Cooke & Bieler LP Sells 82,321 Shares of Hasbro, Inc. $HAS

Key Points

• Cooke & Bieler LP trimmed its Hasbro stake by 4.1% in the fourth quarter, selling 82,321 shares and leaving it with 1,902,718 shares valued at about $156 million.
• Hasbro reported better-than-expected quarterly results, with EPS of $1.47 versus the $1.20 estimate and revenue of $1.0 billion, up 12.7% year over year.
• Analysts remain largely bullish on the stock, with a Moderate Buy consensus and an average price target of $113.64, while Hasbro also pays a quarterly dividend of $0.70 per share.

Cooke & Bieler LP reduced its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,902,718 shares of the company's stock after selling 82,321 shares during the period. Hasbro makes up 1.6% of Cooke & Bieler LP's portfolio, making the stock its 17th biggest position. Cooke & Bieler LP owned approximately 1.36% of Hasbro worth $156,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of HAS. Brighton Jones LLC purchased a new position in Hasbro in the fourth quarter worth about $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hasbro by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company's stock valued at $1,018,000 after acquiring an additional 1,753 shares in the last quarter. Empowered Funds LLC raised its holdings in Hasbro by 95.8% in the 1st quarter. Empowered Funds LLC now owns 13,187 shares of the company's stock worth $811,000 after acquiring an additional 6,451 shares during the last quarter. Woodline Partners LP lifted its position in Hasbro by 40.7% in the 1st quarter. Woodline Partners LP now owns 11,078 shares of the company's stock valued at $681,000 after acquiring an additional 3,203 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in Hasbro in the 1st quarter valued at approximately $292,000. Hedge funds and other institutional investors own 91.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group lifted their target price on Hasbro from $99.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Morgan Stanley increased their price objective on Hasbro from $122.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Monness Crespi & Hardt lifted their price objective on Hasbro from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Citigroup decreased their target price on Hasbro from $118.00 to $114.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Finally, Wolfe Research upped their target price on shares of Hasbro from $90.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $113.64.

Hasbro Stock Performance

Hasbro stock opened at $88.10 on Tuesday. Hasbro, Inc. has a 52-week low of $64.74 and a 52-week high of $106.98. The company has a market cap of $12.47 billion, a P/E ratio of -53.07, a P/E/G ratio of 2.52 and a beta of 0.52. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 4.59. The business has a 50-day simple moving average of $92.97 and a two-hundred day simple moving average of $89.58.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.27. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. Analysts predict that Hasbro, Inc. will post 5.92 EPS for the current year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Monday, June 1st will be given a $0.70 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.80 annualized dividend and a yield of 3.2%. Hasbro's dividend payout ratio (DPR) is presently -168.67%.

Insider Buying and Selling at Hasbro

In other news, CEO Christian P. Cocks sold 196,411 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $100.33, for a total transaction of $19,705,915.63. Following the completion of the sale, the chief executive officer owned 303,310 shares of the company's stock, valued at $30,431,092.30. The trade was a 39.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Hasbro Profile

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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