Richard M. Schulze, Chairman Emeritus of Best Buy Co Inc (NASDAQ:BBY), has executed a substantial reduction in his equity position, selling 418,601 shares of common stock over a two-day period. The transactions, detailed in a recent Form 4 filing submitted to the Securities and Exchange Commission, occurred on June 25 and June 26, 2026. The aggregate value of these sales reached approximately $32.7 million. The shares were disposed of at weighted average prices that fluctuated between $78.1041 and $78.1321.
On June 25, Schulze sold 193,896 shares at a weighted average price of $78.1321 per share. These transactions were executed through multiple trades, with individual prices ranging from $78.00 to $78.57. The following day, June 26, an additional 224,705 shares were sold at a weighted average price of $78.1041 per share, with individual transaction prices falling between $78.00 and $78.26. All sales were conducted indirectly through a revocable trust, where Mr. Schulze serves as trustee.
Following these transactions, Mr. Schulze indirectly holds 10,430,936 shares of Best Buy common stock through the revocable trust. His other indirect holdings include 69,400.4455 shares in an employee retirement savings account (401(k)), which reflects a periodic adjustment as of June 24, 2026. Additionally, he holds 2,061 shares in an IRA, 702,903 shares as the sole general partner of a limited partnership, 1,153,938 shares through a Spousal GRAT, 399 shares held by his spouse, and 172,831 shares through a Spouse Irrevocable Trust.
The sale comes as Best Buy shares trade at $77.71, up 18% year-to-date. According to InvestingPro analysis, the stock appears undervalued at current levels, placing it among opportunities on the Most Undervalued list. The company trades at a P/E ratio of 14.39 with a PEG ratio of just 0.45, while offering shareholders a 5% dividend yield.
Following these transactions, Mr. Schulze indirectly holds 10,430,936 shares of Best Buy common stock through the revocable trust. His other indirect holdings include 69,400.4455 shares in an employee retirement savings account (401(k)), which reflects a periodic adjustment as of June 24, 2026. Additionally, he holds 2,061 shares in an IRA, 702,903 shares as the sole general partner of a limited partnership, 1,153,938 shares through a Spousal GRAT, 399 shares held by his spouse, and 172,831 shares through a Spouse Irrevocable Trust.
In other recent news, Best Buy Co. announced that Matt Bilunas, who has served as Chief Financial Officer for seven years, will step down from his role and leave the company on July 31. The company is actively searching for a successor with prior CFO experience. Additionally, Best Buy has become the exclusive U.S. retailer for RGB LED televisions from major brands such as Samsung, Sony, LG, TCL, and Hisense, making these products available in nearly all its stores.
Truist Securities reiterated a Hold rating on Best Buy, citing a smooth CEO transition with incoming CEO Jason Bonfig, who brings 27 years of experience at the company. The firm also noted strong demand for innovative products at higher price points, including gaming, computing hardware, AI wearables, and potentially RGB TVs. KeyBanc analyst Bradley Thomas maintained a Sector Weight rating on Best Buy stock after discussions with the company’s leadership team regarding strategic initiatives and competitive positioning.
These developments reflect ongoing changes and strategic moves within Best Buy as it navigates leadership transitions and product offerings.