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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 39.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,290 shares of the technology retailer's stock after selling 18,688 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Best Buy were worth $2,156,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. 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 buying an additional 311 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in Best Buy in the fourth quarter valued at about $31,000. Atlas Capital Advisors Inc. lifted its position in Best Buy by 186.9% in the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after buying an additional 243 shares during the last quarter. Ancora Advisors LLC lifted its position in Best Buy by 18,700.0% in the fourth quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock valued at $32,000 after buying an additional 374 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Best Buy in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Activity at Best Buy

In related news, insider Todd G. Hartman sold 4,893 shares of Best Buy stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total value of $355,476.45. Following the transaction, the insider now directly owns 32,320 shares in the company, valued at $2,348,048. This trade represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kathleen Scarlett sold 6,847 shares of Best Buy stock in a transaction on Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $497,434.55. Following the completion of the transaction, the executive vice president now owns 87,389 shares in the company, valued at approximately $6,348,810.85. This trade represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 804,374 shares of company stock worth $58,735,581 in the last three months. Insiders own 0.47% of the company's stock.

Best Buy Stock Performance

Shares of BBY opened at $69.57 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The firm has a market cap of $14.70 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.10 and a beta of 1.25. The company's 50 day simple moving average is $67.81 and its 200-day simple moving average is $77.53. 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 earnings results on Thursday, May 29th. The technology retailer reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.06. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.77 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 .9% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be given a dividend of $0.95 per share. The ex-dividend date is Wednesday, June 18th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.46%. Best Buy's dividend payout ratio (DPR) is presently 92.91%.

Analysts Set New Price Targets

BBY has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Citigroup reissued a "neutral" rating and set a $70.00 price target (down previously from $93.00) on shares of Best Buy in a research report on Thursday, April 3rd. Evercore ISI reduced their price target on shares of Best Buy from $95.00 to $80.00 and set an "in-line" rating on the stock in a research report on Wednesday, March 5th. BNP Paribas raised shares of Best Buy to a "hold" rating in a research report on Friday, May 30th. Finally, DA Davidson reissued a "buy" rating and set a $110.00 price target on shares of Best Buy in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Best Buy has an average rating of "Hold" and a consensus target price of $86.11.

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.

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