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Barry Corie, CEO of Best Buy Co Inc (NYSE:BBY), recently made significant transactions involving the company’s stock at what InvestingPro analysis suggests is an opportune time, with shares trading near their 52-week low of $69.29. According to a recent SEC filing, Corie purchased 13,500 shares of Best Buy common stock on March 12, 2025, at a price of $72.92 per share, totaling approximately $984,420. The purchase comes as Best Buy, currently valued at $15.07 billion, appears undervalued according to InvestingPro’s Fair Value model.
Additionally, Corie exercised stock options to acquire 12,293 shares at $40.85 per share on March 11, 2025. This transaction, which automatically exercised upon expiration as per the award agreement, amounted to $502,169. Following this, 8,420 shares were automatically withheld to cover the exercise price and tax liabilities, valued at $74.82 per share, totaling $629,984. The company currently offers shareholders a substantial 5.41% dividend yield.
These transactions resulted in Corie’s direct ownership of 378,779.65 shares of Best Buy common stock. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access the detailed Pro Research Report, which includes expert analysis of Best Buy’s valuation, financial health, and growth prospects.
In other recent news, Best Buy has been the focus of several analyst reviews following its fiscal fourth-quarter earnings report. DA Davidson reaffirmed its Buy rating with a price target of $110, highlighting Best Buy’s stronger-than-expected sales and improved profit margins, driven by Membership, Marketplace, and Media. However, they noted potential risks from tariffs on products manufactured abroad. UBS also maintained a Buy rating but lowered its price target from $115 to $105, citing concerns over tariffs and market skepticism about earnings potential, despite positive indicators in the company’s financial performance.
Truist Securities took a more cautious approach, reducing its price target from $95 to $81 while keeping a Hold rating. They expressed concerns about the economic challenges and the potential impact of tariffs on Best Buy’s earnings. Loop Capital adjusted its price target to $90 from $100, maintaining a Buy rating after Best Buy’s earnings exceeded expectations but were overshadowed by tariff concerns. The firm believes the risks are already priced into the stock.
These recent developments reflect a mixed outlook among analysts, with the overarching theme being the potential impact of tariffs on Best Buy’s financial performance. Investors are advised to keep an eye on how the company navigates these external challenges and adjusts its sourcing strategy.
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