Best Buy Co., Inc. (NYSE:BBY) Shares Acquired by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,391 shares of the technology retailer's stock after acquiring an additional 13,143 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P. owned about 0.09% of Best Buy worth $14,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBY. Principal Securities Inc. raised its stake in Best Buy by 29.7% during the 4th quarter. Principal Securities Inc. now owns 11,184 shares of the technology retailer's stock worth $960,000 after acquiring an additional 2,563 shares in the last quarter. CIBC Asset Management Inc raised its stake in Best Buy by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 34,976 shares of the technology retailer's stock worth $3,001,000 after acquiring an additional 727 shares in the last quarter. Truist Financial Corp raised its stake in Best Buy by 11.7% during the 4th quarter. Truist Financial Corp now owns 29,357 shares of the technology retailer's stock worth $2,519,000 after acquiring an additional 3,072 shares in the last quarter. Alberta Investment Management Corp raised its stake in Best Buy by 424.0% during the 4th quarter. Alberta Investment Management Corp now owns 26,200 shares of the technology retailer's stock worth $2,248,000 after acquiring an additional 21,200 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in Best Buy by 209.3% during the 4th quarter. Ieq Capital LLC now owns 47,574 shares of the technology retailer's stock worth $4,082,000 after acquiring an additional 32,195 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Best Buy Price Performance

BBY stock traded down $1.07 during trading on Monday, reaching $66.45. 3,981,207 shares of the company were exchanged, compared to its average volume of 3,319,358. The company has a market cap of $14.04 billion, a P/E ratio of 16.25, a PEG ratio of 1.78 and a beta of 1.25. Best Buy Co., Inc. has a 52-week low of $54.99 and a 52-week high of $103.71. The stock's 50 day moving average price is $68.71 and its 200 day moving average price is $76.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 1.02.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The technology retailer reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.06. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.77 billion. Best Buy had a net margin of 2.13% and a return on equity of 46.40%. The firm's revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. As a group, analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 19th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend is Wednesday, June 18th. Best Buy's payout ratio is currently 92.91%.

Wall Street Analyst Weigh In

BBY has been the topic of several research reports. KeyCorp reissued a "sector weight" rating on shares of Best Buy in a research report on Wednesday, March 5th. Wedbush lowered their price objective on shares of Best Buy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Evercore ISI lowered their price objective on shares of Best Buy from $95.00 to $80.00 and set an "in-line" rating on the stock in a research report on Wednesday, March 5th. Bank of America lowered their price objective on shares of Best Buy from $80.00 to $75.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. Finally, Barclays lowered their price objective on shares of Best Buy from $89.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $86.11.

Insiders Place Their Bets

In other news, Chairman Richard M. Schulze sold 729,201 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $72.95, for a total value of $53,195,212.95. Following the completion of the transaction, the chairman now owns 196,100 shares of the company's stock, valued at $14,305,495. The trade was a 78.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Best Buy Company 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.