CM Management LLC Sells 10,000 Shares of Hasbro, Inc. (NASDAQ:HAS)

Key Points

• CM Management LLC has reduced its stake in Hasbro, Inc. by 50%, now holding 10,000 shares valued at $615,000.
• Hasbro reported an EPS of $1.30 for the last quarter, exceeding analysts' expectations of $0.78, though revenue decreased by 1.5% year-over-year.
• The firm declared a quarterly dividend of $0.70 per share, which will be paid on September 3rd, representing an annualized yield of 3.6%.

CM Management LLC lessened its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 50.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company's stock after selling 10,000 shares during the period. CM Management LLC's holdings in Hasbro were worth $615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HAS. Kovitz Investment Group Partners LLC lifted its holdings in Hasbro by 313.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,200,860 shares of the company's stock valued at $178,960,000 after purchasing an additional 2,427,299 shares during the last quarter. Invesco Ltd. grew its stake in Hasbro by 28.5% during the fourth quarter. Invesco Ltd. now owns 3,159,524 shares of the company's stock worth $176,649,000 after buying an additional 701,660 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Hasbro by 23.7% during the fourth quarter. Marshall Wace LLP now owns 2,643,381 shares of the company's stock worth $147,791,000 after buying an additional 507,054 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Hasbro in the 4th quarter worth approximately $23,623,000. Finally, Valley Wealth Managers Inc. bought a new stake in Hasbro during the 1st quarter worth approximately $25,381,000. Institutional investors own 91.83% of the company's stock.

Analyst Ratings Changes

HAS has been the subject of a number of recent analyst reports. Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. raised their target price on Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley upped their price target on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Monness Crespi & Hardt raised their price objective on shares of Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $85.00 in a research note on Monday, June 30th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.27.

Hasbro Trading Up 0.2%

NASDAQ HAS traded up $0.14 during trading hours on Friday, hitting $77.49. The company's stock had a trading volume of 2,116,432 shares, compared to its average volume of 2,458,307. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $78.83. The firm has a market capitalization of $10.87 billion, a P/E ratio of -19.09, a PEG ratio of 1.02 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.66 and a debt-to-equity ratio of 12.31. The stock has a fifty day moving average of $73.34 and a 200 day moving average of $65.01.

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

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Hasbro's dividend payout ratio (DPR) is -68.97%.

About Hasbro

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.