Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of Best Buy Co Inc (NYSE:BBY) by 44.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,559 shares of the technology retailer’s stock after purchasing an additional 11,791 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Best Buy were worth $3,377,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in BBY. Gradient Investments LLC bought a new stake in Best Buy during the 4th quarter worth about $29,000. Whittier Trust Co. grew its position in shares of Best Buy by 138.4% during the 3rd quarter. Whittier Trust Co. now owns 553 shares of the technology retailer’s stock worth $38,000 after buying an additional 321 shares during the period. Rational Advisors LLC grew its position in shares of Best Buy by 168.3% during the 3rd quarter. Rational Advisors LLC now owns 550 shares of the technology retailer’s stock worth $38,000 after buying an additional 345 shares during the period. Stonebridge Capital Advisors LLC acquired a new position in shares of Best Buy during the 2nd quarter worth about $43,000. Finally, Quest Capital Management Inc. ADV acquired a new position in shares of Best Buy during the 3rd quarter worth about $45,000. 77.68% of the stock is owned by hedge funds and other institutional investors.
In other Best Buy news, major shareholder Richard M. Schulze sold 589,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $79.25, for a total transaction of $46,717,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd G. Hartman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.91, for a total value of $161,820.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,105,051 shares of company stock valued at $169,112,718. Insiders own 0.95% of the company’s stock.
Shares of BBY traded up $0.99 on Friday, hitting $89.94. The company’s stock had a trading volume of 3,366,241 shares, compared to its average volume of 2,283,700. The company has a quick ratio of 0.27, a current ratio of 1.05 and a debt-to-equity ratio of 1.10. The firm’s fifty day moving average price is $85.92 and its 200-day moving average price is $74.43. Best Buy Co Inc has a fifty-two week low of $56.03 and a fifty-two week high of $91.83. The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 1.75 and a beta of 1.16.
Best Buy (NYSE:BBY) last issued its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.10. Best Buy had a return on equity of 49.43% and a net margin of 3.54%. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.71 billion. During the same period in the previous year, the firm earned $0.93 EPS. Best Buy’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Best Buy Co Inc will post 5.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.22%. Best Buy’s dividend payout ratio is presently 37.59%.
Several research firms have recently issued reports on BBY. Jefferies Financial Group boosted their target price on Best Buy from $91.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Morgan Stanley boosted their target price on Best Buy from $70.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Wedbush restated a “hold” rating and set a $76.00 target price on shares of Best Buy in a research report on Tuesday, November 26th. Guggenheim restated a “buy” rating and set a $100.00 target price (up from $90.00) on shares of Best Buy in a research report on Thursday, January 9th. Finally, Piper Jaffray Companies upgraded Best Buy to a “buy” rating and boosted their target price for the stock from $86.00 to $97.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $84.63.
About Best Buy
Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide Computing and Mobile Phones, such as computing and peripherals, e-readers, networking products, tablets, and wearables, as well as mobile phones comprising related mobile network carrier commissions; consumer electronics, including digital imaging, health and fitness, home theater, portable audio, and smart home products; and entertainment products consisting of drones, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products.
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