Allianz Asset Management GmbH Buys 236,524 Shares of Best Buy Co., Inc. (NYSE:BBY)

Allianz Asset Management GmbH grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 17.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,606,242 shares of the technology retailer’s stock after acquiring an additional 236,524 shares during the period. Allianz Asset Management GmbH’s holdings in Best Buy were worth $137,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Best Buy during the 4th quarter valued at approximately $32,000. Trust Co. of Vermont lifted its stake in shares of Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after buying an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Best Buy during the 3rd quarter valued at approximately $40,000. LRI Investments LLC lifted its stake in shares of Best Buy by 632.1% during 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 in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Best Buy during the 3rd quarter valued at approximately $44,000. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Performance

Best Buy stock opened at $90.98 on Friday. The firm’s fifty day moving average price is $86.00 and its 200-day moving average price is $90.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.22 and a current ratio of 1.00. The stock has a market cap of $19.45 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 2.13 and a beta of 1.43. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate 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 net margin of 3.01% and a return on equity of 45.93%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. On average, equities research analysts expect that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio is currently 64.27%.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.59% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Loop Capital restated a “buy” rating and set a $100.00 price target on shares of Best Buy in a research note on Wednesday, December 18th. Guggenheim dropped their price target on shares of Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Citigroup dropped 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 note on Wednesday, November 27th. StockNews.com cut shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Telsey Advisory Group lowered their target price on shares of Best Buy from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.