Mn Services Vermogensbeheer B.V. Reduces Stake in Best Buy Co., Inc. (NYSE:BBY)

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,925 shares of the technology retailer’s stock after selling 3,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Best Buy were worth $7,039,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BBY. BlackRock Inc. grew its holdings in shares of Best Buy by 1.2% during the 1st quarter. BlackRock Inc. now owns 19,612,957 shares of the technology retailer’s stock worth $1,535,106,000 after acquiring an additional 223,536 shares during the period. State Street Corp increased its stake in shares of Best Buy by 1.2% in the 1st quarter. State Street Corp now owns 10,152,129 shares of the technology retailer’s stock worth $803,778,000 after acquiring an additional 123,256 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Best Buy by 32.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,885,308 shares of the technology retailer’s stock valued at $773,724,000 after acquiring an additional 2,409,006 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Best Buy by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,478,759 shares of the technology retailer’s stock worth $311,139,000 after purchasing an additional 66,770 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Best Buy by 0.7% in the first quarter. Geode Capital Management LLC now owns 4,218,968 shares of the technology retailer’s stock worth $329,735,000 after purchasing an additional 27,257 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on BBY shares. JPMorgan Chase & Co. upgraded Best Buy from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $89.00 to $101.00 in a research note on Friday, March 22nd. Jefferies Financial Group reduced their target price on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a report on Monday, April 8th. TheStreet upgraded shares of Best Buy from a “c” rating to a “b-” rating in a research report on Thursday, February 29th. The Goldman Sachs Group raised their target price on Best Buy from $81.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, UBS Group upped their price target on Best Buy from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Best Buy presently has a consensus rating of “Hold” and an average price target of $84.60.

Insider Buying and Selling at Best Buy

In other news, insider Todd G. Hartman sold 3,973 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $81.80, for a total transaction of $324,991.40. Following the transaction, the insider now owns 25,912 shares in the company, valued at $2,119,601.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Mathew Watson sold 3,520 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $82.43, for a total value of $290,153.60. Following the transaction, the chief accounting officer now directly owns 22,118 shares of the company’s stock, valued at $1,823,186.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd G. Hartman sold 3,973 shares of Best Buy stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $81.80, for a total value of $324,991.40. Following the sale, the insider now directly owns 25,912 shares of the company’s stock, valued at approximately $2,119,601.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,394 shares of company stock worth $4,206,247. 0.56% of the stock is owned by insiders.

Best Buy Stock Down 2.2 %

NYSE BBY opened at $76.29 on Tuesday. Best Buy Co., Inc. has a 52 week low of $62.30 and a 52 week high of $86.11. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 2.04 and a beta of 1.49. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average of $77.91 and a two-hundred day moving average of $73.77.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, February 29th. The technology retailer reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.21. Best Buy had a net margin of 2.86% and a return on equity of 48.45%. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same quarter last year, the firm earned $2.61 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that Best Buy Co., Inc. will post 6.03 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 21st were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 4.93%. This is an increase from Best Buy’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, March 20th. Best Buy’s payout ratio is 66.08%.

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.