BBY

Citigroup Upgrades Best Buy (BBY)

Fintel reports that on June 3, 2024, Citigroup upgraded their outlook for Best Buy (NYSE:BBY) from Sell to Buy.

Analyst Price Forecast Suggests 2.55% Upside

As of June 1, 2024, the average one-year price target for Best Buy is 86.98. The forecasts range from a low of 67.67 to a high of $105.00. The average price target represents an increase of 2.55% from its latest reported closing price of 84.82.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Best Buy is 47,527MM, an increase of 9.38%. The projected annual non-GAAP EPS is 8.04.

What is the Fund Sentiment?

There are 1,666 funds or institutions reporting positions in Best Buy. This is an increase of 15 owner(s) or 0.91% in the last quarter. Average portfolio weight of all funds dedicated to BBY is 0.20%, an increase of 0.06%. Total shares owned by institutions increased in the last three months by 0.49% to 199,902K shares. BBY / Best Buy Co., Inc. Put/Call Ratios The put/call ratio of BBY is 0.90, indicating a bullish outlook.

What are Other Shareholders Doing?

BBY / Best Buy Co., Inc. Shares Held by Institutions

Jpmorgan Chase holds 11,540K shares representing 5.33% ownership of the company. In its prior filing, the firm reported owning 12,943K shares , representing a decrease of 12.16%. The firm decreased its portfolio allocation in BBY by 90.84% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,089K shares representing 2.81% ownership of the company. In its prior filing, the firm reported owning 6,139K shares , representing a decrease of 0.81%. The firm decreased its portfolio allocation in BBY by 5.23% over the last quarter.

Charles Schwab Investment Management holds 5,875K shares representing 2.72% ownership of the company. In its prior filing, the firm reported owning 4,482K shares , representing an increase of 23.71%. The firm increased its portfolio allocation in BBY by 24.89% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 4,830K shares representing 2.23% ownership of the company. In its prior filing, the firm reported owning 4,731K shares , representing an increase of 2.03%. The firm decreased its portfolio allocation in BBY by 5.69% over the last quarter.

Invesco holds 4,655K shares representing 2.15% ownership of the company. In its prior filing, the firm reported owning 3,239K shares , representing an increase of 30.41%. The firm increased its portfolio allocation in BBY by 35.93% over the last quarter.

Best Buy Background Information
(This description is provided by the company.)

Best Buy is a leading provider of technology products, services and solutions. The company offers expert service at an unbeatable price more than 1.5 billion times a year to the consumers, small business owners and educators who visit our stores, engage with Geek Squad agents or use BestBuy.com or the Best Buy app. The company has operations in the U.S and Canada, where more than 70 percent of the population lives within 15 minutes of a Best Buy store, as well as in Mexico where Best Buy has a physical and online presence.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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