Deutsche Bank AG Purchases 197,929 Shares of Best Buy Co., Inc. (NYSE:BBY)

Deutsche Bank AG lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 18.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,282,650 shares of the technology retailer's stock after acquiring an additional 197,929 shares during the quarter. Deutsche Bank AG owned approximately 0.60% of Best Buy worth $110,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stevens Capital Management LP grew its stake in shares of Best Buy by 228.7% during the 4th quarter. Stevens Capital Management LP now owns 22,625 shares of the technology retailer's stock worth $1,941,000 after acquiring an additional 15,741 shares during the period. Invesco Ltd. grew its stake in shares of Best Buy by 20.5% during the 4th quarter. Invesco Ltd. now owns 3,692,118 shares of the technology retailer's stock worth $316,784,000 after acquiring an additional 629,180 shares during the period. Vanguard Group Inc. boosted its stake in Best Buy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 22,982,608 shares of the technology retailer's stock worth $1,971,908,000 after purchasing an additional 191,161 shares during the period. Pinnacle Financial Partners Inc bought a new position in Best Buy in the 4th quarter worth about $3,293,000. Finally, APG Asset Management N.V. bought a new position in Best Buy in the 4th quarter worth about $9,073,000. Institutional investors own 80.96% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Wedbush restated a "neutral" rating and issued a $90.00 target price on shares of Best Buy in a research note on Monday, March 3rd. Morgan Stanley cut their target price on 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. Jefferies Financial Group cut their target price on Best Buy from $106.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Bank of America cut their target price on Best Buy from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. Finally, Truist Financial cut their target price on Best Buy from $81.00 to $64.00 and set a "hold" rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $91.28.

Insider Transactions at Best Buy

In other news, CAO Mathew Watson sold 2,951 shares of Best Buy 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 $214,390.15. Following the sale, the chief accounting officer now directly owns 21,371 shares in the company, valued at approximately $1,552,603.15. This trade represents a 12.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew M. Bilunas sold 51,000 shares of Best Buy stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $74.20, for a total value of $3,784,200.00. Following the completion of the sale, the chief financial officer now owns 55,856 shares in the company, valued at approximately $4,144,515.20. This represents a 47.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,355 shares of company stock worth $5,767,213. 0.47% of the stock is currently owned by insiders.

Best Buy Trading Up 1.1%

Best Buy stock traded up $0.79 during trading hours on Friday, reaching $73.63. The company had a trading volume of 682,492 shares, compared to its average volume of 3,595,331. 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 company has a 50-day moving average price of $67.92 and a 200 day moving average price of $80.46. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 2.10 and a beta of 1.27. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.18. The business had revenue of $13.95 billion for the quarter, compared to analysts' expectations of $13.69 billion. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. During the same period in the previous year, the firm earned $2.72 EPS. Equities analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were given a $0.95 dividend. This is a positive change from Best Buy's previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Tuesday, March 25th. Best Buy's dividend payout ratio (DPR) is currently 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.