B. Metzler seel. Sohn & Co. Holding AG Takes $2.92 Million Position in Best Buy Co., Inc. (NYSE:BBY)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Best Buy Co., Inc. (NYSE:BBY) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 28,302 shares of the technology retailer’s stock, valued at approximately $2,924,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. Acadian Asset Management LLC raised its position in shares of Best Buy by 7,829.2% during the first quarter. Acadian Asset Management LLC now owns 21,488 shares of the technology retailer’s stock worth $1,762,000 after acquiring an additional 21,217 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Best Buy during the 1st quarter valued at approximately $255,000. Quadrature Capital Ltd acquired a new position in shares of Best Buy in the 1st quarter worth approximately $849,000. Lazard Asset Management LLC boosted its stake in shares of Best Buy by 126.8% in the 1st quarter. Lazard Asset Management LLC now owns 119,723 shares of the technology retailer’s stock valued at $9,820,000 after purchasing an additional 66,943 shares during the last quarter. Finally, Hyperion Capital Advisors LP acquired a new stake in shares of Best Buy during the first quarter worth $283,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Stock Performance

Shares of BBY opened at $86.77 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $95.11 and a 200-day moving average price of $88.53. The company has a market cap of $18.63 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.43 and a beta of 1.47. Best Buy Co., Inc. has a 12-month low of $62.92 and a 12-month high of $103.71.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS. As a group, equities analysts forecast that Best Buy Co., Inc. will post 6.28 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.33%. Best Buy’s dividend payout ratio is 64.83%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays boosted their target price on shares of Best Buy from $81.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their target price on shares of Best Buy from $101.00 to $111.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Telsey Advisory Group lifted their price target on shares of Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group increased their price objective on shares of Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.35.

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.