Best Buy Co., Inc. (NYSE:BBY) Stock Holdings Raised by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. boosted its position in Best Buy Co., Inc. (NYSE:BBY - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 184,248 shares of the technology retailer's stock after purchasing an additional 49,299 shares during the period. Cantor Fitzgerald Investment Advisors L.P. owned about 0.09% of Best Buy worth $15,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BBY. Golden State Wealth Management LLC purchased a new position in Best Buy in the fourth quarter valued at about $32,000. Trust Co. of Vermont increased its holdings in Best Buy by 1,200.0% in the fourth quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer's stock valued at $36,000 after buying an additional 384 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Best Buy in the third quarter valued at about $40,000. LRI Investments LLC increased its holdings in Best Buy by 632.1% in the third quarter. LRI Investments LLC now owns 388 shares of the technology retailer's stock valued at $40,000 after buying an additional 335 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Best Buy in the third quarter valued at about $44,000. Institutional investors and hedge funds own 80.96% of the company's stock.

Insider Activity at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of Best Buy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares of the company's stock, valued at $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Best Buy from $107.00 to $95.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. Barclays dropped their price objective on shares of Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Thursday, January 9th. JPMorgan Chase & Co. raised their price objective on shares of Best Buy from $111.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. DA Davidson reissued a "buy" rating and set a $117.00 price objective on shares of Best Buy in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Best Buy from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $101.72.

Best Buy Trading Down 1.4 %

Shares of BBY traded down $1.22 during mid-day trading on Wednesday, reaching $86.79. The company had a trading volume of 1,874,160 shares, compared to its average volume of 2,409,395. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.01 and a beta of 1.43. The firm has a fifty day simple moving average of $85.79 and a 200-day simple moving average of $90.06. Best Buy Co., Inc. has a fifty-two week low of $69.29 and a fifty-two week high of $103.71. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37.

Best Buy (NYSE:BBY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The technology retailer reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.04). The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $9.63 billion. Best Buy had a net margin of 3.01% and a return on equity of 45.93%. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 EPS. On average, sell-side analysts anticipate that Best Buy Co., Inc. will post 6.18 EPS for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 17th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $3.76 annualized dividend and a dividend yield of 4.33%. Best Buy's payout ratio is 64.27%.

Best Buy Profile

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.