Pacer Advisors Inc. Acquires 11,090 Shares of Best Buy Co., Inc. (NYSE:BBY)

Pacer Advisors Inc. increased its stake in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 76.1% in the 4th quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BBY. Stablepoint Partners LLC grew its stake in Best Buy by 35.5% in the 4th quarter. Stablepoint Partners LLC now owns 6,454 shares of the technology retailer's stock valued at $554,000 after buying an additional 1,691 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Best Buy by 45.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,497 shares of the technology retailer's stock worth $300,000 after purchasing an additional 1,097 shares during the period. CX Institutional lifted its position in shares of Best Buy by 1.0% during the 4th quarter. CX Institutional now owns 20,524 shares of the technology retailer's stock worth $1,761,000 after purchasing an additional 213 shares during the last quarter. Impact Partnership Wealth LLC boosted its stake in Best Buy by 20.0% during the 4th quarter. Impact Partnership Wealth LLC now owns 11,938 shares of the technology retailer's stock valued at $1,024,000 after purchasing an additional 1,991 shares during the period. Finally, Donoghue Forlines LLC grew its holdings in Best Buy by 46.7% in the 4th quarter. Donoghue Forlines LLC now owns 18,099 shares of the technology retailer's stock valued at $1,553,000 after buying an additional 5,758 shares during the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Trading Up 1.5 %

BBY stock traded up $1.30 during trading on Tuesday, hitting $85.08. The company had a trading volume of 2,453,535 shares, compared to its average volume of 2,449,061. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.16 and a beta of 1.43. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $86.12 and a 200-day moving average price of $90.13. Best Buy Co., Inc. has a 12 month low of $69.29 and a 12 month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The technology retailer reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). Best Buy had a return on equity of 45.93% and a net margin of 3.01%. The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. Best Buy's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Tuesday, December 17th. Best Buy's dividend payout ratio is presently 64.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Guggenheim reduced their price objective on Best Buy from $110.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Telsey Advisory Group lowered their price target on Best Buy from $115.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 26th. DA Davidson reissued a "buy" rating and set a $117.00 price objective on shares of Best Buy in a report on Tuesday, October 15th. StockNews.com lowered Best Buy from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Finally, UBS Group decreased their price target on shares of Best Buy from $123.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. One research 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $101.72.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total value of $6,049,258.36. Following the sale, the chief financial officer now directly owns 92,070 shares in the company, valued at $8,052,442.20. This trade represents a 42.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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.