why Best Buy Co. Inc. [BBY] is a Good Choice for Investors After New Price Target of $123.85

Best Buy Co. Inc. [NYSE: BBY] loss -0.91% or -0.97 points to close at $105.57 with a heavy trading volume of 3650935 shares. The company report on November 25, 2020 that Best Buy Announces Regular Quarterly Cash Dividend.

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The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.55 per common share. The quarterly dividend is payable on January 5, 2021, to shareholders of record as of the close of business on December 15, 2020. The company had 258,931,526 shares of common stock issued and outstanding as of October 31, 2020.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201125005372/en/.

It opened the trading session at $106.56, the shares rose to $106.62 and dropped to $104.85, the range by which the price of stock traded the whole day. The daily chart for BBY points out that the company has recorded 26.16% gains over the past six months. However, it is still -119.48% lower than its most recent low trading price.

If we look at the average trading volume of 2.59M shares, BBY reached to a volume of 3650935 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Best Buy Co. Inc. [BBY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BBY shares is $123.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BBY stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Best Buy Co. Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on October 23, 2020. The new note on the price target was released on October 05, 2020, representing the official price target for Best Buy Co. Inc. stock. On August 26, 2020, analysts increased their price target for BBY shares from 120 to 135.

The Average True Range (ATR) for Best Buy Co. Inc. is set at 3.47, with the Price to Sales ratio for BBY stock in the period of the last 12 months amounting to 0.61. The Price to Book ratio for the last quarter was 6.71, with the Price to Cash per share for the same quarter was set at 21.74. Price to Free Cash Flow for BBY in the course of the last twelve months was 6.43 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for BBY stock

Best Buy Co. Inc. [BBY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.27. With this latest performance, BBY shares dropped by -11.92% in over the last four-week period, additionally plugging by 26.16% over the last 6 months – not to mention a rise of 31.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BBY stock in for the last two-week period is set at 34.38, with the RSI for the last a single of trading hit 27.41, and the three-weeks RSI is set at 39.27 for Best Buy Co. Inc. [BBY]. The present Moving Average for the last 50 days of trading for this stock 115.01, while it was recorded at 107.45 for the last single week of trading, and 92.18 for the last 200 days.

Best Buy Co. Inc. [BBY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Best Buy Co. Inc. [BBY] shares currently have an operating margin of +4.67 and a Gross Margin at +22.86. Best Buy Co. Inc.’s Net Margin is presently recorded at +3.53.

Return on Total Capital for BBY is now 33.28, given the latest momentum, and Return on Invested Capital for the company is 26.77. Return on Equity for this stock inclined to 45.42, with Return on Assets sitting at 10.71. When it comes to the capital structure of this company, Best Buy Co. Inc. [BBY] has a Total Debt to Total Equity ratio set at 116.96. Additionally, BBY Total Debt to Total Capital is recorded at 53.91, with Total Debt to Total Assets ending up at 26.10. Long-Term Debt to Equity for the company is recorded at 97.59, with the Long-Term Debt to Total Capital now at 44.98.

Reflecting on the efficiency of the workforce at the company, Best Buy Co. Inc. [BBY] managed to generate an average of $12,328 per employee. Receivables Turnover for the company is 40.33 with a Total Asset Turnover recorded at a value of 3.03.Best Buy Co. Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.10.

Best Buy Co. Inc. [BBY]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Best Buy Co. Inc. posted 2.9/share EPS, while the average EPS was predicted by analysts to be reported at 2.75/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BBY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Best Buy Co. Inc. go to 10.73%.

An analysis of insider ownership at Best Buy Co. Inc. [BBY]

There are presently around $21,449 million, or 80.90% of BBY stock, in the hands of institutional investors. The top three institutional holders of BBY stocks are: VANGUARD GROUP INC with ownership of 28,886,184, which is approximately -1.569% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 18,781,826 shares of the stock with an approximate value of $1.98 billion in BBY stocks shares; and JPMORGAN CHASE & CO, currently with $1.31 billion in BBY stock with ownership of nearly 10.94% of the company’s market capitalization.

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Positions in Best Buy Co. Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 386 institutional holders increased their position in Best Buy Co. Inc. [NYSE:BBY] by around 15,261,328 shares. Additionally, 316 investors decreased positions by around 18,343,845 shares, while 82 investors held positions by with 169,572,406 shares. The mentioned changes placed institutional holdings at 203,177,579 shares, according to the latest SEC report filing. BBY stock had 120 new institutional investments in for a total of 3,698,402 shares, while 45 institutional investors sold positions of 2,530,674 shares during the same period.

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