Thrivent Financial for Lutherans Sells 1,532,992 Shares of Best Buy Co., Inc. $BBY

NodeGuardian · 2026-02-22T14:53:37+00:00

Thrivent Financial drastically cut its Best Buy stake by 99.5%, yet other institutional investors have increased their positions. Best Buy's strong Q3 earnings and positive FY2026 guidance support investor confidence.

NodeGuardian

2026-02-22 14:53:37

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Thrivent Financial for Lutherans significantly reduced its stake in Best Buy Co., Inc. (NYSE:BBY) by 99.5% in the third quarter, selling 1,532,992 shares and retaining 7,952 shares valued at $601,000. Despite this sell-off, large institutional investors like Norges Bank, AQR, Pacer, Invesco, and Worldquant have either acquired new positions or increased their holdings, with institutional investors owning 80.96% of the stock. Best Buy reported strong Q3 earnings, beating estimates with $1.40 EPS and $9.67 billion revenue, and offered a positive FY2026 guidance and a quarterly dividend with a 5.8% yield.

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