Best Buy Co., Inc. (NYSE:BBY) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in Best Buy Co., Inc. (NYSE:BBY) by 29.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,978 shares of the technology retailer’s stock after selling 20,401 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Best Buy were worth $4,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BBY. QRG Capital Management Inc. lifted its stake in Best Buy by 10.5% during the 3rd quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock valued at $3,279,000 after acquiring an additional 3,025 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock worth $9,332,000 after purchasing an additional 19,405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Best Buy by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock valued at $15,806,000 after purchasing an additional 18,171 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Best Buy in the third quarter valued at $2,384,000. Finally, Charles Schwab Investment Management Inc. grew its position in Best Buy by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock worth $636,840,000 after purchasing an additional 241,988 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now directly owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.59% of the stock is owned by company insiders.

Best Buy Stock Up 2.0 %

BBY stock opened at $85.58 on Friday. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.12 and a beta of 1.43. The firm has a 50-day moving average of $86.77 and a two-hundred day moving average of $90.17. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.04). The company had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $9.63 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Analyst Upgrades and Downgrades

BBY has been the subject of several analyst reports. UBS Group decreased their price objective on Best Buy from $123.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company decreased their price target on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a report on Wednesday, November 27th. Morgan Stanley decreased their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, StockNews.com downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and a consensus target price of $101.72.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.