Wall Street closes at a record for the first time since end of January
Todd G. Hartman, General Counsel and Chief Risk Officer at Best Buy Co Inc (NYSE:BBY), sold 5,339 shares of company stock on March 23, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $64.019, for a total transaction value of $341,797. The stock currently trades at $61.71, below Hartman’s sale price.
On March 20, 2026, Hartman also acquired 15,924 shares of Best Buy common stock. These restricted shares will vest in three equal annual installments beginning one year from the grant date. The price per share for this transaction was $0.
Following these transactions, Hartman directly owns 44,097.9498 shares of Best Buy, along with 291.8453 shares held in a 401(k) and 10,900 shares held in a revocable trust.InvestingPro analysis suggests Best Buy appears undervalued at current levels, with the stock offering a 6.09% dividend yield. Subscribers can access 10 additional ProTips and comprehensive Fair Value analysis for BBY.
In other recent news, Best Buy’s fourth-quarter results highlighted a mixed performance, with the company beating expectations in operating profits and earnings per share, despite missing revenue targets. Analysts from D.A. Davidson maintained a Buy rating, noting improved gross margins and effective expense management as key contributors to the earnings beat. However, Piper Sandler lowered its price target to $68, citing a soft sales outlook and guidance that fell short of expectations. Evercore ISI raised its price target to $75, pointing to the company’s ability to sustain margins even in a challenging demand environment.
Argus reiterated a Hold rating on Best Buy, adjusting its fiscal 2027 earnings estimate to $6.55 per share from $6.68, reflecting slightly lower sales expectations. The firm also set a fiscal 2028 earnings estimate at $7.24 per share, anticipating a 2% sales growth and an increase in operating margin. D.A. Davidson adjusted its fiscal 2026 and 2027 earnings estimates downward, aligning them with the company’s latest guidance. Despite the earnings outlook adjustments, D.A. Davidson maintained a Buy rating, expressing confidence in Best Buy’s strategic direction.
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