Pacer Advisors Inc. raised its holdings in Best Buy Co., Inc. (NYSE:BBY) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,652 shares of the technology retailer’s stock after purchasing an additional 429 shares during the quarter. Pacer Advisors Inc.’s holdings in Best Buy Co. were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in BBY. Acadian Asset Management LLC grew its stake in Best Buy Co. by 418.5% in the 1st quarter. Acadian Asset Management LLC now owns 23,249 shares of the technology retailer’s stock valued at $1,144,000 after purchasing an additional 18,765 shares during the period. Janney Montgomery Scott LLC grew its stake in Best Buy Co. by 0.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,173 shares of the technology retailer’s stock valued at $844,000 after purchasing an additional 106 shares during the period. Tocqueville Asset Management L.P. grew its stake in Best Buy Co. by 4.2% in the 1st quarter. Tocqueville Asset Management L.P. now owns 7,163 shares of the technology retailer’s stock valued at $352,000 after purchasing an additional 291 shares during the period. Advisory Services Network LLC bought a new position in Best Buy Co. in the 1st quarter valued at $134,000. Finally, Eqis Capital Management Inc. bought a new stake in Best Buy Co. during the first quarter valued at about $294,000. Hedge funds and other institutional investors own 86.46% of the company’s stock.
Shares of Best Buy Co., Inc. (BBY) traded up 0.34% during mid-day trading on Friday, hitting $58.58. 2,037,958 shares of the stock were exchanged. Best Buy Co., Inc. has a 12-month low of $37.10 and a 12-month high of $63.32. The firm has a 50-day moving average price of $58.76 and a 200 day moving average price of $53.57. The company has a market capitalization of $17.53 billion, a PE ratio of 15.50 and a beta of 1.48.
Best Buy Co. (NYSE:BBY) last posted its quarterly earnings data on Tuesday, August 29th. The technology retailer reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. The firm had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Best Buy Co. had a return on equity of 27.41% and a net margin of 3.00%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. On average, equities research analysts expect that Best Buy Co., Inc. will post $4.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.36 dividend on an annualized basis and a yield of 2.33%. Best Buy Co.’s dividend payout ratio (DPR) is 35.88%.
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A number of equities analysts have recently weighed in on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Best Buy Co. in a research note on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Best Buy Co. in a research note on Friday, September 1st. Wedbush reaffirmed a “buy” rating and issued a $33.00 price objective (up previously from $29.00) on shares of Best Buy Co. in a research note on Thursday, August 31st. UBS AG reiterated a “buy” rating and issued a $60.00 target price (down from $62.00) on shares of Best Buy Co. in a research report on Thursday, August 31st. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of Best Buy Co. in a research report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.92.
In other Best Buy Co. news, CFO Corie S. Barry sold 3,426 shares of Best Buy Co. stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $54.68, for a total transaction of $187,333.68. Following the completion of the transaction, the chief financial officer now owns 57,903 shares in the company, valued at approximately $3,166,136.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shari L. Ballard sold 9,778 shares of Best Buy Co. stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $54.68, for a total value of $534,661.04. Following the transaction, the insider now owns 84,613 shares of the company’s stock, valued at approximately $4,626,638.84. The disclosure for this sale can be found here. Insiders sold a total of 152,328 shares of company stock valued at $8,436,505 in the last 90 days. 1.21% of the stock is currently owned by company insiders.
About Best Buy Co.
Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.
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