MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Stock Position in Best Buy Co., Inc. (NYSE:BBY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its stake in Best Buy Co., Inc. (NYSE:BBY) by 29.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,978 shares of the technology retailer’s stock after selling 20,401 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Best Buy were worth $4,119,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. purchased a new stake in Best Buy in the third quarter valued at approximately $40,000. LRI Investments LLC raised its holdings in shares of Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after buying an additional 335 shares during the period. Trust Co. of Vermont lifted its stake in Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares in the last quarter. Brooklyn Investment Group acquired a new position in Best Buy during the 3rd quarter worth about $44,000. Finally, Abich Financial Wealth Management LLC grew its position in Best Buy by 959.6% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock valued at $57,000 after acquiring an additional 499 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.59% of the stock is owned by company insiders.

Best Buy Stock Performance

NYSE BBY opened at $85.58 on Friday. The company has a fifty day moving average of $86.77 and a two-hundred day moving average of $90.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The company has a market capitalization of $18.30 billion, a PE ratio of 14.63, a P/E/G ratio of 2.12 and a beta of 1.43.

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

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were given a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.39%. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Guggenheim reduced their target price on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Truist Financial dropped their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Barclays reduced their price objective on Best Buy from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 9th. Finally, Morgan Stanley lowered their target price on Best Buy from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.72.

Best Buy Profile

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.