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

Pacer Advisors Inc. lessened its holdings in Best Buy Co., Inc. (NYSE:BBY) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,987,386 shares of the technology retailer’s stock after selling 11,500 shares during the period. Pacer Advisors Inc. owned about 0.95% of Best Buy worth $133,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Best Buy by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock valued at $1,623,409,000 after purchasing an additional 307,905 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Best Buy by 30.9% during the fourth quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock worth $613,001,000 after purchasing an additional 2,160,968 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Best Buy by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock worth $498,805,000 after buying an additional 160,713 shares during the period. Invesco Ltd. boosted its position in shares of Best Buy by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock worth $316,718,000 after buying an additional 271,988 shares during the period. Finally, Morgan Stanley grew its stake in shares of Best Buy by 19.1% in the fourth quarter. Morgan Stanley now owns 3,778,294 shares of the technology retailer’s stock valued at $252,881,000 after buying an additional 605,911 shares in the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Analysts Set New Price Targets

BBY has been the topic of several analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 4th. BNP Paribas Exane upped their price target on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Daiwa Securities Group increased their price objective on shares of Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. Wells Fargo & Company lifted their price objective on shares of Best Buy from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $79.05.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 5,100 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $78.00, for a total value of $397,800.00. Following the sale, the chairman directly owned 10,849,537 shares of the company’s stock, valued at $846,263,886. This trade represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew M. Bilunas sold 11,356 shares of the firm’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 sale, the chief financial officer owned 76,884 shares in the company, valued at $4,922,113.68. The trade was a 12.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 660,780 shares of company stock worth $49,530,325. 0.50% of the stock is currently owned by insiders.

Best Buy Price Performance

Shares of NYSE BBY opened at $74.89 on Friday. Best Buy Co., Inc. has a fifty-two week low of $55.10 and a fifty-two week high of $84.99. The business has a 50 day moving average price of $65.39 and a two-hundred day moving average price of $66.56. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm has a market cap of $15.78 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.30.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same period in the prior year, the company posted $1.15 EPS. Best Buy’s quarterly revenue was up 1.9% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Sell-side analysts expect that Best Buy Co., Inc. will post 6.56 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $3.84 annualized dividend and a dividend yield of 5.1%. Best Buy’s dividend payout ratio (DPR) is 71.11%.

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.