Deutsche Bank AG Purchases 197,929 Shares of Best Buy Co., Inc. (NYSE:BBY)

Deutsche Bank AG raised its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 18.2% in the fourth quarter, HoldingsChannel reports. The firm owned 1,282,650 shares of the technology retailer’s stock after acquiring an additional 197,929 shares during the period. Deutsche Bank AG’s holdings in Best Buy were worth $110,051,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BBY. Principal Financial Group Inc. lifted its stake in Best Buy by 2.0% in the third quarter. Principal Financial Group Inc. now owns 247,510 shares of the technology retailer’s stock worth $25,568,000 after acquiring an additional 4,958 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Best Buy by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 115,771 shares of the technology retailer’s stock worth $9,933,000 after purchasing an additional 485 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Best Buy by 79.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 691 shares of the technology retailer’s stock valued at $59,000 after purchasing an additional 306 shares in the last quarter. Graypoint LLC increased its holdings in Best Buy by 8.7% during the fourth quarter. Graypoint LLC now owns 9,970 shares of the technology retailer’s stock valued at $855,000 after buying an additional 799 shares during the period. Finally, Czech National Bank raised its stake in Best Buy by 5.9% in the fourth quarter. Czech National Bank now owns 42,367 shares of the technology retailer’s stock worth $3,635,000 after buying an additional 2,379 shares in the last quarter. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BBY. UBS Group set a $105.00 price target on Best Buy in a report on Wednesday, March 5th. Jefferies Financial Group reduced their target price on shares of Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Loop Capital reissued a “negative” rating on shares of Best Buy in a research report on Wednesday, March 5th. Wedbush reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Best Buy in a research report on Monday, March 3rd. Finally, DA Davidson reissued a “buy” rating and set a $110.00 target price on shares of Best Buy in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $91.28.

Best Buy Trading Down 0.8 %

NYSE BBY opened at $68.85 on Friday. Best Buy Co., Inc. has a 1 year low of $54.99 and a 1 year high of $103.71. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The company has a market capitalization of $14.57 billion, a PE ratio of 11.77, a P/E/G ratio of 2.10 and a beta of 1.27. The company has a fifty day moving average of $68.31 and a 200 day moving average of $80.91.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping the consensus estimate of $2.40 by $0.18. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the company earned $2.72 earnings per share. Research analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, March 25th were paid a $0.95 dividend. This is a boost from Best Buy’s previous quarterly dividend of $0.94. This represents a $3.80 annualized dividend and a dividend yield of 5.52%. The ex-dividend date was Tuesday, March 25th. Best Buy’s payout ratio is currently 88.99%.

Insider Buying and Selling

In other news, CEO Corie S. Barry acquired 13,500 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $72.92 per share, for a total transaction of $984,420.00. Following the completion of the transaction, the chief executive officer now owns 378,780 shares in the company, valued at approximately $27,620,637.60. The trade was a 3.70 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew M. Bilunas sold 51,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $74.20, for a total value of $3,784,200.00. Following the sale, the chief financial officer now owns 55,856 shares in the company, valued at $4,144,515.20. This trade represents a 47.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,355 shares of company stock valued at $5,767,213. Corporate insiders own 0.47% of the company’s stock.

Best Buy Company 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.