Best Buy Co. Inc. (BBY) – Don’t Believe the Hype: Check The Facts

1,123 institutions hold shares in Best Buy Co. Inc. (BBY), with 29.53M shares held by insiders accounting for 11.40% while institutional investors hold 91.20% of the company’s shares. The shares outstanding are 259.80M, and float is at 229.43M with Short Float at 2.62%. Institutions hold 80.80% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 28.76 million shares valued at $2.87 billion. The investor’s holdings represent 11.11% of the BBY Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 19.31 million shares valued at $1.93 billion to account for 7.46% of the shares outstanding. The other top investors are FMR, LLC which holds 14.23 million shares representing 5.49% and valued at over $1.42 billion, while JP Morgan Chase & Company holds 4.70% of the shares totaling 12.17 million with a market value of $1.21 billion.

Best Buy Co. Inc. (NYSE: BBY) is 15.74% higher on its value in year-to-date trading and has touched a low of $48.10 and a high of $124.89 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BBY stock was last observed hovering at around $116.73 in the last trading session, with the day’s loss setting it -1.23% off its average median price target of $130.00 for the next 12 months. It is also 23.0% off the consensus price target high of $150.00 offered by 27 analysts, but current levels are -56.08% lower than the price target low of $74.00 for the same period.

Currently trading at $115.50, the stock is 0.25% and 5.31% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.19 million and changing -1.05% at the moment leaves the stock 12.02% off its SMA200. BBY registered 35.09% gain for a year compared to 6-month gain of 1.32%. The firm has a 50-day simple moving average (SMA 50) of $113.52 and a 200-day simple moving average (SMA200) of $111.37.

The stock witnessed a 0.50% loss in the last 1 month and extending the period to 3 months gives it a -2.80%, and is -4.35% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.18% over the week and 2.62% over the month.

Best Buy Co. Inc. (BBY) has around 125000 employees, a market worth around $29.59B and $45.52B in sales. Current P/E ratio is 17.63 and Fwd P/E is 15.15. Profit margin for the company is 3.80%. Distance from 52-week low is 140.10% and -7.52% from its 52-week high. The company has generated returns on investments over the last 12 months (32.80%).

Best Buy Co. Inc. (BBY) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Best Buy Co. Inc. (BBY) is a “Overweight”. 27 analysts offering their recommendations for the stock have an average rating of 2.40, where 12 rate it as a Hold and 0 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Best Buy Co. Inc. is expected to release its quarterly report on 05/27/2021 and quarterly earnings per share for the current quarter are estimated at $3.42 with sales reaching $17.15B over the same period.The EPS is expected to grow by 8.80% this year, but quarterly earnings will post 8.80% year-over-year. Quarterly sales are estimated to grow 12.80% in year-over-year returns.

Best Buy Co. Inc. (BBY) Insider Activity

A total of 32 insider transactions have happened at Best Buy Co. Inc. (BBY) in the last six months, with sales accounting for 26 and purchases happening 6 times. The most recent transaction is an insider sale by Bilunas Matthew M, the company’s Chief Financial Officer. SEC filings show that Bilunas Matthew M sold 4,120 shares of the company’s common stock on Nov 25 at a price of $115.85 per share for a total of $0.48 million. Following the sale, the insider now owns 21288.0 shares.

Best Buy Co. Inc. disclosed in a document filed with the SEC on Oct 09 that SCHULZE RICHARD M (10% Owner) sold a total of 436,199 shares of the company’s common stock. The trade occurred on Oct 09 and was made at $116.30 per share for $50.73 million. Following the transaction, the insider now directly holds 0.47 million shares of the BBY stock.

Still, SEC filings show that on Oct 08, SCHULZE RICHARD M (10% Owner) disposed off 62,975 shares at an average price of $115.09 for $7.25 million. The insider now directly holds 612,348 shares of Best Buy Co. Inc. (BBY).

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Best Buy Co. Inc. (BBY): Who are the competitors?

The company’s main competitors (and peers) include VOXX International Corporation (VOXX) that is 565.61% higher over the past 12 months. Apple Inc. (AAPL) is 68.84% up on the 1-year trading charts. Short interest in the company’s stock has fallen -4.82% from the last report on Dec 30, 2020 to stand at a total of 6.31 million short shares sold with a short interest ratio of 2.18.

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