Pacer Advisors Inc. Has $130.17 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

Pacer Advisors Inc. lifted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 9,259.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,588,392 shares of the technology retailer’s stock after purchasing an additional 1,571,421 shares during the period. Pacer Advisors Inc. owned 0.73% of Best Buy worth $130,169,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Arlington Partners LLC acquired a new position in shares of Best Buy during the first quarter worth $28,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Best Buy in the first quarter valued at $28,000. Clear Street Markets LLC lifted its holdings in Best Buy by 90.6% in the first quarter. Clear Street Markets LLC now owns 385 shares of the technology retailer’s stock valued at $30,000 after buying an additional 183 shares during the period. Cambridge Trust Co. lifted its holdings in Best Buy by 3,900.0% in the first quarter. Cambridge Trust Co. now owns 400 shares of the technology retailer’s stock valued at $31,000 after buying an additional 390 shares during the period. Finally, BOKF NA acquired a new position in Best Buy in the first quarter valued at $33,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

Best Buy Stock Up 0.4 %

Shares of NYSE:BBY traded up $0.31 during midday trading on Tuesday, hitting $70.95. 440,746 shares of the company’s stock were exchanged, compared to its average volume of 2,303,482. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.98 and a quick ratio of 0.31. The stock has a 50 day moving average price of $78.49 and a 200-day moving average price of $76.72. The company has a market cap of $15.44 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.89 and a beta of 1.54. Best Buy Co., Inc. has a 12 month low of $60.78 and a 12 month high of $93.32.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Tuesday, August 29th. The technology retailer reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.16. Best Buy had a net margin of 2.91% and a return on equity of 49.40%. The business had revenue of $9.58 billion for the quarter, compared to analysts’ expectations of $9.52 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.22 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Monday, September 18th. Best Buy’s dividend payout ratio (DPR) is presently 63.34%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Best Buy from $77.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, August 29th. Wedbush boosted their target price on shares of Best Buy from $72.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. Guggenheim reaffirmed a “buy” rating and issued a $86.00 price target on shares of Best Buy in a research note on Wednesday, August 30th. SpectralCast reaffirmed a “maintains” rating on shares of Best Buy in a research note on Friday, May 26th. Finally, Credit Suisse Group decreased their price target on shares of Best Buy from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Best Buy presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Insider Buying and Selling

In related news, Chairman Richard M. Schulze sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.24, for a total transaction of $8,524,000.00. Following the transaction, the chairman now directly owns 349,448 shares in the company, valued at $29,786,947.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Richard M. Schulze sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.24, for a total transaction of $8,524,000.00. Following the transaction, the chairman now directly owns 349,448 shares in the company, valued at $29,786,947.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard M. Schulze sold 250,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $82.90, for a total transaction of $20,725,000.00. Following the transaction, the chairman now owns 390,148 shares in the company, valued at $32,343,269.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 384,191 shares of company stock worth $32,028,728. 0.56% of the stock is owned by insiders.

About Best Buy

Best Buy Co, Inc engages in the retail of technology products in the United States and Canada. The company operates in two segments, Domestic 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, home theater, portable audio comprising headphones and portable speakers, and smart home products.