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

Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in shares of Best Buy Co., Inc. (NYSE:BBY) by 36.5% in the 4th quarter, Holdings Channel reports. The firm owned 184,248 shares of the technology retailer’s stock after buying an additional 49,299 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Best Buy were worth $15,808,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. raised its position in shares of Best Buy by 10.5% during the third quarter. QRG Capital Management Inc. now owns 31,745 shares of the technology retailer’s stock worth $3,279,000 after purchasing an additional 3,025 shares during the period. Asset Management One Co. Ltd. lifted its stake in Best Buy by 27.4% during the third quarter. Asset Management One Co. Ltd. now owns 90,341 shares of the technology retailer’s stock valued at $9,332,000 after buying an additional 19,405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Best Buy by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,564 shares of the technology retailer’s stock worth $15,806,000 after acquiring an additional 18,171 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Best Buy in the 4th quarter valued at approximately $453,000. Finally, Nordea Investment Management AB grew its position in Best Buy by 563.8% during the 4th quarter. Nordea Investment Management AB now owns 592,460 shares of the technology retailer’s stock worth $50,643,000 after purchasing an additional 503,204 shares in the last quarter. 80.96% of the stock is currently owned by institutional investors.

Best Buy Price Performance

Shares of Best Buy stock opened at $84.81 on Friday. Best Buy Co., Inc. has a 1-year low of $69.29 and a 1-year high of $103.71. The firm’s 50-day moving average price is $85.97 and its two-hundred day moving average price is $90.05. The company has a current ratio of 1.00, a quick ratio of 0.22 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $18.13 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.16 and a beta of 1.43.

Best Buy (NYSE:BBY) last released 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 business had revenue of $9.45 billion for 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 company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 earnings per share. On average, equities analysts predict that Best Buy Co., Inc. will post 6.18 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 17th were paid 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 4.43%. Best Buy’s dividend payout ratio (DPR) is currently 64.27%.

Insider Buying and Selling at Best Buy

In other Best Buy 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 completion of the sale, the chief financial officer now owns 92,070 shares of the company’s stock, valued at approximately $8,052,442.20. The trade was a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BBY. Citigroup decreased their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. UBS Group dropped their price target on shares of Best Buy from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Loop Capital restated a “buy” rating and issued a $100.00 target price on shares of Best Buy in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised their price target on Best Buy from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Guggenheim dropped their price objective on Best Buy from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.72.

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.