Best BuyBBY
Market Cap: $21.2B
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 Q2 SEC filings by fund managers ($100M+ AUM)
50% more first-time investments, than exits
New positions opened: 135 | Existing positions closed: 90
32% more call options, than puts
Call options by funds: $749M | Put options by funds: $566M
18% more repeat investments, than reductions
Existing positions increased: 317 | Existing positions reduced: 268
6% more funds holding
Funds holding: 766 [Q1] → 811 (+45) [Q2]
2% more capital invested
Capital invested by funds: $14.6B [Q1] → $14.9B (+$354M) [Q2]
0.4% less ownership
Funds ownership: 82.51% [Q1] → 82.12% (-0.4%) [Q2]
83% less funds holding in top 10
Funds holding in top 10: 6 [Q1] → 1 (-5) [Q2]
Research analyst outlook
16 Wall Street Analysts provided 1 year price targets over the past 3 months
16 analyst ratings
Goldman Sachs Kate McShane 66% 1-year accuracy 31 / 47 met price target | 18%upside $116 | Buy Maintained | 3 Sept 2024 |
Wells Fargo Zachary Fadem 77% 1-year accuracy 17 / 22 met price target | 4%downside $95 | Equal-Weight Maintained | 30 Aug 2024 |
Telsey Advisory Group Joseph Feldman 57% 1-year accuracy 96 / 168 met price target | 17%upside $115 | Outperform Maintained | 30 Aug 2024 |
Citigroup Steven Zaccone 69% 1-year accuracy 9 / 13 met price target | 17%upside $115 | Buy Maintained | 30 Aug 2024 |
JP Morgan Christopher Horvers 60% 1-year accuracy 18 / 30 met price target | 13%upside $111 | Overweight Maintained | 30 Aug 2024 |
Financial journalist opinion
Based on 39 articles about BBY published over the past 30 days