Hasbro, Inc. $HAS Shares Sold by Expect Equity LLC

Key Points

• Expect Equity LLC reduced its stake in Hasbro, Inc. by 22.3% during the first quarter, now holding around 45,085 shares valued at approximately $2.77 million.
• Several institutional investors have made moves regarding Hasbro, with new purchases and increased positions, leading to institutional ownership of 91.83% of the stock.
• Hasbro's CEO recently sold 27,800 shares for nearly $2.19 million, representing a 10.01% decrease in his ownership, amid broader insider selling totaling $2.97 million over the past 90 days.

Expect Equity LLC cut its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 22.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,085 shares of the company's stock after selling 12,970 shares during the period. Hasbro comprises approximately 3.1% of Expect Equity LLC's holdings, making the stock its 5th largest holding. Expect Equity LLC's holdings in Hasbro were worth $2,772,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HAS. Itau Unibanco Holding S.A. increased its holdings in Hasbro by 32.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock valued at $41,000 after purchasing an additional 178 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its holdings in Hasbro by 21.6% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock valued at $64,000 after purchasing an additional 186 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Hasbro by 16.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock valued at $91,000 after buying an additional 205 shares during the period. Amalgamated Bank increased its stake in shares of Hasbro by 0.9% in the 1st quarter. Amalgamated Bank now owns 27,783 shares of the company's stock valued at $1,708,000 after buying an additional 247 shares during the period. Finally, SBI Securities Co. Ltd. increased its stake in shares of Hasbro by 130.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after buying an additional 269 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.

Hasbro Stock Performance

NASDAQ HAS traded down $0.36 during trading on Wednesday, reaching $79.40. 398,786 shares of the company's stock were exchanged, compared to its average volume of 2,007,849. The business has a 50 day moving average price of $77.59 and a 200-day moving average price of $67.63. The stock has a market capitalization of $11.13 billion, a P/E ratio of -19.58, a PEG ratio of 1.05 and a beta of 0.59. 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 fifty-two week low of $49.00 and a fifty-two week high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $891.82 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 20th. Hasbro's payout ratio is -68.97%.

Insiders Place Their Bets

In other news, CEO Christian P. Cocks sold 27,800 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $78.92, for a total value of $2,193,976.00. Following the completion of the transaction, the chief executive officer directly owned 249,861 shares in the company, valued at approximately $19,719,030.12. This represents a 10.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roberta K. Thomson sold 1,002 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $79.81, for a total value of $79,969.62. Following the completion of the sale, the insider owned 51,301 shares of the company's stock, valued at $4,094,332.81. The trade was a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,359 shares of company stock worth $2,970,828 over the last three months. Insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HAS shares. Roth Capital lifted their target price on Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley lifted their target price on Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group upgraded Hasbro from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $66.00 to $85.00 in a report on Monday, June 30th. DA Davidson lifted their target price on Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Citigroup lifted their target price on Hasbro from $79.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Hasbro currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.42.

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.