Best Buy Co., Inc. (NYSE:BBY) Position Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 76.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,656 shares of the technology retailer’s stock after purchasing an additional 11,090 shares during the quarter. Pacer Advisors Inc.’s holdings in Best Buy were worth $2,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Best Buy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,164,953 shares of the technology retailer’s stock valued at $636,840,000 after buying an additional 241,988 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Best Buy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,852,980 shares of the technology retailer’s stock valued at $499,954,000 after acquiring an additional 120,185 shares during the last quarter. Raymond James & Associates raised its position in shares of Best Buy by 1.8% during the 3rd quarter. Raymond James & Associates now owns 3,440,215 shares of the technology retailer’s stock valued at $355,374,000 after acquiring an additional 62,452 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Best Buy by 3.3% during the third quarter. Eagle Asset Management Inc. now owns 1,388,151 shares of the technology retailer’s stock worth $143,396,000 after purchasing an additional 44,693 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Best Buy by 5.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,160,614 shares of the technology retailer’s stock worth $119,892,000 after purchasing an additional 61,119 shares during the period. Institutional investors own 80.96% of the company’s stock.

Best Buy Trading Down 1.3 %

Shares of Best Buy stock opened at $85.73 on Friday. The business has a fifty day simple moving average of $86.38 and a 200-day simple moving average of $90.13. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.14 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 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 quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share 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 business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.63 billion. During the same quarter last year, the business posted $1.29 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, December 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.39%. Best Buy’s dividend payout ratio (DPR) is presently 64.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BBY shares. Loop Capital restated a “buy” rating and issued a $100.00 price target on shares of Best Buy in a research report on Wednesday, December 18th. Barclays decreased their target price on Best Buy from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Thursday, January 9th. JPMorgan Chase & Co. increased their price target on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Citigroup reduced their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Finally, Morgan Stanley dropped their target price on 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average 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 transaction of $6,049,258.36. Following the completion of the sale, the chief financial officer now directly owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. This represents a 42.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.59% of the company’s stock.

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.