9,928 Hasbro, Inc. $HAS Shares Sold by AIA Group Ltd

Key Points

• AIA Group cut its Hasbro stake by 19.7%, selling 9,928 shares and retaining 40,457 shares worth about $3.55 million. Institutional investors collectively own 91.83% of the company.
• Hasbro reported quarterly EPS of $2.90, beating estimates of $1.86, while revenue of $1.60 billion exceeded forecasts and rose 15% year over year.
• The company declared a quarterly dividend of $0.70 per share, equivalent to an annualized yield of about 2.3%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $114.93.

AIA Group Ltd decreased its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 19.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,457 shares of the company's stock after selling 9,928 shares during the quarter. AIA Group Ltd's holdings in Hasbro were worth $3,547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Hasbro during the 2nd quarter valued at about $2,204,689,000. Bank of America Corp DE bought a new stake in Hasbro during the second quarter worth approximately $289,258,000. Amundi boosted its position in Hasbro by 21.1% during the first quarter. Amundi now owns 1,699,565 shares of the company's stock worth $159,079,000 after purchasing an additional 296,277 shares during the period. Bank of New York Mellon Corp acquired a new position in Hasbro during the second quarter valued at approximately $130,731,000. Finally, Epoch Investment Partners Inc. grew its holdings in Hasbro by 1.0% during the first quarter. Epoch Investment Partners Inc. now owns 1,174,077 shares of the company's stock valued at $109,894,000 after purchasing an additional 12,182 shares during the last quarter. Institutional investors own 91.83% of the company's stock.

Hasbro Price Performance

Shares of Hasbro stock opened at $121.58 on Thursday. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.40 and a quick ratio of 1.24. Hasbro, Inc. has a fifty-two week low of $74.78 and a fifty-two week high of $122.51. The firm has a fifty day moving average price of $97.82 and a two-hundred day moving average price of $92.85. The company has a market cap of $17.00 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.53 and a beta of 0.36.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $1.04. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hasbro had a net margin of 18.44% and a return on equity of 140.60%. The business's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 EPS. Analysts expect that Hasbro, Inc. will post 6.69 EPS for the current year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, November 18th. Hasbro's payout ratio is currently 41.85%.

Analyst Ratings Changes

A number of analysts have recently weighed in on HAS shares. JPMorgan Chase & Co. reduced their price objective on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Zacks Research upgraded shares of Hasbro from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 22nd. Wells Fargo & Company upped their price target on shares of Hasbro from $90.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, October 21st. UBS Group raised their price target on Hasbro from $120.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, October 28th. Finally, Roth Capital reiterated a "buy" rating on shares of Hasbro in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.93.

Insider Buying and Selling at Hasbro

In other news, Director Elizabeth Hamren sold 1,975 shares of Hasbro stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $92.84, for a total transaction of $183,359.00. Following the sale, the director owned 9,896 shares of the company's stock, valued at approximately $918,744.64. This trade represents a 16.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Holly Barbacovi sold 5,057 shares of the firm's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $94.20, for a total transaction of $476,369.40. Following the transaction, the insider owned 37,486 shares of the company's stock, valued at approximately $3,531,181.20. This represents a 11.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,294 shares of company stock valued at $1,523,834 in the last quarter. Corporate insiders own 0.71% of the company's stock.

Hasbro News Summary

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Maya Hawke has joined Legendary and Hasbro’s live-action Magic: The Gathering movie in a major role. The casting raises the project’s profile and could support Hasbro’s efforts to extend a key game franchise into entertainment and licensing, but the film is still a longer-term opportunity. Maya Hawke Boards ‘Magic: The Gathering’ Movie From Legendary And Hasbro
• Positive Sentiment: Zacks added HAS to its Rank #1 (Strong Buy) growth-stock list, reflecting a favorable quantitative view that may support investor sentiment. Best Growth Stocks to Buy for November 3rd
• Neutral Sentiment: CFO Gina Goetter sold 7,262 shares for about $864,000 under a pre-arranged Rule 10b5-1 plan. The planned nature of the sale and her remaining 72,577 shares temper the signal, though insider selling can draw investor attention. SEC filing

Hasbro Profile

Hasbro, Inc is a global branded entertainment company that develops and markets toys, games, entertainment experiences and consumer products. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Transformers, Nerf, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through a range of channels, including retail, e-commerce, digital gaming, entertainment content and licensing. Hasbro also works with third-party partners to extend its brands into film and television, apparel, publishing and other consumer products.

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