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Mathew Watson, Senior Vice President, Controller, and Chief Accounting Officer at Best Buy Co Inc (NYSE:BBY), a prominent player in the specialty retail industry with a market capitalization of $15.85 billion, reported a sale of company shares, according to a recent SEC filing. According to InvestingPro analysis, Best Buy currently trades below its Fair Value, suggesting potential upside opportunity. On March 21, Watson sold 2,951 shares of Best Buy common stock at an average price of $72.647 per share, amounting to a total transaction value of approximately $214,381. Following this transaction, Watson holds 21,371 shares directly. The sale was made to cover tax withholding obligations related to the vesting of restricted shares, as noted in the filing. Best Buy maintains strong shareholder returns, having raised its dividend for 7 consecutive years and maintained payments for 23 years straight. Discover more insights about BBY and 1,400+ other stocks with InvestingPro’s comprehensive research reports.
In other recent news, Best Buy has been the focus of several analyst updates following its fiscal fourth-quarter results. DA Davidson reaffirmed its Buy rating on Best Buy with a price target of $110, citing stronger-than-expected fourth-quarter sales and improved profit margins driven by membership programs, marketplace, and media. However, the firm noted potential risks from tariffs on international products, which could affect future outcomes. UBS also maintained a Buy rating but lowered its price target from $115 to $105, highlighting challenges in estimating the impact of tariffs despite positive elements in Best Buy’s quarterly performance. Truist Securities took a more cautious approach, reducing its price target from $95 to $81 and expressing concerns about the economic challenges and tariffs affecting Best Buy’s earnings potential. Loop Capital adjusted its price target from $100 to $90 while maintaining a Buy rating, acknowledging the strong quarterly results but noting the overshadowing effects of tariffs from China and Mexico. These developments underscore the mixed sentiment among analysts regarding Best Buy’s ability to navigate tariff-related challenges while capitalizing on its recent operational strengths.
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