Hasbro, Inc. $HAS Shares Sold by Kingdon Capital Management L.L.C.

Key Points

• Kingdon Capital Management L.L.C. has reduced its stake in Hasbro by 17.7%, owning approximately $11.13 million worth of the company's stock following the sale of 39,000 shares.
• Multiple analysts have recently upgraded Hasbro's rating, with price targets increasing; Bank of America and Citigroup, for instance, raised their targets from $85.00 to $90.00 and $79.00 to $91.00, respectively, highlighting a consensus rating of "Moderate Buy."
• Hasbro reported strong earnings in its last quarter, generating $980.80 million in revenue and exceeding earnings per share estimates by $0.52.

Kingdon Capital Management L.L.C. decreased its position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 181,000 shares of the company's stock after selling 39,000 shares during the quarter. Hasbro makes up about 1.2% of Kingdon Capital Management L.L.C.'s holdings, making the stock its 16th largest position. Kingdon Capital Management L.L.C. owned 0.13% of Hasbro worth $11,130,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new stake in Hasbro in the first quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its position in Hasbro by 130.0% in the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after purchasing an additional 269 shares during the period. Itau Unibanco Holding S.A. lifted its position in Hasbro by 32.1% in the fourth 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 during the period. Allworth Financial LP lifted its position in Hasbro by 93.2% in the first quarter. Allworth Financial LP now owns 931 shares of the company's stock valued at $56,000 after purchasing an additional 449 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in Hasbro by 21.6% in the first 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 during the period. Institutional investors and hedge funds own 91.83% of the company's stock.

Hasbro Stock Down 0.9%

Shares of NASDAQ:HAS traded down $0.72 during midday trading on Wednesday, hitting $79.03. 1,605,801 shares of the company's stock traded hands, compared to its average volume of 2,015,325. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66. The company has a market cap of $11.08 billion, a PE ratio of -19.47, a P/E/G ratio of 1.05 and a beta of 0.59. The firm's fifty day moving average price is $77.59 and its two-hundred day moving average price is $67.63. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.52. The business 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 quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. On average, equities research analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors 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 annualized dividend and a dividend yield of 3.5%. Hasbro's payout ratio is presently -68.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HAS shares. Morgan Stanley raised their price objective 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. UBS Group boosted their price target on Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. The Goldman Sachs Group upgraded Hasbro from a "neutral" rating to a "buy" rating and boosted their price target for the company from $66.00 to $85.00 in a report on Monday, June 30th. Roth Capital boosted their price target on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Hasbro from $75.00 to $94.00 and gave the company an "overweight" 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $86.42.

Insider Activity at Hasbro

In related news, insider Timothy J. Kilpin sold 8,557 shares of Hasbro stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total transaction of $696,882.08. Following the transaction, the insider owned 44,301 shares in the company, valued at approximately $3,607,873.44. The trade was a 16.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Roberta K. Thomson sold 1,002 shares of Hasbro stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $79.81, for a total transaction of $79,969.62. Following the transaction, the insider 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. In the last 90 days, insiders have sold 37,359 shares of company stock worth $2,970,828. 0.85% of the stock is currently owned by corporate insiders.

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.