B. Metzler seel. Sohn & Co. AG Trims Stock Holdings in Best Buy Co., Inc. (NYSE:BBY)

B. Metzler seel. Sohn & Co. AG lowered its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 32.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,079 shares of the technology retailer’s stock after selling 9,223 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Best Buy were worth $1,637,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Summit Financial LLC bought a new stake in Best Buy during the fourth quarter worth about $346,000. Wellington Management Group LLP boosted its position in shares of Best Buy by 144.0% in the 4th quarter. Wellington Management Group LLP now owns 5,683 shares of the technology retailer’s stock worth $488,000 after purchasing an additional 3,354 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of Best Buy by 35.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 191,662 shares of the technology retailer’s stock worth $16,445,000 after buying an additional 50,353 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Best Buy by 5.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,395 shares of the technology retailer’s stock valued at $286,000 after buying an additional 167 shares in the last quarter. Finally, Summit Securities Group LLC raised its stake in Best Buy by 365.0% during the fourth quarter. Summit Securities Group LLC now owns 930 shares of the technology retailer’s stock valued at $80,000 after buying an additional 730 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In related news, insider Todd G. Hartman sold 4,893 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $72.65, for a total transaction of $355,476.45. Following the completion of the sale, the insider now owns 32,320 shares in the company, valued at approximately $2,348,048. This trade represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mathew Watson sold 2,951 shares of the business’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 $214,390.15. Following the completion of the transaction, the chief accounting officer now directly owns 21,371 shares in the company, valued at approximately $1,552,603.15. This represents a 12.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,355 shares of company stock valued at $5,767,213 over the last three months. Corporate insiders own 0.59% of the company’s stock.

Best Buy Trading Up 1.9 %

Shares of BBY stock opened at $75.77 on Thursday. 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 market cap of $16.02 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.10 and a beta of 1.43. Best Buy Co., Inc. has a 1 year low of $69.29 and a 1 year high of $103.71. The firm has a fifty day moving average price of $81.98 and a 200-day moving average price of $87.76.

Best Buy (NYSE:BBY) last issued 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. Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the business posted $2.72 earnings per share. As a group, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $3.80 annualized dividend and a yield of 5.02%. This is an increase from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s payout ratio is currently 88.99%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BBY. Loop Capital reissued a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. DA Davidson cut their price objective on shares of Best Buy from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Evercore ISI decreased their target price on shares of Best Buy from $95.00 to $80.00 and set an “in-line” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target 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, Piper Sandler decreased their price objective on shares of Best Buy from $102.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus target price of $93.50.

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.