MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stock Position in Best Buy Co., Inc. (NYSE:BBY)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,978 shares of the technology retailer's stock after selling 20,401 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Best Buy were worth $4,119,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BBY. Charles Schwab Investment Management Inc. increased its stake in shares of Best Buy by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer's stock valued at $636,840,000 after purchasing an additional 241,988 shares in the last quarter. Geode Capital Management LLC grew its holdings in Best Buy by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer's stock valued at $499,954,000 after purchasing an additional 120,185 shares during the period. Raymond James & Associates increased its position in shares of Best Buy by 1.8% in the third quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer's stock valued at $355,374,000 after buying an additional 62,452 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Best Buy by 3.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer's stock worth $143,396,000 after buying an additional 44,693 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Best Buy by 55.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,379,195 shares of the technology retailer's stock valued at $116,252,000 after buying an additional 491,781 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BBY shares. Morgan Stanley cut their price target on shares of Best Buy from $105.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday. Citigroup reduced their price target on shares of Best Buy from $109.00 to $101.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Guggenheim decreased 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. JPMorgan Chase & Co. boosted their price objective on Best Buy from $111.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Finally, UBS Group decreased their target price on Best Buy from $123.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.72.

Insider Buying and Selling

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $87.46, for a total value of $6,049,258.36. Following the transaction, the chief financial officer now owns 92,070 shares of the company's stock, valued at $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.59% of the stock is currently owned by insiders.

Best Buy Trading Down 1.0 %

Shares of NYSE:BBY traded down $0.83 during midday trading on Friday, reaching $84.80. 2,082,452 shares of the company's stock were exchanged, compared to its average volume of 2,340,344. The firm's 50 day simple moving average is $86.65 and its two-hundred day simple moving average is $90.14. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week 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 stock has a market cap of $18.13 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.11 and a beta of 1.43.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.63 billion. During the same quarter last year, the company earned $1.29 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were given a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 annualized dividend and a yield of 4.43%. Best Buy's dividend payout ratio is presently 64.27%.

About Best Buy

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.