California State Teachers Retirement System Cuts Position in Hasbro, Inc. $HAS

California State Teachers Retirement System lessened its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,817 shares of the company's stock after selling 2,049 shares during the quarter. California State Teachers Retirement System owned 0.11% of Hasbro worth $12,786,336 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nilsine Partners LLC boosted its stake in Hasbro by 1.2% during the 2nd quarter. Nilsine Partners LLC now owns 31,340 shares of the company's stock valued at $2,588,000 after purchasing an additional 363 shares in the last quarter. AlphaGrep UK Ltd acquired a new stake in shares of Hasbro in the 2nd quarter valued at approximately $370,000. NEOS Investment Management LLC raised its position in shares of Hasbro by 13.2% in the second quarter. NEOS Investment Management LLC now owns 21,529 shares of the company's stock valued at $1,778,000 after buying an additional 2,511 shares in the last quarter. AXQ Capital LP acquired a new position in Hasbro in the 2nd quarter valued at approximately $1,834,000. Finally, Strengthening Families & Communities LLC boosted its holdings in Hasbro by 6.0% in the second quarter. Strengthening Families & Communities LLC now owns 19,766 shares of the company's stock worth $1,632,000 after acquiring an additional 1,116 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Hasbro from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 20th. Jefferies Financial Group lowered their price objective on Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Weiss Ratings upgraded Hasbro from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Friday, July 31st. DA Davidson lowered their target price on Hasbro from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, July 22nd. Finally, Citigroup restated a "buy" rating on shares of Hasbro in a research note on Thursday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hasbro has a consensus rating of "Moderate Buy" and an average target price of $109.43.

Hasbro Trading Down 0.2%

NASDAQ:HAS traded down $0.20 during trading hours on Tuesday, hitting $90.56. 483,560 shares of the company were exchanged, compared to its average volume of 1,919,927. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. Hasbro, Inc. has a one year low of $69.50 and a one year high of $106.98. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.58 and a beta of 0.47. The company has a fifty day simple moving average of $90.27 and a 200 day simple moving average of $90.45.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. During the same period in the previous year, the firm posted $1.30 EPS. The firm's revenue was up 16.2% compared to the same quarter last year. Sell-side analysts expect that Hasbro, Inc. will post 6.16 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 19th. Hasbro's dividend payout ratio is 50.36%.

Insider Buying and Selling

In other Hasbro news, insider Timothy Kilpin sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the sale, the insider directly owned 54,229 shares of the company's stock, valued at $5,049,804.48. This represents a 26.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Holly Barbacovi sold 5,057 shares of Hasbro stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.20, for a total transaction of $476,369.40. Following the transaction, the insider directly owned 37,486 shares in the company, valued at approximately $3,531,181.20. This trade represents a 11.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 50,472 shares of company stock worth $4,736,533. Corporate insiders own 0.71% of the company's stock.

Hasbro Profile

Hasbro, Inc is a global play and entertainment company that develops, markets and licenses toys, games and related entertainment experiences. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Magic: The Gathering and Dungeons & Dragons. The company serves consumers through retail, e-commerce, digital gaming, licensing and entertainment channels.

Hasbro's business includes consumer products, tabletop and digital gaming, and brand licensing.

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