Richard M. Schulze, Chairman Emeritus of Best Buy Co Inc (NASDAQ:BBY), has executed a substantial reduction in his equity position, offloading approximately $73.99 million worth of the company's common stock over a two-day period in mid-July 2026. The transactions, which took place on July 13 and July 14, involved the disposition of exactly 900,000 shares. This insider activity is notable given the current trading environment for Best Buy, with the stock priced at $85.37, hovering near its 52-week high of $84.99 and reflecting a year-to-date gain of 29%.
According to analysis data, the stock remains undervalued with a calculated Fair Value of $91.48, placing it among opportunities on the Most Undervalued list. The shares were sold at prices ranging from $80.8839 to $83.6285 per share. All reported sales were executed indirectly through a revocable trust for which Mr. Schulze serves as trustee. These transactions were carried out pursuant to a Rule 10b5-1 trading plan, which was established by Mr. Schulze on June 12, 2026, providing a structured framework for the divestment.
Following these sales, Mr. Schulze’s indirect holdings in Best Buy common stock through the revocable trust totaled 9,530,936 shares. He also holds additional indirect shares through various other entities, including 69,400.4455 shares in a 401(k) plan, 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 developments, Best Buy Co. announced that it will be the exclusive U.S. retailer for RGB LED televisions from major brands such as Samsung, Sony, LG, TCL, and Hisense. These TVs are now available in nearly all Best Buy stores, with screen sizes ranging from 50 inches to 116 inches. In another development, Best Buy’s Chief Financial Officer, Matt Bilunas, will step down from his role and leave the company on July 31, after serving as CFO for seven years and being with the company for 20 years. The company is working with an external search firm to find a successor with previous CFO experience.
Additionally, Truist Securities has reiterated a Hold rating on Best Buy stock, noting a smooth CEO transition with incoming CEO Jason Bonfig, who has 27 years of experience at the company. The firm also highlighted continued strong demand for innovative products at higher price points, including gaming, computing hardware, AI wearables, and potentially RGB TVs. Meanwhile, KeyBanc analyst Bradley Thomas maintained a Sector Weight rating on Best Buy stock following discussions with the company’s leadership about strategic initiatives and competitive positioning.