Best Buy’s chief risk officer Todd Hartman sells $355,461 in stock

Published 26/03/2025, 21:24
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Todd Hartman, the General Counsel and Chief Risk Officer at Best Buy Co. Inc. (NYSE:BBY), recently sold 4,893 shares of the company’s common stock. The transaction, which took place on March 21, 2025, was valued at approximately $355,461, with shares sold at a price of $72.647 each. According to InvestingPro data, Best Buy’s stock has experienced recent pressure, down about 24% over the past six months, though the company maintains a "GOOD" Financial Health score and offers a notable 5.1% dividend yield.

Following this sale, Hartman holds 32,319.9498 shares directly. Additionally, he maintains indirect ownership of 276.6283 shares through a 401(k) plan and 10,900 shares as a trustee for a revocable trust. The sale was made to cover tax withholding obligations upon the vesting of restricted shares and was not a discretionary transaction by Hartman. InvestingPro analysis reveals Best Buy has consistently raised its dividend for 7 consecutive years, demonstrating strong shareholder returns despite market challenges. For deeper insights into insider trading patterns and comprehensive financial analysis, explore the detailed Pro Research Report available on InvestingPro.

In other recent news, Best Buy’s fourth-quarter earnings results have been a focal point for analysts, with the company reporting better-than-expected figures. Despite this positive performance, several firms have adjusted their price targets due to concerns about tariffs and their potential impact on Best Buy’s financial outlook. UBS lowered its price target from $115 to $105, while maintaining a Buy rating, citing challenges in assessing tariff effects and optimism for improved sales later in the year. Similarly, Loop Capital reduced its target from $100 to $90 but reaffirmed a Buy rating, noting the overshadowing impact of tariffs from China and Mexico.

Meanwhile, Truist Securities took a more cautious approach, cutting its price target from $95 to $81 and maintaining a Hold rating, highlighting significant risks from potential tariff impacts on earnings. DA Davidson, on the other hand, maintained a Buy rating with a $110 target, emphasizing Best Buy’s strong product cycles and profit margin gains. Analysts have pointed out that tariffs could potentially affect Best Buy’s comparable sales and earnings, with the company estimating a 1% sales impact from a 10% tariff on Chinese imports. Investors are closely watching how Best Buy navigates these external economic factors and adjusts its strategies to mitigate potential risks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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