Robeco Institutional Asset Management B.V. Grows Position in Best Buy Co., Inc. (NYSE:BBY)

Robeco Institutional Asset Management B.V. lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 33.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 603,735 shares of the technology retailer’s stock after purchasing an additional 152,126 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.28% of Best Buy worth $51,800,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BBY. Trust Co. of Vermont increased its position in shares of Best Buy by 1,200.0% in the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Best Buy in the 3rd quarter valued at $40,000. LRI Investments LLC raised its position in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after purchasing an additional 335 shares during the period. Brooklyn Investment Group acquired a new position in shares of Best Buy during the third quarter worth about $44,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Best Buy by 959.6% in the third quarter. Abich Financial Wealth Management LLC now owns 551 shares of the technology retailer’s stock worth $57,000 after buying an additional 499 shares during the period. Institutional investors and hedge funds own 80.96% of the company’s stock.

Best Buy Price Performance

Shares of NYSE:BBY opened at $85.08 on Thursday. The company has a market cap of $18.19 billion, a PE ratio of 14.54, a P/E/G ratio of 2.11 and a beta of 1.43. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The firm has a 50-day simple moving average of $86.41 and a 200 day simple moving average of $90.19. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY) last posted its earnings results on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The company had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same period last year, the company posted $1.29 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Tuesday, December 17th. Best Buy’s dividend payout ratio (DPR) is 64.27%.

Analysts Set New Price Targets

Several research firms recently commented on BBY. Guggenheim reduced their price target on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Morgan Stanley reduced their target price on shares of Best Buy from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. StockNews.com lowered shares of Best Buy from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Citigroup cut their price objective on shares of Best Buy from $109.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Loop Capital restated a “buy” rating and set a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Best Buy presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.72.

Insider Transactions at Best Buy

In other Best Buy news, CFO Matthew M. Bilunas sold 69,166 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the completion of the transaction, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.59% of the company’s stock.

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.