BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $17.58 Million Holdings in Best Buy Co., Inc. (NYSE:BBY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Best Buy Co., Inc. (NYSE:BBY - Free Report) by 330.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,155 shares of the technology retailer's stock after purchasing an additional 130,608 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.08% of Best Buy worth $17,577,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. lifted its stake in Best Buy by 190.9% in the 2nd quarter. Richardson Financial Services Inc. now owns 320 shares of the technology retailer's stock worth $27,000 after acquiring an additional 210 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Best Buy during the 2nd quarter valued at about $35,000. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy during the 3rd quarter valued at about $40,000. Whittier Trust Co. increased its holdings in shares of Best Buy by 53.3% during the 2nd quarter. Whittier Trust Co. now owns 492 shares of the technology retailer's stock valued at $41,000 after acquiring an additional 171 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Best Buy by 103.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 509 shares of the technology retailer's stock valued at $42,000 after buying an additional 259 shares during the last quarter. 80.96% of the stock is owned by hedge funds and other institutional investors.

Best Buy Stock Up 3.5 %

Shares of Best Buy stock traded up $3.03 during trading hours on Friday, reaching $89.54. 4,553,058 shares of the company's stock were exchanged, compared to its average volume of 2,867,572. The company has a 50 day moving average of $94.72 and a two-hundred day moving average of $88.62. Best Buy Co., Inc. has a fifty-two week low of $67.80 and a fifty-two week high of $103.71. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19.23 billion, a P/E ratio of 15.44, a P/E/G ratio of 2.26 and a beta of 1.47.

Best Buy (NYSE:BBY - Get Free Report) last issued its earnings results on Thursday, August 29th. The technology retailer reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. Best Buy had a net margin of 2.96% and a return on equity of 47.19%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.23 billion. During the same period last year, the business posted $1.22 EPS. Best Buy's revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Best Buy Co., Inc. will post 6.28 EPS for the current fiscal year.

Best Buy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 19th were paid a $0.94 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.76 annualized dividend and a yield of 4.20%. Best Buy's dividend payout ratio (DPR) is currently 64.83%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BBY shares. Loop Capital raised their target price on Best Buy from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, August 30th. Wells Fargo & Company raised their target price on Best Buy from $80.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Friday, August 30th. Evercore ISI raised their target price on Best Buy from $90.00 to $94.00 and gave the stock an "in-line" rating in a research report on Friday, August 30th. BNP Paribas raised shares of Best Buy to a "strong-buy" rating in a report on Thursday, August 29th. Finally, StockNews.com downgraded Best Buy from a "buy" rating to a "hold" rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.71.

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.