B. Metzler seel. Sohn & Co. Holding AG Makes New $2.92 Million Investment in Best Buy Co., Inc. (NYSE:BBY)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Best Buy Co., Inc. (NYSE:BBY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 28,302 shares of the technology retailer’s stock, valued at approximately $2,924,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BBY. Fifth Third Wealth Advisors LLC bought a new position in shares of Best Buy during the third quarter valued at about $450,000. Pathstone Holdings LLC lifted its position in shares of Best Buy by 2.7% in the 3rd quarter. Pathstone Holdings LLC now owns 33,975 shares of the technology retailer’s stock worth $3,511,000 after purchasing an additional 899 shares during the period. Holistic Financial Partners bought a new stake in shares of Best Buy during the 3rd quarter valued at about $222,000. Islay Capital Management LLC purchased a new position in shares of Best Buy during the third quarter valued at about $1,278,000. Finally, Swiss National Bank lifted its holdings in Best Buy by 6.0% in the third quarter. Swiss National Bank now owns 608,300 shares of the technology retailer’s stock worth $62,837,000 after buying an additional 34,300 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 0.3 %

Shares of BBY stock opened at $86.77 on Thursday. The stock has a market capitalization of $18.63 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.43 and a beta of 1.47. Best Buy Co., Inc. has a 12-month low of $62.92 and a 12-month high of $103.71. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $95.11 and its 200 day moving average is $88.53.

Best Buy (NYSE:BBY) last posted its quarterly earnings data on Thursday, August 29th. The technology retailer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a return on equity of 47.19% and a net margin of 2.96%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.23 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. Best Buy’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts expect that Best Buy Co., Inc. will post 6.28 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th were given a $0.94 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.33%. Best Buy’s payout ratio is presently 64.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BBY shares. The Goldman Sachs Group increased their target price on Best Buy from $95.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Evercore ISI lifted their price target on shares of Best Buy from $90.00 to $94.00 and gave the company an “in-line” rating in a research report on Friday, August 30th. DA Davidson restated a “buy” rating and issued a $117.00 price objective on shares of Best Buy in a report on Tuesday, October 15th. Bank of America raised their target price on shares of Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a research note on Friday, August 30th. Finally, Telsey Advisory Group raised their price objective on Best Buy from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.35.

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.