Best Buy Co., Inc. $BBY Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,987,386 shares of the technology retailer’s stock after selling 11,500 shares during the quarter. Pacer Advisors Inc.’s holdings in Best Buy were worth $133,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BBY. Huntington National Bank increased its position in Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after acquiring an additional 139 shares during the period. Krane Funds Advisors LLC raised its stake in Best Buy by 3.0% during the 4th quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer’s stock valued at $346,000 after acquiring an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Best Buy by 0.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer’s stock worth $1,114,000 after acquiring an additional 152 shares during the period. Applied Finance Capital Management LLC boosted its position in Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer’s stock worth $286,000 after acquiring an additional 157 shares during the period. Finally, International Private Wealth Advisors LLC grew its stake in shares of Best Buy by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer’s stock worth $224,000 after purchasing an additional 165 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

NYSE:BBY opened at $74.89 on Friday. The business’s 50-day moving average price is $65.39 and its 200 day moving average price is $66.56. The firm has a market cap of $15.78 billion, a P/E ratio of 13.87, a PEG ratio of 1.95 and a beta of 1.30. Best Buy Co., Inc. has a 52-week low of $55.10 and a 52-week high of $84.99. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The firm had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the previous year, the business earned $1.15 earnings per share. Best Buy’s revenue for the quarter was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, sell-side analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Thursday, June 18th. Best Buy’s payout ratio is presently 71.11%.

Analyst Ratings Changes

A number of brokerages have recently commented on BBY. Telsey Advisory Group set a $90.00 price target on Best Buy and gave the company an “outperform” rating in a report on Friday, May 29th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Best Buy in a report on Friday, May 29th. Wells Fargo & Company increased their target price on shares of Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. DA Davidson reissued a “buy” rating and set a $78.00 target price on shares of Best Buy in a research note on Friday, May 29th. Finally, BNP Paribas Exane boosted their price target on shares of Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.05.

Insiders Place Their Bets

In other Best Buy news, CAO Mathew Watson sold 1,784 shares of Best Buy stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $73.80, for a total value of $131,659.20. Following the transaction, the chief accounting officer owned 21,630 shares in the company, valued at approximately $1,596,294. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew M. Bilunas sold 11,356 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the transaction, the chief financial officer directly owned 76,884 shares in the company, valued at $4,922,113.68. This represents a 12.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 660,780 shares of company stock worth $49,530,325. Company insiders own 0.50% of the company’s stock.

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.