Best Buy (BBY)

• Market cap: $17.8B
• 1 day: 0.50%
• 5 days: -0.56%
• 1 month: -6.04%
• 3 months: -14.72%
• 6 months: -2.68%
• Year to date: -3.44%
• 1 year: 15.79%
• 5 years: -6.42%
• 10 years: 142.59%
• Sector: Consumer Discretionary
• Industry: Radio, TV & Consumer Electronics Stores

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

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

100% more funds holding in top 10

Funds holding in top 10: 1 [Q2] → 2 (+1) [Q3]

63% more first-time investments, than exits

New positions opened: 145 | Existing positions closed: 89

28% more call options, than puts

Call options by funds: $883M | Put options by funds: $689M

19% more capital invested

Capital invested by funds: $15.8B [Q2] → $18.9B (+$3.02B) [Q3]

5% more funds holding

Funds holding: 817 [Q2] → 859 (+42) [Q3]

9% more repeat investments, than reductions

Existing positions increased: 325 | Existing positions reduced: 298

1.85% less ownership

Funds ownership: 87.16% [Q2] → 85.31% (-1.85%) [Q3]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $89 7% upside
• Avg. target: $102 23% upside
• High target: $117 41% upside

9 analyst ratings

• positive: 6 67%
• neutral: 3 33%
• negative: 0 0%

Barclays Seth Sigman 66% 1-year accuracy 31 / 47 met price target	7% upside $89	Equal-Weight Maintained	9 Jan 2025
Loop Capital Anthony Chukumba 38% 1-year accuracy 8 / 21 met price target	20% upside $100	Buy Reiterated	18 Dec 2024
Guggenheim Steven Forbes 42% 1-year accuracy 8 / 19 met price target	26% upside $105	Buy Maintained	29 Nov 2024
Wells Fargo Zachary Fadem 60% 1-year accuracy 21 / 35 met price target	7% upside $89	Equal-Weight Maintained	27 Nov 2024
UBS Michael Lasser 54% 1-year accuracy 19 / 35 met price target	38% upside $115	Buy Maintained	27 Nov 2024