Ameriprise Financial Inc. Decreases Stock Holdings in Hasbro, Inc. $HAS

Key Points

• Ameriprise Financial Inc. has reduced its stake in Hasbro, Inc. by 8.3%, now owning approximately 1.2 million shares valued at $74.47 million.
• Several institutional investors have also increased or established their positions in Hasbro, with hedge funds owning 91.83% of the company’s stock.
• Hasbro recently announced a quarterly dividend of $0.70, resulting in an annualized yield of 3.4%, to be paid on September 3rd to shareholders of record as of August 20th.

Ameriprise Financial Inc. cut its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,211,073 shares of the company's stock after selling 109,423 shares during the period. Ameriprise Financial Inc. owned about 0.86% of Hasbro worth $74,469,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas grew its position in Hasbro by 3.9% during the 1st quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company's stock worth $1,754,000 after acquiring an additional 1,072 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Hasbro by 20.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company's stock worth $1,036,000 after purchasing an additional 2,866 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Hasbro by 60.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,597 shares of the company's stock worth $1,021,000 after purchasing an additional 6,225 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Hasbro by 7.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,772 shares of the company's stock worth $785,000 after purchasing an additional 931 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Hasbro during the 1st quarter worth $306,000. 91.83% of the stock is currently owned by institutional investors.

Hasbro Stock Down 0.5%

Shares of NASDAQ:HAS traded down $0.43 during trading on Monday, reaching $81.17. 991,055 shares of the stock were exchanged, compared to its average volume of 1,665,915. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19. The stock has a fifty day moving average of $77.45 and a two-hundred day moving average of $67.54. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of -19.99, a price-to-earnings-growth ratio of 1.05 and a beta of 0.59.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.52. The company had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.Hasbro's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. Research analysts anticipate that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.4%. Hasbro's payout ratio is presently -68.97%.

Analysts Set New Price Targets

HAS has been the subject of a number of analyst reports. DA Davidson lifted their target price on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. increased their price objective on Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. UBS Group boosted their target price on Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group raised Hasbro from a "neutral" rating to a "buy" rating and increased their price target for the stock from $66.00 to $85.00 in a research report on Monday, June 30th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $86.42.

Insider Activity at Hasbro

In related news, CEO Christian P. Cocks sold 27,800 shares of Hasbro stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the transaction, the chief executive officer owned 249,861 shares of the company's stock, valued at $19,719,030.12. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy J. Kilpin sold 8,557 shares of Hasbro stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total value of $696,882.08. Following the transaction, the insider directly owned 44,301 shares in the company, valued at approximately $3,607,873.44. The trade was a 16.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,359 shares of company stock valued at $2,970,828 over the last 90 days. Insiders own 0.85% of the company's stock.

Hasbro Profile

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.