Cantor Fitzgerald Investment Advisors L.P. Purchases 2,453 Shares of Best Buy Co., Inc. $BBY

Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,844 shares of the technology retailer’s stock after purchasing an additional 2,453 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P. owned approximately 0.09% of Best Buy worth $13,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBY. New Wave Wealth Advisors LLC bought a new stake in Best Buy during the second quarter worth about $405,000. Community Bank & Trust Waco Texas grew its position in Best Buy by 3.5% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 32,051 shares of the technology retailer’s stock worth $2,152,000 after acquiring an additional 1,081 shares during the last quarter. LBP AM SA increased its holdings in Best Buy by 734.3% during the 2nd quarter. LBP AM SA now owns 129,672 shares of the technology retailer’s stock valued at $8,705,000 after purchasing an additional 114,129 shares in the last quarter. Truist Financial Corp raised its position in Best Buy by 5.1% in the 2nd quarter. Truist Financial Corp now owns 28,195 shares of the technology retailer’s stock valued at $1,893,000 after purchasing an additional 1,369 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in Best Buy by 0.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 19,033 shares of the technology retailer’s stock valued at $1,278,000 after purchasing an additional 154 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Best Buy from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Citigroup restated a “buy” rating on shares of Best Buy in a research report on Thursday, August 28th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research note on Friday, August 29th. Wells Fargo & Company increased their price target on shares of Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Bank of America lowered their price target on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating for the company in a report on Friday, August 29th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.50.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 196,100 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.00, for a total value of $14,511,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mathew Watson sold 3,715 shares of Best Buy stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.07, for a total transaction of $275,170.05. Following the transaction, the chief accounting officer directly owned 22,150 shares in the company, valued at $1,640,650.50. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,833 shares of company stock worth $14,941,472. Company insiders own 0.47% of the company’s stock.

Best Buy Stock Up 2.3%

Shares of NYSE:BBY opened at $77.33 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 1.99 and a beta of 1.23. The company has a 50 day moving average of $72.43 and a 200-day moving average of $70.06. Best Buy Co., Inc. has a one year low of $54.99 and a one year high of $101.42.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Thursday, August 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. Best Buy had a net margin of 1.87% and a return on equity of 47.32%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.23 billion. During the same period in the prior year, the business posted $1.34 earnings per share. Best Buy’s revenue was up 1.6% compared to the same quarter last year. Best Buy has set its FY 2026 guidance at 6.150-6.300 EPS. On average, sell-side analysts forecast that Best Buy Co., Inc. will post 6.18 earnings per share for the current year.

Best Buy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 18th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $3.80 annualized dividend and a yield of 4.9%. Best Buy’s dividend payout ratio is presently 104.97%.

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.