Best Buy (BBY)

• Market cap: $19.2B
• 1 day: -1.28%
• 5 days: -0.24%
• 1 month: 6.21%
• 3 months: 3.78%
• 6 months: 3.15%
• Year to date: 4.19%
• 1 year: 21.13%
• 5 years: -0.53%
• 10 years: 130.26%
• 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 Q4 regulatory filings by fund managers ($100M+ AUM)

17% more repeat investments, than reductions

Existing positions increased: 320 | Existing positions reduced: 274

2.33% less ownership

Funds ownership: 85.31% [Q3] → 82.98% (-2.33%) [Q4]

7% less funds holding

Funds holding: 861 [Q3] → 799 (-62) [Q4]

15% less call options, than puts

Call options by funds: $475M | Put options by funds: $558M

19% less first-time investments, than exits

New positions opened: 112 | Existing positions closed: 138

19% less capital invested

Capital invested by funds: $18.9B [Q3] → $15.2B (-$3.64B) [Q4]

100% less funds holding in top 10

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

Research analyst outlook

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

• Low target: $89 1% downside
• Avg. target: $102 14% upside
• High target: $117 30% upside

10 analyst ratings

• positive: 6 60%
• neutral: 4 40%
• negative: 0 0%

Morgan Stanley Simeon Gutman 58% 1-year accuracy 22 / 38 met price target	11% upside $100	Equal-Weight Maintained	21 Jan 2025
Barclays Seth Sigman 65% 1-year accuracy 30 / 46 met price target	1% downside $89	Equal-Weight Maintained	9 Jan 2025
Loop Capital Anthony Chukumba 48% 1-year accuracy 10 / 21 met price target	11% upside $100	Buy Reiterated	18 Dec 2024
Guggenheim Steven Forbes 53% 1-year accuracy 10 / 19 met price target	17% upside $105	Buy Maintained	29 Nov 2024
Wells Fargo Zachary Fadem 67% 1-year accuracy 22 / 33 met price target	1% downside $89	Equal-Weight Maintained	27 Nov 2024