Brandywine Global Investment Management LLC Trims Stock Position in Hasbro, Inc. $HAS

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in Hasbro by 5.4%, holding 79,914 shares worth approximately $4.91 million.
• Hasbro reported earnings of $1.30 per share for its last quarter, exceeding expectations, with revenues of $980.80 million, down 1.5% year-over-year.
• The company announced a quarterly dividend of $0.70, representing a 3.5% yield, with a payout ratio of -68.97% currently.

Brandywine Global Investment Management LLC trimmed its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,914 shares of the company's stock after selling 4,550 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.06% of Hasbro worth $4,914,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Commerce Bank lifted its holdings in shares of Hasbro by 1.2% in the 4th quarter. Commerce Bank now owns 14,540 shares of the company's stock worth $813,000 after acquiring an additional 171 shares during the last quarter. Itau Unibanco Holding S.A. raised 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. Atlantic Edge Private Wealth Management LLC lifted its stake in Hasbro by 21.6% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock worth $64,000 after purchasing an additional 186 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Hasbro by 16.2% during the first quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock worth $91,000 after buying an additional 205 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Hasbro by 0.9% in the first quarter. Amalgamated Bank now owns 27,783 shares of the company's stock valued at $1,708,000 after buying an additional 247 shares in the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Stock Up 2.9%

Shares of HAS stock traded up $2.31 during trading hours on Friday, reaching $81.72. 595,771 shares of the stock were exchanged, compared to its average volume of 2,040,399. The business's fifty day moving average is $75.65 and its two-hundred day moving average is $66.37. The firm has a market capitalization of $11.46 billion, a P/E ratio of -20.12, a P/E/G ratio of 1.03 and a beta of 0.60. Hasbro, Inc. has a 12-month low of $49.00 and a 12-month high of $81.97. 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 posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.78 by $0.52. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. 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 business posted $1.22 EPS. The firm's revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

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 $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Hasbro's dividend payout ratio is -68.97%.

Insiders Place Their Bets

In other Hasbro news, insider Roberta K. Thomson sold 1,002 shares of Hasbro stock in a transaction dated 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 sale, the insider directly owned 51,301 shares of the company's stock, valued at $4,094,332.81. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HAS. Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. DA Davidson increased their price target on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Roth Capital lifted their price objective on shares of Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Monness Crespi & Hardt upped their target price on shares of Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, UBS Group raised their price target on shares of Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Hasbro presently has an average rating of "Moderate Buy" and a consensus price target of $86.42.

About Hasbro

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.