DekaBank Deutsche Girozentrale Has $7.04 Million Position in Best Buy (NYSE:BBY)

DekaBank Deutsche Girozentrale grew its stake in shares of Best Buy (NYSE:BBY) by 2.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 100,024 shares of the technology retailer’s stock after acquiring an additional 2,175 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Best Buy were worth $7,042,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Sit Investment Associates Inc. increased its holdings in Best Buy by 783,437.5% in the 4th quarter. Sit Investment Associates Inc. now owns 188,049 shares of the technology retailer’s stock worth $12,876,000 after purchasing an additional 188,025 shares in the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Best Buy in the fourth quarter valued at about $231,000. Bremer Trust National Association acquired a new stake in shares of Best Buy in the fourth quarter valued at about $285,000. Convergence Investment Partners LLC acquired a new stake in shares of Best Buy in the fourth quarter valued at about $4,219,000. Finally, Community Bank & Trust Waco Texas increased its stake in shares of Best Buy by 5.5% in the fourth quarter. Community Bank & Trust Waco Texas now owns 15,205 shares of the technology retailer’s stock valued at $1,041,000 after buying an additional 789 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Shares of BBY stock opened at $78.78 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 0.59. Best Buy has a 12-month low of $78.49 and a 12-month high of $79.86. The stock has a market cap of $22.13 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.09 and a beta of 0.91.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, March 1st. The technology retailer reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.37. The firm had revenue of $15.36 billion for the quarter, compared to the consensus estimate of $14.52 billion. Best Buy had a return on equity of 32.68% and a net margin of 2.37%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 earnings per share. equities research analysts anticipate that Best Buy will post 4.97 earnings per share for the current fiscal year.

In other Best Buy news, Director Gerard R. Vittecoq sold 23,684 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $74.12, for a total transaction of $1,755,458.08. Following the transaction, the director now owns 40,128 shares in the company, valued at approximately $2,974,287.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia H. Walker sold 8,854 shares of the company’s stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $73.63, for a total value of $651,920.02. Following the transaction, the insider now owns 26,698 shares in the company, valued at approximately $1,965,773.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 365,639 shares of company stock worth $25,651,834. 0.75% of the stock is owned by company insiders.

Several equities research analysts recently commented on BBY shares. Zacks Investment Research upgraded Best Buy from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Monday. Telsey Advisory Group reiterated a “market perform” rating and issued a $76.00 price target (up previously from $74.00) on shares of Best Buy in a report on Friday, March 2nd. Wells Fargo started coverage on Best Buy in a report on Monday, April 23rd. They issued a “market perform” rating and a $77.00 price target on the stock. Jefferies Group reiterated a “buy” rating and issued a $74.00 price target (up previously from $60.00) on shares of Best Buy in a report on Tuesday, February 27th. Finally, Wedbush restated an “underperform” rating and issued a $48.00 target price (up previously from $45.00) on shares of Best Buy in a report on Monday, March 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $71.39.

About Best Buy

Best Buy Co, Inc operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company operates in two segments, Domestic and International. Its stores provide consumer electronics, including digital imaging, health and fitness, home automation, home theater, and portable audio products; computing and mobile phones, such as computing and peripherals, networking products, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, including drones, movies, music, and technology toys, as well as gaming hardware and software, and virtual reality and other software products.

Institutional Ownership by Quarter for Best Buy (NYSE:BBY)

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