Robeco Institutional Asset Management B.V. Grows Position in Best Buy Co., Inc. (NYSE:BBY)

Robeco Institutional Asset Management B.V. increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 33.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 603,735 shares of the technology retailer's stock after buying an additional 152,126 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.28% of Best Buy worth $51,800,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Park Avenue Securities LLC grew its stake in Best Buy by 1.3% during the 3rd 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 during the last quarter. Greenleaf Trust boosted its position 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 during the last quarter. SeaCrest Wealth Management LLC increased its holdings in Best Buy by 4.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,675 shares of the technology retailer's stock worth $276,000 after buying an additional 118 shares during the period. Hoxton Planning & Management LLC raised its position in Best Buy by 3.7% during the 3rd quarter. Hoxton Planning & Management LLC now owns 3,481 shares of the technology retailer's stock worth $360,000 after buying an additional 124 shares during the last quarter. Finally, Access Investment Management LLC lifted its stake in Best Buy by 12.2% during the 3rd quarter. Access Investment Management LLC now owns 1,380 shares of the technology retailer's stock valued at $143,000 after acquiring an additional 150 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy Price Performance

Shares of Best Buy stock traded up $1.59 during mid-day trading on Thursday, reaching $86.68. 331,344 shares of the stock traded hands, compared to its average volume of 2,243,650. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $86.38 and a 200 day moving average of $90.16. The stock has a market capitalization of $18.53 billion, a PE ratio of 14.84, a PEG ratio of 2.11 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). The firm had revenue of $9.45 billion during 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 company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. On average, analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a $0.94 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a yield of 4.34%. Best Buy's payout ratio is 64.27%.

Analysts Set New Price Targets

BBY has been the topic of a number of research reports. Citigroup cut their price objective 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. Wells Fargo & Company reduced their price objective on Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 27th. Loop Capital restated a "buy" rating and issued a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. DA Davidson reiterated a "buy" rating and set a $117.00 price target on shares of Best Buy in a research report on Tuesday, October 15th. Finally, StockNews.com lowered Best Buy from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.72.

Insiders Place Their Bets

In other news, CFO Matthew M. Bilunas sold 69,166 shares of the business's stock in a transaction dated 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. The trade was a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.59% of the company's stock.

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.