Assenagon Asset Management S.A. trimmed its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 22.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 566,415 shares of the company's stock after selling 160,992 shares during the period. Assenagon Asset Management S.A. owned 0.40% of Hasbro worth $46,780,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of HAS. 180 Wealth Advisors LLC increased its holdings in shares of Hasbro by 249.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 12,261 shares of the company's stock valued at $1,013,000 after acquiring an additional 8,754 shares during the last quarter. Marathon Mission Inc. boosted its position in Hasbro by 1.4% during the second quarter. Marathon Mission Inc. now owns 9,152 shares of the company's stock worth $756,000 after purchasing an additional 128 shares during the period. NewEdge Advisors LLC boosted its position in Hasbro by 102.2% during the first quarter. NewEdge Advisors LLC now owns 68,498 shares of the company's stock worth $6,411,000 after purchasing an additional 34,623 shares during the period. Kentucky Retirement Systems acquired a new position in Hasbro during the first quarter valued at approximately $892,000. Finally, Oddo BHF Asset Management Sas raised its position in shares of Hasbro by 3.0% in the first quarter. Oddo BHF Asset Management Sas now owns 14,519 shares of the company's stock valued at $1,359,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 91.83% of the company's stock.
Analysts Set New Price Targets
HAS has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Hasbro from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. Bank of America cut their target price on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Wall Street Zen cut shares of Hasbro from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company cut their price objective on Hasbro from $92.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 9th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $109.07.
Get Our Latest Analysis on HAS
Insider Activity at Hasbro
In related news, CFO Gina M. Goetter sold 8,265 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $93.96, for a total value of $776,579.40. Following the completion of the sale, the chief financial officer owned 79,839 shares of the company's stock, valued at $7,501,672.44. This trade represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Timothy J. Kilpin sold 20,000 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total value of $1,862,400.00. Following the transaction, the insider directly owned 54,229 shares in the company, valued at approximately $5,049,804.48. This represents a 26.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 42,451 shares of company stock valued at $3,987,379 in the last three months. Corporate insiders own 0.71% of the company's stock.
Hasbro Stock Up 2.0%
Shares of HAS opened at $93.52 on Friday. The company has a 50-day simple moving average of $84.93 and a 200-day simple moving average of $90.80. The firm has a market capitalization of $13.19 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.72 and a beta of 0.47. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. Hasbro, Inc. has a 52 week low of $69.50 and a 52 week high of $106.98.
Hasbro (NASDAQ:HAS - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro's quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the business earned $1.30 earnings per share. On average, equities research analysts expect that Hasbro, Inc. will post 6.13 earnings per share for the current year.
Hasbro Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro's dividend payout ratio (DPR) is currently 50.36%.
About Hasbro
(
Free Report)
Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.
The company's brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.
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