BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 10,004 Shares of Best Buy Co., Inc. (NYSE:BBY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 20.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,547 shares of the technology retailer’s stock after selling 10,004 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Best Buy were worth $3,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC raised its stake in Best Buy by 69.5% during the first quarter. Rise Advisors LLC now owns 322 shares of the technology retailer’s stock worth $26,000 after buying an additional 132 shares during the last quarter. Palisade Asset Management LLC bought a new position in shares of Best Buy in the 1st quarter worth about $27,000. Access Investment Management LLC acquired a new position in shares of Best Buy in the 4th quarter valued at about $27,000. PrairieView Partners LLC boosted its position in shares of Best Buy by 67.1% during the 1st quarter. PrairieView Partners LLC now owns 376 shares of the technology retailer’s stock valued at $31,000 after purchasing an additional 151 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Best Buy during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 88,542 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $88.25, for a total transaction of $7,813,831.50. Following the sale, the chairman now directly owns 13,602,853 shares in the company, valued at approximately $1,200,451,777.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Richard M. Schulze sold 600,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $88.29, for a total value of $52,974,000.00. Following the transaction, the chairman now owns 14,002,853 shares of the company’s stock, valued at $1,236,311,891.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard M. Schulze sold 88,542 shares of Best Buy stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $88.25, for a total value of $7,813,831.50. Following the sale, the chairman now directly owns 13,602,853 shares of the company’s stock, valued at approximately $1,200,451,777.25. The disclosure for this sale can be found here. Insiders sold 1,383,370 shares of company stock valued at $122,233,276 over the last three months. Company insiders own 0.59% of the company’s stock.

Wall Street Analyst Weigh In

BBY has been the topic of a number of research analyst reports. Wedbush increased their price target on Best Buy from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $101.00 to $111.00 and gave the company an “overweight” rating in a research report on Friday. Loop Capital raised their price target on shares of Best Buy from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Bank of America upped their price objective on shares of Best Buy from $70.00 to $80.00 and gave the company an “underperform” rating in a report on Friday. Finally, Truist Financial lifted their target price on shares of Best Buy from $86.00 to $107.00 and gave the stock a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Best Buy currently has a consensus rating of “Hold” and a consensus target price of $100.94.

Best Buy Stock Up 0.2 %

Shares of NYSE BBY opened at $100.40 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.33. The stock has a market capitalization of $21.66 billion, a PE ratio of 17.58, a P/E/G ratio of 3.20 and a beta of 1.48. Best Buy Co., Inc. has a one year low of $62.30 and a one year high of $103.71. The business’s fifty day moving average price is $85.94 and its 200-day moving average price is $81.19.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.23 billion. During the same quarter last year, the business earned $1.22 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Best Buy Co., Inc. will post 6.27 EPS for the current year.

Best Buy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.94 per share. The ex-dividend date is Thursday, September 19th. This represents a $3.76 annualized dividend and a dividend yield of 3.75%. Best Buy’s dividend payout ratio is currently 65.85%.

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.