Mercer Global Advisors Inc. ADV Takes $3.63 Million Position in Best Buy Co., Inc. (NYSE:BBY)

Mercer Global Advisors Inc. ADV acquired a new position in Best Buy Co., Inc. (NYSE:BBY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 42,253 shares of the technology retailer's stock, valued at approximately $3,625,000.

Several other institutional investors have also added to or reduced their stakes in BBY. Rakuten Securities Inc. lifted its stake in shares of Best Buy by 971.9% during the 4th quarter. Rakuten Securities Inc. now owns 343 shares of the technology retailer's stock worth $29,000 after acquiring an additional 311 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Best Buy during the 4th quarter worth $32,000. Atlas Capital Advisors Inc. boosted its stake in shares of Best Buy by 186.9% during the fourth quarter. Atlas Capital Advisors Inc. now owns 373 shares of the technology retailer's stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. OFI Invest Asset Management bought a new stake in Best Buy during the 4th quarter valued at $34,000. Finally, Trust Co. of Vermont raised its position in shares of Best Buy by 1,200.0% in the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock worth $36,000 after acquiring an additional 384 shares in the last quarter. Institutional investors own 80.96% of the company's stock.

Best Buy Price Performance

NYSE BBY traded down $0.57 on Friday, hitting $68.85. The company had a trading volume of 1,880,992 shares, compared to its average volume of 3,328,929. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.00 and a quick ratio of 0.22. The company's fifty day moving average price is $68.44 and its 200-day moving average price is $81.17. The company has a market capitalization of $14.57 billion, a PE ratio of 11.77, a PEG ratio of 2.10 and a beta of 1.27. Best Buy Co., Inc. has a 12-month low of $54.99 and a 12-month high of $103.71.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The technology retailer reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.18. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period last year, the company posted $2.72 EPS. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, March 25th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.52%. This is a boost from Best Buy's previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Tuesday, March 25th. Best Buy's dividend payout ratio is 88.99%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BBY shares. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. Barclays lowered their price objective on Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research report on Thursday, January 9th. DA Davidson reaffirmed a "buy" rating and set a $110.00 target price on shares of Best Buy in a research report on Monday, April 14th. Morgan Stanley dropped their price target on Best Buy from $100.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Best Buy from $89.00 to $85.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $91.28.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 2,951 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $72.65, for a total transaction of $214,390.15. Following the completion of the sale, the chief accounting officer now directly owns 21,371 shares in the company, valued at approximately $1,552,603.15. This trade represents a 12.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew M. Bilunas sold 51,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $74.20, for a total transaction of $3,784,200.00. Following the sale, the chief financial officer now owns 55,856 shares of the company's stock, valued at $4,144,515.20. This represents a 47.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,355 shares of company stock valued at $5,767,213. Corporate insiders own 0.47% of the company's stock.

About Best Buy

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.