B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Best Buy Co., Inc. (NYSE:BBY)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 28,302 shares of the technology retailer's stock, valued at approximately $2,924,000.

Several other hedge funds have also recently bought and sold shares of BBY. Park Avenue Securities LLC raised its position in Best Buy by 1.3% during the third quarter. Park Avenue Securities LLC now owns 8,281 shares of the technology retailer's stock valued at $855,000 after purchasing an additional 103 shares in the last quarter. Greenleaf Trust boosted its stake in Best Buy by 1.2% in the third quarter. Greenleaf Trust now owns 9,454 shares of the technology retailer's stock valued at $977,000 after buying an additional 108 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Best Buy by 4.6% in the third quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer's stock valued at $276,000 after acquiring an additional 118 shares during the last quarter. Tobam lifted its holdings in shares of Best Buy by 15.6% in the second quarter. Tobam now owns 895 shares of the technology retailer's stock worth $75,000 after acquiring an additional 121 shares during the last quarter. Finally, Hoxton Planning & Management LLC boosted its stake in shares of Best Buy by 3.7% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer's stock valued at $360,000 after purchasing an additional 124 shares in the last quarter. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Down 0.3 %

Shares of NYSE BBY opened at $86.77 on Thursday. The firm has a market cap of $18.63 billion, a PE ratio of 14.96, a P/E/G ratio of 2.28 and a beta of 1.47. The company's fifty day simple moving average is $95.11 and its 200 day simple moving average is $88.53. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12-month low of $62.92 and a 12-month high of $103.71.

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

Best Buy Dividend Announcement

The business also recently declared 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 was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.33%. Best Buy's dividend payout ratio (DPR) is currently 64.83%.

Analysts Set New Price Targets

A number of analysts have weighed in on BBY shares. Telsey Advisory Group raised their target price on shares of Best Buy from $95.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on Best Buy from $101.00 to $111.00 and gave the stock an "overweight" rating in a research report on Friday, August 30th. Citigroup dropped their target price on Best Buy from $115.00 to $109.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Barclays boosted their price target on Best Buy from $81.00 to $95.00 and gave the stock an "equal weight" rating in a report on Friday, August 30th. Finally, Wedbush raised their price objective on shares of Best Buy from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average 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.