Best Buy
BBY

$87.35

0.06%

Market Cap: 18.8B

About: With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the US, boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data. The firm generates the bulk of its sales in-store, with mobile phones and tablets, computers, and appliances representing its three largest categories. Recent investments in e-commerce fulfillment, accelerated by the covid-19 pandemic, have seen the US e-commerce channel roughly double from prepandemic levels, with management estimating that it will represent a mid-30% proportion of sales moving forward.

Employees: 85,000

Consumer Discretionary Radio, TV & Consumer Electronics Stores

0

Funds holding %

of 6,702 funds

0

Analysts bullish %

of 23 analysts

0

News positive %

of 9 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

100% more funds holding in top 10

Funds holding in top 10: 3 [Q4 2023] → 6 (+3) [Q1 2024]

17% more repeat investments, than reductions

Existing positions increased: 304 | Existing positions reduced: 260

6% more capital invested

Capital invested by funds: $13.5B [Q4 2023] → $14.3B (+$775M) [Q1 2024]

1% more funds holding

Funds holding: 745 [Q4 2023] → 754 (+9) [Q1 2024]

10% more first-time investments, than exits

New positions opened: 103 | Existing positions closed: 94

1% more call options, than puts

Call options by funds: $395M | Put options by funds: $391M

0.71% more ownership

Funds ownership: 80.38% [Q4 2023] → 81.09% (+0.71%) [Q1 2024]

See Fund Rankings

Research analyst outlook

23 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$67

23%

downside

Avg. target

$89

2%

upside

High target

$106

21%

upside

23 analyst ratings

9 positive

39%

12 neutral

52%

2 negative

9%

Truist Securities Scot Ciccarelli	2%downside $86	Hold Maintained	1 Jul 2024
UBS Michael Lasser	21%upside $106	Buy Upgraded	17 Jun 2024
Loop Capital Anthony Chukumba	14%upside $100	Buy Maintained	7 Jun 2024
Citigroup Steven Zaccone	14%upside $100	Buy Upgraded	3 Jun 2024
DA Davidson Michael Baker	9%upside $95	Buy Maintained	31 May 2024

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Financial journalist opinion

Based on 9 articles about BBY published over the past 30 days

Double-Digit Triumphs: 3 Stocks Pegged to Ride the Fed's Cut

It is 100% certain that the Federal Reserve will reduce interest rates at its next meeting in September. Lowering borrowing costs has many investors wondering how interest rate cut stocks could perform.

Double-Digit Triumphs: 3 Stocks Pegged to Ride the Fed's Cut

Inside Best Buy's push to get back to sales growth, cash in on AI craze

Best Buy on Tuesday rolled out its strategy to get back to sales growth, including through dedicating staff to key parts of its stores, creating more videos to pique customers' curiosity and debuting a new marketing campaign. The consumer electronics retailer is trying to cash in on a much-awaited replacement cycle of pandemic-era purchases and a fresh wave of innovation.

Inside Best Buy's push to get back to sales growth, cash in on AI craze

3 Stocks That Could Benefit Big Time From Coming Interest Rate Cuts

Inflation is trending downward and approaching the Federal Reserve's 2% target and unemployment is heading higher. The Fed is widely expected to begin cutting interest rates at its September meeting.

3 Stocks That Could Benefit Big Time From Coming Interest Rate Cuts

Zacks Investment Research

Best Buy (BBY) Gains on Strategic Customer-Centric Initiatives

Best Buy's (BBY) strategic investments and focus on technology and customer experience drive long-term success and market resilience.

Best Buy (BBY) Gains on Strategic Customer-Centric Initiatives

Buy 9 Sustainable Dividend Dogs Of Barron's July Top 100

Barron's seventh annual (2024) ranking of sustainable companies started with the 1,000 largest publicly traded companies by market value, then ranked each by performance for five key constituencies: shareholders, employees, customers, community, and planet. Home-products company Clorox sits at the top for the second straight year, edging out Kimberly-Clark, CBRE Group, Hasbro, and Agilent Technologies in the top five. Per 7/11/24 data from YCharts, the top 10 of 77 dividend-paying sustainable companies ranged 4.37%-12.73% by annual yield and ranged 26.93%-111.85% by broker-estimated target price upsides.

Buy 9 Sustainable Dividend Dogs Of Barron's July Top 100

Best Buy Fast Tracks Canadian Expansion With First Express Store

The strategic partnership between Best Buy Canada and Bell Canada has seen the first opening of a projected 167 small-format consumer technology retail stores across Canada-branded Best Buy Express.

Best Buy Fast Tracks Canadian Expansion With First Express Store

Buy this retailer's stock as an AI play, analyst says

The artificial-intelligence boom can benefit more than just companies that make semiconductors and personal computers. D.A. Davidson's Michael Baker points to one retailer that stands to get a big AI boost in the coming months.

Buy this retailer's stock as an AI play, analyst says

Zacks Investment Research

Will Best Buy (BBY) Tech Endeavors Help Navigate Challenges?

Best Buy (BBY) is focusing on technology and customer experience for future growth. AI collaborations and strategic investments in store formats enhance customer service and operational efficiency.

Will Best Buy (BBY) Tech Endeavors Help Navigate Challenges?

The 3 Hottest Stock Upgrades From Last Week

The S&P 500 continues to enjoy a solid run as the improving macro environment, coupled with the AI optimism and recent stock upgrades, provides solid support for risk assets. Last week, Goldman Sachs (NYSE: GS ) increased its year-end forecast for the S&P 500 Index to 5,600, up from the previous target of 5,200.

The 3 Hottest Stock Upgrades From Last Week

The 7 Smartest Consumer Stocks to Buy With $500 Right Now

Consumers have rarely been under the kind of pressure they face today. Unemployment in May crept up to 4% while inflation stood at 3.3%, unchanged from the month before.

The 7 Smartest Consumer Stocks to Buy With $500 Right Now

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