With its level of success over the years, one would expect Hobby Lobby to be a publicly-traded company like other retailers of its size.
If you’re interested in the company’s ownership and shares, we have done the research into the company and come up with this article that answers all your questions!
Is Hobby Lobby Publicly Traded In 2022?
Hobby Lobby is not publicly traded in 2022. A publicly-traded company is one whose shares have been offered for purchase by anyone, something Hobby Lobby hasn’t done. All its shares are owned and controlled by the family of the founder and CEO David Green, who states that the company does not intend to publicly trade at this time.
Keep reading to learn everything you need to know about Hobby Lobby’s private ownership, including what that means, who controls the company’s shares, and more!
Is Hobby Lobby Public Or Private?
Hobby Lobby is a private company, which means it’s a business owned by a small group of investors, the original founders, or a management group.
Since the company is owned by the family of the founder and CEO David Green, it’s a private company.
The company website says that it’s the largest privately owned arts and crafts store in the world.
A public company, on the other hand, is one that has sold part or all of itself to the public via an offering that allows anyone to buy shares.
If Hobby Lobby decided to go public, people could buy its shares and track its progress through the stock market.
Hobby Lobby would also have to answer to its investors, in order to ensure that they get a return on their investment, i.e, the stock price goes up and they get dividends from the company’s finances.
Hobby Lobby has said that they don’t plan on going public for the possible reasons discussed below.
Is Hobby Lobby on the Stock Market?
Hobby Lobby is not on the stock market because it’s not a publicly-traded company.
All the companies that are on the stock market have their shares available to purchase by the general public, something Hobby Lobby has not offered.
Rather, all of Hobby Lobby’s shares are in the hands of the founder’s family.
What Is Hobby Lobby’s Stock Symbol?
Hobby Lobby doesn’t have a stock symbol because the company is not publicly traded.
Stock symbols are used to track the progress of publicly-traded companies on the stock market, so the investors can know how the business is doing.
Does Hobby Lobby Have Stock?
Hobby Lobby has stock, but it’s not available to purchase by anyone, as it is owned 100 percent by the family of founder and CEO David Green.
It’s not clear exactly how these shares have been split up amongst the family members, but it is confirmed that they’re kept within that select group.
Who Owns Hobby Lobby Stock?
Hobby Lobby stock is fully owned by the family of founder and CEO David Green as it has been since the company began operations in 1972.
According to the Hobby Lobby website, the family doesn’t intend to give up control of the company by selling their shares to the public.
This means that they don’t have to answer to investors, so they can run the company pretty much however they want.
Green and his family are fundamentalist Christians, and they operate the company with these beliefs.
For example, they do not open their stores on Sundays due to their religious beliefs.
By their own admission, this decision has a negative impact on their financial performance, but they have said that they will not be lifting it.
If Hobby Lobby had investors, the company might be forced to have locations open every day in order to drive up profits, especially by capitalizing on holidays that always fall on Sundays, like Father’s and Mother’s Day, or Easter Sunday.
Which Retailers Are Publicly Traded?
If you want to buy stock from a retailer, there are some good alternatives to Hobby Lobby, including the following:
- Walmart – Walmart has been publicly traded since the 1970s, under the symbol WMT
- Amazon – Amazon stock, traded under AMZN, is currently one of the most expensive to purchase, meaning it’s likely a good long-term investment
- Kroger – Kroger has also been public since the 1970s, under the symbol KR. It isn’t as expensive to buy into as other retailers
- CVS – this company has been trading since 1996, under the symbol CVS, and its stock price is steadily going up
- Walgreens – Walgreens has been around for more than 120 years, and its stock, traded under WBA, seems to be stable when looked at overtime
- Best Buy – Best Buy has been trading since 1985 under the symbol BBY
Hobby Lobby is not publicly traded. It is a privately-owned company, meaning that all its shares are controlled by a small group of people. In this case, this is the family of founder and CEO David Green.
The company isn’t owned by any company, meaning that all the profits and dividends that would otherwise go to shareholders stay in the family. Hobby Lobby does not have a stock symbol because it is not on the stock market.