BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $4.07 Million Stock Position in Best Buy Co., Inc. (NYSE:BBY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its position in Best Buy Co., Inc. (NYSE:BBY) by 45.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 49,551 shares of the technology retailer’s stock after selling 40,953 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Best Buy were worth $4,065,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in Best Buy by 69.5% in the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock valued at $26,000 after acquiring an additional 132 shares during the period. MCF Advisors LLC boosted its position in shares of Best Buy by 2.7% during the first quarter. MCF Advisors LLC now owns 5,087 shares of the technology retailer’s stock valued at $422,000 after buying an additional 134 shares during the last quarter. Hartford Financial Management Inc. boosted its position in shares of Best Buy by 56.5% during the fourth quarter. Hartford Financial Management Inc. now owns 388 shares of the technology retailer’s stock valued at $30,000 after buying an additional 140 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Best Buy by 4.0% during the fourth quarter. UMB Bank n.a. now owns 3,839 shares of the technology retailer’s stock valued at $301,000 after buying an additional 148 shares during the last quarter. Finally, PrairieView Partners LLC boosted its position in shares of Best Buy by 67.1% during the first quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Activity at Best Buy

In related news, Chairman Richard M. Schulze sold 1,000,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $85.85, for a total transaction of $85,850,000.00. Following the completion of the transaction, the chairman now directly owns 15,890,103 shares in the company, valued at $1,364,165,342.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Jason J. Bonfig sold 3,500 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $83.02, for a total value of $290,570.00. Following the completion of the transaction, the executive vice president now directly owns 50,714 shares in the company, valued at approximately $4,210,276.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard M. Schulze sold 1,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $85.85, for a total value of $85,850,000.00. Following the completion of the transaction, the chairman now owns 15,890,103 shares of the company’s stock, valued at $1,364,165,342.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,003,500 shares of company stock worth $166,350,570. 0.59% of the stock is owned by company insiders.

Best Buy Stock Performance

Shares of NYSE:BBY traded up $0.56 during midday trading on Friday, reaching $88.66. 249,426 shares of the company traded hands, compared to its average volume of 3,157,220. The company has a quick ratio of 0.33, a current ratio of 1.01 and a debt-to-equity ratio of 0.37. Best Buy Co., Inc. has a 12 month low of $62.30 and a 12 month high of $93.72. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 2.87 and a beta of 1.48. The firm’s fifty day moving average price is $82.82 and its two-hundred day moving average price is $78.52.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, May 30th. The technology retailer reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Best Buy had a return on equity of 47.56% and a net margin of 2.90%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.96 billion. During the same period in the previous year, the company posted $1.15 EPS. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities analysts expect that Best Buy Co., Inc. will post 6.11 earnings per share for the current year.

Best Buy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Thursday, June 20th were paid a dividend of $0.94 per share. The ex-dividend date was Thursday, June 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.24%. Best Buy’s payout ratio is 65.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BBY. DA Davidson lifted their target price on Best Buy from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Citigroup upgraded Best Buy from a “sell” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $100.00 in a report on Monday, June 3rd. UBS Group upgraded Best Buy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $106.00 in a report on Monday, June 17th. Evercore ISI lifted their price target on Best Buy from $80.00 to $90.00 and gave the stock an “in-line” rating in a report on Friday, May 31st. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $95.00 price target on shares of Best Buy in a report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.87.

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.