Best Buy (BBY)

• Market cap: $14.5B
• 1 day: -0.34%
• 5 days: 6.87%
• 1 month: -6.86%
• 3 months: -22.24%
• 6 months: -26.28%
• Year to date: -21.69%
• 1 year: -10.03%
• 5 years: -13.03%
• 10 years: 88.91%
• Sector: Consumer Discretionary
• Industry: Specialty Retail

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 Q4 regulatory disclosures by fund managers ($100M+ AUM)

15% more repeat investments, than reductions

Existing positions increased: 325 | Existing positions reduced: 282

1.35% more ownership

Funds ownership: 82.13% [Q3] → 83.48% (+1.35%) [Q4]

4% less funds holding

Funds holding: 862 [Q3] → 830 (-32) [Q4]

11% less first-time investments, than exits

New positions opened: 125 | Existing positions closed: 140

15% less call options, than puts

Call options by funds: $476M | Put options by funds: $559M

16% less capital invested

Capital invested by funds: $18.2B [Q3] → $15.3B (-$2.85B) [Q4]

100% less funds holding in top 10

Funds holding in top 10: 2 [Q3] → 0 (-2) [Q4]

Research analyst outlook

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

• Low target: $64 5% downside
• Avg. target: $89 31% upside
• High target: $110 63% upside

15 analyst ratings

• positive: 8 53%
• neutral: 6 40%
• negative: 1 7%

DA Davidson Michael Baker 36% 1-year accuracy 17 / 47 met price target	63% upside $110	Buy Maintained	14 Apr 2025
Truist Securities Scot Ciccarelli 47% 1-year accuracy 27 / 58 met price target	5% downside $64	Hold Maintained	8 Apr 2025
Citigroup Steven Zaccone 39% 1-year accuracy 7 / 18 met price target	4% upside $70	Neutral Downgraded	3 Apr 2025
Wells Fargo Zachary Fadem 42% 1-year accuracy 15 / 36 met price target	26% upside $85	Equal-Weight Maintained	5 Mar 2025
UBS Michael Lasser 53% 1-year accuracy 21 / 40 met price target	56% upside $105	Buy Maintained	5 Mar 2025