. (BBY) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. BBY has a Sell rating from 2 analyst(s) out of 29 analysts who have looked at this stock. 21 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 4 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.11.
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Best Buy Co. Inc. (NYSE:BBY) trade information
Best Buy Co. Inc. (BBY) registered a 3.19% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 3.19% in intraday trading to $71.36 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -2.31%, and it has moved by -0.22% in 30 days. Based on these gigs, the overall price performance for the year is -2.88%. The short interest in Best Buy Co. Inc. (NYSE:BBY) is 11.64 million shares and it means that shorts have 5.92 day(s) to cover.
The consensus price target of analysts on Wall Street is $81.05, which implies an increase of 11.96% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $62.00 and $110.00 respectively. As a result, BBY is trading at a discount of -54.15% off the target high and 13.12% off the low.
Best Buy Co. Inc. (BBY) estimates and forecasts
Statistics show that Best Buy Co. Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Best Buy Co. Inc. (BBY) shares have gone down -10.67% during the last six months, with a year-to-date growth rate less than the industry average at -12.57% against 18.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -29.30% this quarter and then drop -21.40% in the quarter after that. In the rating firms’ projections, revenue will decrease -3.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $9.52 billion as predicted by 20 analyst(s). Meanwhile, a consensus of 20 analyst(s) estimates revenue growth to $9.7 billion by the end of Jul 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $10.65 billion and $10.33 billion respectively. In this case, analysts expect current quarter sales to shrink by -10.50% and then drop by -6.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 8.50%. While earnings are projected to return -36.10% in 2023, the next five years will return -7.54% per annum.
Best Buy Co. Inc. is due to release its next quarterly earnings on May 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Best Buy Co. Inc. is 3.68, with the dividend yield indicating at 5.32 percent, continuing the trend of increasing dividends in recent years.
Best Buy Co. Inc. (NYSE:BBY)’s Major holders
Best Buy Co. Inc. insiders own 10.98% of total outstanding shares while institutional holders control 82.15%, with the float percentage being 92.29%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 1,150 institutions own stock in it. As of Mar 30, 2023, the company held over 24.32 million shares (or 11.12% of all shares), a total value of $1.69 billion in shares.
The next largest institutional holding, with 19.61 million shares, is of Blackrock Inc.’s that is approximately 8.97% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $1.37 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Best Buy Co. Inc. (BBY) shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 6.16 million shares. This amounts to just over 2.82 percent of the company’s overall shares, with a $429.02 million market value. The same data shows that the other fund manager holds slightly less at 4.72 million, or about 2.17% of the stock, which is worth about $328.85 million.