Best Buy Co., Inc. (NYSE:BBY) Shares Bought by Achmea Investment Management B.V.

Achmea Investment Management B.V. lifted its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 160,292 shares of the technology retailer’s stock after purchasing an additional 954 shares during the period. Achmea Investment Management B.V. owned about 0.07% of Best Buy worth $13,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. grew its stake in Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer’s stock worth $29,000 after buying an additional 311 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Best Buy during the fourth quarter worth approximately $32,000. OFI Invest Asset Management acquired a new position in shares of Best Buy in the 4th quarter valued at $34,000. Trust Co. of Vermont raised its position in Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock valued at $36,000 after purchasing an additional 384 shares during the last quarter. Finally, LRI Investments LLC boosted its stake in Best Buy by 632.1% during the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock worth $40,000 after purchasing an additional 335 shares during the period. 80.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BBY has been the topic of a number of recent research reports. UBS Group set a $105.00 price objective on shares of Best Buy in a research note on Wednesday, March 5th. Bank of America dropped their price target on Best Buy from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on Best Buy from $106.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Evercore ISI dropped their target price on Best Buy from $95.00 to $80.00 and set an “in-line” rating on the stock in a report on Wednesday, March 5th. Finally, Loop Capital restated a “negative” rating on shares of Best Buy in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.50.

Best Buy Trading Down 3.3 %

Shares of BBY opened at $70.23 on Friday. The firm’s 50-day moving average is $84.64 and its two-hundred day moving average is $90.05. Best Buy Co., Inc. has a twelve month low of $69.29 and a twelve month high of $103.71. 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 capitalization of $15.02 billion, a P/E ratio of 12.01, a PEG ratio of 2.10 and a beta of 1.43.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share 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 quarter in the prior year, the firm posted $2.72 EPS. On average, research analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th will be given a $0.95 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.41%. This is a boost from Best Buy’s previous quarterly dividend of $0.94. Best Buy’s dividend payout ratio (DPR) is currently 88.99%.

Insider Transactions at Best Buy

In other Best Buy news, CEO Corie S. Barry acquired 13,500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $72.92 per share, with a total value of $984,420.00. Following the purchase, the chief executive officer now directly owns 378,780 shares in the company, valued at approximately $27,620,637.60. This trade represents a 3.70 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.59% of the company’s stock.

Best Buy Company 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.