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In a recent transaction, Harmon Damien, Senior Executive Vice President of Customer, Channel Experience & Enterprise at Best Buy Co Inc. (NYSE:BBY), sold a portion of his holdings in the company. On March 21, Damien sold 4,047 shares of Best Buy common stock at an average price of $72.65 per share, totaling approximately $294,002. Following this transaction, Damien retains ownership of 56,786 shares in the company. According to InvestingPro analysis, Best Buy’s stock appears undervalued at current levels, with the company maintaining a healthy 5.1% dividend yield and having raised its dividend for 7 consecutive years.
The sale was executed to cover tax withholding obligations upon the vesting of restricted shares, as noted in the filing. This transaction does not represent a discretionary sale by Damien. For deeper insights into insider transactions and comprehensive analysis, InvestingPro offers detailed research reports covering Best Buy and 1,400+ other top US stocks.
In other recent news, Best Buy has been the focus of multiple analyst assessments following its fourth-quarter earnings report. DA Davidson reaffirmed its Buy rating with a $110 price target, citing stronger-than-expected comparable sales and improving profit margins driven by membership programs, marketplace, and media. UBS also maintained a Buy rating but lowered its price target from $115 to $105, highlighting concerns about the impact of tariffs and the company’s guidance on comparable sales improvement. Meanwhile, Truist Securities took a more cautious approach, cutting its price target from $95 to $81 and maintaining a Hold rating due to potential risks from tariffs that could affect earnings and comparable store sales. Loop Capital reduced its price target to $90 from $100, yet upheld a Buy rating, noting that Best Buy’s fiscal fourth-quarter results exceeded expectations despite tariff concerns. These recent developments reflect a mix of optimism and caution among analysts, as Best Buy navigates the challenges posed by international trade tensions.
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