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Monday, June 5, 2023

Best Buy Co. Inc. (NYSE: BBY): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Best Buy Co. Inc. (BBY) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $73.65. The Best Buy Co. Inc. has recorded 287,926 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Best Buy Launches Nationwide Recycle-by-Mail Technology Boxes.

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Stocks Info

BBY belongs to the Consumer Cyclical sector of the NYSE while operating in the Specialty Retail industry. At the end of the last regular session, the stock closed at $73.65 and fluctuated between $74.98 as its day high and $73.44 as its day low. The current market capitalization of Best Buy Co. Inc. is $15.85B. A total of 1.74 million shares were traded on the day, compared to an average of 2.35M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, BBY has seen 8 BUY and 8 SELL insider trades, representing the acquisition of 148,794 and the disposition of 69,523 shares. Over the last 12 months, there were 50 BUYs and 34 SELLs from insiders. Insiders purchased 1,014,269 shares during that period but sold 736,480.

In the most recent transaction, Harmon Damien sold 5,500 shares of BBY for 73.21 per share on Apr 14. After the transaction, the EVP, Omnichannel now owns 41,489 company shares. In a previous transaction on Mar 21, Barry Corie S sold 25,511 shares at 77.95 per share. BBY shares that CEO owns now total 364,041.

Among the insiders who sold shares, Bonfig Jason J disposed of 10,963 shares on Mar 21 at a per-share price of $77.95. This resulted in the Chief Merchandising Officer holding 46,250 shares of BBY after the transaction. In another insider transaction, Bilunas Matthew M sold 7,181 shares at $77.95 per share on Mar 21. Company shares held by the Chief Financial Officer now total 72,243.


Paying dividends generates immediate cash flow for investors and indicates a positive outlook for the company. Best Buy Co. Inc. pays an annual dividend of $3.68, resulting in a dividend yield of 5.00%, and it has a price to earnings (P/E) ratio of 11.69. BBY’s most recent ex-dividend date was 3/22/2023 when it declared a $0.92 quarterly dividend that was paid in cash on 4/13/2023. Previously, the company paid the dividend on 1/3/2023 with an ex-dividend date of 12/12/2022. The BBY stock dividend was $0.88 per share in cash.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for BBY in the last 3 months, the mean price target is $82.50 with high estimates of $110.00 and low estimates of $62.00. In terms of 52-week highs and lows, BBY has a high of $98.18 and a low of $60.78.

As of this writing, BBY has an earnings estimate of $1.15 per share for the current quarter. EPS was calculated based on a consensus of 22 estimates, with a high estimate of $1.41 per share and a lower estimate of $0.89. The company reported an EPS of $1.38 in the last quarter, which was 34.00% higher than expectations of $1.03.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. BBY’s latest balance sheet shows that the firm has $2.94B in Cash & Short Term Investments as of fiscal 2022. There were $3.94B in debt and $10.67B in liabilities at the time. Its Book Value Per Share was $12.62, while its Total Shareholder’s Equity was $3.02B.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 28 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for BBY is Sell with a score of 3.15. A total of 4 analysts rated the stock as Buy while 1 rated it as Overweight while 20 rated it as Hold. Among the other participants, 1 thought the stock was Underweight and 2 thought it should be Sold.

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