B. Metzler seel. Sohn & Co. AG Sells 9,223 Shares of Best Buy Co., Inc. (NYSE:BBY)

B. Metzler seel. Sohn & Co. AG cut its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 32.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,079 shares of the technology retailer’s stock after selling 9,223 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Best Buy were worth $1,637,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its position in shares of Best Buy by 4.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 7,420 shares of the technology retailer’s stock valued at $766,000 after acquiring an additional 300 shares during the last quarter. Captrust Financial Advisors lifted its position in Best Buy by 7.1% during the third quarter. Captrust Financial Advisors now owns 25,735 shares of the technology retailer’s stock valued at $2,658,000 after purchasing an additional 1,698 shares during the last quarter. Ascent Group LLC grew its stake in shares of Best Buy by 2.3% in the 3rd quarter. Ascent Group LLC now owns 8,840 shares of the technology retailer’s stock worth $913,000 after buying an additional 197 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Best Buy in the 3rd quarter worth about $292,000. Finally, Hilltop Holdings Inc. raised its position in shares of Best Buy by 25.8% during the 3rd quarter. Hilltop Holdings Inc. now owns 10,683 shares of the technology retailer’s stock valued at $1,103,000 after buying an additional 2,190 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Best Buy Trading Up 1.9 %

NYSE:BBY opened at $75.77 on Thursday. 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 firm has a 50-day simple moving average of $81.98 and a 200-day simple moving average of $87.76. Best Buy Co., Inc. has a one year low of $69.29 and a one year high of $103.71. The firm has a market cap of $16.02 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.10 and a beta of 1.43.

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

Best Buy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 5.02%. The ex-dividend date is Tuesday, March 25th. This is a positive change from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s payout ratio is 88.99%.

Analysts Set New Price Targets

Several brokerages have weighed in on BBY. Wedbush reissued a “neutral” rating and set a $90.00 price objective on shares of Best Buy in a research note on Monday, March 3rd. Morgan Stanley decreased their price target on Best Buy from $100.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 5th. Loop Capital reaffirmed a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. Truist Financial reduced their target price on shares of Best Buy from $95.00 to $81.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price target on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $93.50.

Insider Buying and Selling at Best Buy

In related news, insider Todd G. Hartman sold 4,893 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the transaction, the insider now owns 32,320 shares in the company, valued at $2,348,048. The trade was a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Corie S. Barry bought 13,500 shares of the stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $72.92 per share, with a total value of $984,420.00. Following the completion of the purchase, the chief executive officer now owns 378,780 shares of the company’s stock, valued at $27,620,637.60. This represents a 3.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 78,355 shares of company stock valued at $5,767,213. 0.59% of the stock is currently owned by insiders.

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.