15 Best High Yield Stocks To Buy

5. Best Buy Co., Inc. (NYSE:BBY)

Number of Hedge Fund Holders: 49

Dividend Yield as of January 18: 5.61%

On January 16, Truist analyst Scot Ciccarelli trimmed his price target on Best Buy Co., Inc. (NYSE:BBY) to $73 from $77, while keeping a Hold rating. The update came as part of a broader Truist note covering Hardlines and Broadlines retail names. Truist said it’s revising its sales and earnings expectations after reviewing fresh Truist Card spending data and the latest ICR holiday checks. The firm also believes a big jump in tax refunds could provide a helpful boost for retailers during the typically slower post-holiday stretch. For Best Buy specifically, Truist said sales trends have picked up in recent weeks, but the improvement still doesn’t fully offset what looks like a notably weak early December based on its card data.

Back in November, Best Buy struck a more optimistic tone, raising its full-year sales and profit outlook as holiday demand came in stronger than expected. The company pointed to shoppers hunting for steep discounts to upgrade laptops, smartphones, and other household electronics. Computing and tablets, which generate about one-third of Best Buy’s revenue, showed solid momentum as consumers adopted newer technology and replaced devices purchased during the pandemic. Gaming also contributed, helped by the launch of Nintendo’s Switch 2 earlier this year.

On the earnings call, CEO Corie Barry said customers are still spending, but they’re highly deal-focused and drawn to more predictable shopping moments. Best Buy has been expanding its digital footprint as well, including the rollout of a U.S. marketplace in August to expand its assortment and better compete with major e-commerce players. In the quarter, domestic online sales grew 3.5%, while international comparable sales climbed 6.3%.

The company now expects FY2026 comparable sales to increase by 0.5% to 1.2%, compared to its earlier forecast that ranged from a 1% decline to 1% growth.

Best Buy Co., Inc. (NYSE:BBY) is a major consumer electronics retailer focused on making technology easier and more personal for shoppers, operating through Domestic and International segments.