Siemens Fonds Invest GmbH Increases Stake in Best Buy Co., Inc. (NYSE:BBY)

Siemens Fonds Invest GmbH raised its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 254.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,349 shares of the technology retailer's stock after purchasing an additional 11,024 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Best Buy were worth $1,317,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BBY. Rakuten Securities Inc. increased its position in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock valued at $29,000 after purchasing an additional 311 shares during the period. Vermillion Wealth Management Inc. bought a new stake in shares of Best Buy during the 4th quarter valued at $31,000. Golden State Wealth Management LLC bought a new stake in shares of Best Buy during the 4th quarter valued at $32,000. Atlas Capital Advisors Inc. boosted its holdings in shares of Best Buy by 186.9% during the 4th 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 in the last quarter. Finally, Ancora Advisors LLC boosted its holdings in shares of Best Buy by 18,700.0% during the 4th quarter. Ancora Advisors LLC now owns 376 shares of the technology retailer's stock valued at $32,000 after buying an additional 374 shares in the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BBY shares. Citigroup restated a "neutral" rating and set a $70.00 target price (down previously from $93.00) on shares of Best Buy in a report on Thursday, April 3rd. Jefferies Financial Group dropped their target price on shares of Best Buy from $106.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. UBS Group dropped their target price on shares of Best Buy from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Best Buy from $115.00 to $110.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $86.11.

Insider Transactions at Best Buy

In related news, insider Todd G. Hartman sold 4,893 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 32,320 shares of the company's stock, valued at approximately $2,348,048. This represents a 13.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 3,182 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $71.29, for a total transaction of $226,844.78. Following the completion of the sale, the chief accounting officer now directly owns 19,218 shares of the company's stock, valued at $1,370,051.22. This represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,355 shares of company stock worth $5,767,213 in the last quarter. Company insiders own 0.47% of the company's stock.

Best Buy Stock Performance

BBY traded down $0.07 during midday trading on Friday, hitting $66.25. 6,438,698 shares of the company traded hands, compared to its average volume of 3,346,222. The company's 50-day moving average is $67.25 and its 200 day moving average is $78.85. Best Buy Co., Inc. has a 52 week low of $54.99 and a 52 week high of $103.71. 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 firm has a market capitalization of $14.02 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.06. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.77 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. On average, research analysts expect 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 will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 19th will be paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 5.74%. The ex-dividend date is Wednesday, June 18th. Best Buy's dividend payout ratio (DPR) is presently 88.99%.

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.