Goldman Sachs Group Inc. Reduces Stake in Hasbro, Inc. $HAS

Key Points

• Goldman Sachs Group Inc. reduced its stake in Hasbro, Inc. by 28.4% during Q1, selling 748,117 shares, and now owns approximately 1.34% of the company, valued at $115.86 million.
• Hasbro reported a 1.5% decrease in revenue year-over-year for Q2, with an EPS of $1.30, surpassing analyst estimates.
• The company declared a quarterly dividend of $0.70 per share, marking an annualized dividend yield of 3.5%.

Goldman Sachs Group Inc. lowered its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 28.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,884,178 shares of the company's stock after selling 748,117 shares during the period. Goldman Sachs Group Inc. owned approximately 1.34% of Hasbro worth $115,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of HAS. Nuveen LLC bought a new stake in shares of Hasbro in the first quarter valued at approximately $30,347,000. Valley Wealth Managers Inc. bought a new stake in shares of Hasbro in the first quarter valued at approximately $25,381,000. Royal Bank of Canada raised its position in shares of Hasbro by 67.7% in the fourth quarter. Royal Bank of Canada now owns 868,516 shares of the company's stock valued at $48,560,000 after purchasing an additional 350,596 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Hasbro by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,287,647 shares of the company's stock valued at $140,652,000 after purchasing an additional 227,477 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Hasbro by 6,871.6% in the first quarter. GAMMA Investing LLC now owns 217,306 shares of the company's stock valued at $133,620,000 after purchasing an additional 214,189 shares during the period. Institutional investors own 91.83% of the company's stock.

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $79.95 on Friday. The company's fifty day moving average price is $78.21 and its 200-day moving average price is $68.32. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of -19.69, a PEG ratio of 1.00 and a beta of 0.59. Hasbro, Inc. has a one year low of $49.00 and a one year high of $82.19. 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 (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.52. The firm had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Hasbro's dividend payout ratio is presently -68.97%.

Insider Transactions at Hasbro

In other news, CEO Christian P. Cocks sold 27,800 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $78.92, for a total value 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. This represents a 10.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Roberta K. Thomson sold 1,002 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $79.81, for a total transaction of $79,969.62. Following the completion of the transaction, the insider directly owned 51,301 shares in the company, valued at $4,094,332.81. The trade was a 1.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,359 shares of company stock valued at $2,970,828 in the last quarter. Insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

HAS has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. DA Davidson upped 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. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and upped their target price for the stock from $66.00 to $85.00 in a report on Monday, June 30th. Finally, UBS Group upped their target price on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.42.

Hasbro Company 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.

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