SCHULZE RICHARD M sold $6.4M of BBY (indirect holdings)

Jefferies downgraded Best Buy (BBY) to Hold from Buy, citing slowing consumer demand and higher cost pressures. It said July purchase-intent fell more than 3% YoY and expects limited upside to any Q2-driven guidance. Jefferies kept a $85 price target and forecasts FY2027 EPS of $6.65 and revenue of $42.2B. It expects DRAM costs to pressure PC sales.

Best Buy (BBY) said Jason Bonfig will become CEO on Nov. 1 and plans to expand into smaller-format stores of about 12,000 to 15,000 sq ft, versus roughly 40,000 sq ft for traditional locations, to reach markets too small for big-box sites. The company reported Q1 FY2027 enterprise revenue of about $8.94B and adjusted EPS of $1.28, with comparable sales up 2%, and kept FY outlook at adjusted EPS $6.30 to $6.60.

Telsey raised its Best Buy (BBY) price target to $95 from $90 and kept an Outperform rating after the retailer named Anne Bramman as CFO effective Aug. 19, replacing Matt Bilunas. BBY shares trade around $85.25. The article also notes other analyst actions and that 12 analysts recently lifted earnings estimates.

Best Buy (BBY) shares fell about 2.8% after BofA Securities resumed coverage with an underperform rating and a $80 price target. The move followed CFO Matt Bilunas’ late-July departure and ongoing search for a replacement. Shares later traded around $84.03. The article cites BBY Q1 revenue of $8.94B and adjusted EPS of $1.28.

Best Buy executives discussed a new 30-by-30-foot Meta AI shop-in-shop concept in select stores, featuring Ray-Ban Meta glasses. The company plans 50 stores carrying the frames by year-end and up to 200+ next year, citing survey data that over 50% of customers want to see the glasses in person and 175,000+ demos since last October.

SCHULZE RICHARD M sold 900,000 indirectly-held shares of BEST BUY CO INC (BBY) at an average of $82.21 ($80.88–$83.63, $73.99M total) across 7 trades over 2026-07-13 to 2026-07-14 under a Rule 10b5-1 trading plan.