why Best Buy Co. Inc. [BBY] is a Good Choice for Investors After New Price Target of $94.71


Best Buy Co. Inc. [NYSE: BBY] plunged by -$2.19 during the normal trading session on Thursday and reaching a high of $77.409 during the day while it closed the day at $74.93. The company report on May 25, 2022 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 $0.88 per common share. The quarterly dividend is payable on July 5, 2022, to shareholders of record as of the close of business on June 14, 2022. The company had 224,621,941 shares of common stock issued and outstanding as of April 30, 2022.

Best Buy Co. Inc. stock has also loss -7.79% of its value over the past 7 days. However, BBY stock has declined by -24.05% in the 3 months of the year. Over the past six months meanwhile, it has lost -29.93% and lost -26.25% year-on date.

The market cap for BBY stock reached $17.04 billion, with 226.80 million shares outstanding and 200.70 million shares in the current float. Compared to the average trading volume of 3.21M shares, BBY reached a trading volume of 3131461 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $94.71 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 2.60. 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.

Barclays have made an estimate for Best Buy Co. Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on May 25, 2022. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $125 to $130. The new note on the price target was released on March 04, 2022, representing the official price target for Best Buy Co. Inc. stock. On February 28, 2022, analysts decreased their price target for BBY shares from 150 to 125.

The Average True Range (ATR) for Best Buy Co. Inc. is set at 3.97, with the Price to Sales ratio for BBY stock in the period of the last 12 months amounting to 0.34. The Price to Book ratio for the last quarter was 6.14, with the Price to Cash per share for the same quarter was set at 2.81. Price to Free Cash Flow for BBY in the course of the last twelve months was 65.53 with Quick ratio for the last quarter at 0.20.

BBY stock trade performance evaluation

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 -7.79. With this latest performance, BBY shares dropped by -15.56% in over the last four-week period, additionally sinking by -29.93% over the last 6 months – not to mention a drop of -33.42% 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 35.68, with the RSI for the last a single of trading hit 32.54, and the three-weeks RSI is set at 37.48 for Best Buy Co. Inc. [BBY]. The present Moving Average for the last 50 days of trading for this stock 87.43, while it was recorded at 78.01 for the last single week of trading, and 102.58 for the last 200 days.

Best Buy Co. Inc. [BBY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Best Buy Co. Inc. [BBY] shares currently have an operating margin of +5.79 and a Gross Margin at +22.32. Best Buy Co. Inc.’s Net Margin is presently recorded at +4.74.

Return on Equity for this stock inclined to 64.52, with Return on Assets sitting at 13.42.

Best Buy Co. Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for Best Buy Co. Inc. [BBY] stock

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 8.45%.

Best Buy Co. Inc. [BBY]: Insider Ownership positions

There are presently around $13,767 million, or 83.40% of BBY stock, in the hands of institutional investors. The top three institutional holders of BBY stocks are: VANGUARD GROUP INC with ownership of 26,389,083, which is approximately -4.753% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 21,397,168 shares of the stock with an approximate value of $1.65 billion in BBY stocks shares; and JPMORGAN CHASE & CO, currently with $970.41 million in BBY stock with ownership of nearly 8.214% of the company’s market capitalization.

Positions in Best Buy Co. Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 409 institutional holders increased their position in Best Buy Co. Inc. [NYSE:BBY] by around 9,812,754 shares. Additionally, 418 investors decreased positions by around 13,727,938 shares, while 101 investors held positions by with 154,969,661 shares. The mentioned changes placed institutional holdings at 178,510,353 shares, according to the latest SEC report filing. BBY stock had 91 new institutional investments in for a total of 2,430,715 shares, while 125 institutional investors sold positions of 2,261,216 shares during the same period.