Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH grew its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 254.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,349 shares of the technology retailer's stock after buying an additional 11,024 shares during the period. Siemens Fonds Invest GmbH's holdings in Best Buy were worth $1,317,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BBY. Rakuten Securities Inc. lifted its position in Best Buy by 971.9% in the fourth quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after acquiring an additional 311 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Best Buy in the 4th quarter valued at about $32,000. Atlas Capital Advisors Inc. boosted its position in shares of Best Buy by 186.9% in the 4th quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 243 shares during the period. Ancora Advisors LLC grew its stake in Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock worth $32,000 after buying an additional 374 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Best Buy during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup reissued a "neutral" rating and issued a $70.00 price objective (down from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Wedbush reiterated a "neutral" rating and set a $90.00 price target on shares of Best Buy in a research note on Monday, March 3rd. Truist Financial dropped their price objective on shares of Best Buy from $81.00 to $64.00 and set a "hold" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of Best Buy from $100.00 to $85.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price target on Best Buy from $89.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $91.28.

Insider Activity

In related news, insider Todd G. Hartman sold 4,893 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $355,476.45. Following the completion of the transaction, the insider now directly owns 32,320 shares of the company's stock, valued at $2,348,048. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew M. Bilunas sold 9,482 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $72.65, for a total value of $688,867.30. Following the sale, the chief financial officer now owns 106,856 shares in the company, valued at approximately $7,763,088.40. The trade was a 8.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,355 shares of company stock worth $5,767,213. Company insiders own 0.47% of the company's stock.

Best Buy Trading Up 1.3%

Shares of BBY stock opened at $73.79 on Friday. The business's fifty day moving average price is $67.90 and its 200 day moving average price is $80.35. The firm has a market capitalization of $15.62 billion, a PE ratio of 12.61, a P/E/G ratio of 2.10 and a beta of 1.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. Best Buy Co., Inc. has a 1-year low of $54.99 and a 1-year high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping the consensus estimate of $2.40 by $0.18. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. During the same period in the previous year, the firm earned $2.72 EPS. As a group, sell-side analysts forecast 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 was paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th were issued a $0.95 dividend. The ex-dividend date was Tuesday, March 25th. This is a boost from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.15%. Best Buy's dividend payout ratio (DPR) is 88.99%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.