Redwood Investment Management LLC Sells 4,810 Shares of Hasbro, Inc. $HAS

Key Points

• Redwood Investment Management LLC has decreased its holdings in Hasbro, Inc. by 15.5%, now owning 26,272 shares worth $1.6 million after selling 4,810 shares in the first quarter.
• Hasbro recently reported $1.30 earnings per share for the latest quarter, significantly surpassing analysts' expectations of $0.78, while also generating revenue of $980.80 million.
• The company has declared a quarterly dividend of $0.70, indicating a stable dividend yield of 3.4%, with an upcoming payment date set for September 3rd.

Redwood Investment Management LLC cut its stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 15.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,272 shares of the company's stock after selling 4,810 shares during the quarter. Redwood Investment Management LLC's holdings in Hasbro were worth $1,615,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. grew its stake in shares of 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 acquiring an additional 178 shares during the period. Atlantic Edge Private Wealth Management LLC grew its stake in shares of 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 acquiring an additional 186 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Hasbro by 16.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock valued at $91,000 after acquiring an additional 205 shares during the period. Amalgamated Bank grew its stake in shares of Hasbro by 0.9% during the 1st quarter. Amalgamated Bank now owns 27,783 shares of the company's stock valued at $1,708,000 after acquiring an additional 247 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Hasbro by 130.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after acquiring an additional 269 shares during the period. 91.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HAS shares. JPMorgan Chase & Co. boosted their price objective on Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group upgraded shares of Hasbro from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $66.00 to $85.00 in a research report on Monday, June 30th. Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. DA Davidson lifted their price objective on shares of Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley lifted 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. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.42.

Insider Activity

In related news, insider Timothy J. Kilpin sold 8,557 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total value of $696,882.08. Following the completion of the sale, the insider directly owned 44,301 shares in the company, valued at $3,607,873.44. This trade represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christian P. Cocks sold 27,800 shares of the firm's 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 sale, the chief executive officer owned 249,861 shares of the company's stock, valued at approximately $19,719,030.12. This represents a 10.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,359 shares of company stock worth $2,970,828. 0.85% of the stock is currently owned by insiders.

Hasbro Price Performance

Shares of NASDAQ HAS traded down $0.43 during midday trading on Friday, reaching $81.17. 991,055 shares of the stock traded hands, compared to its average volume of 1,722,827. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. The stock has a market capitalization of $11.38 billion, a PE ratio of -19.99, a P/E/G ratio of 1.05 and a beta of 0.60. Hasbro, Inc. has a one year low of $49.00 and a one year high of $82.19. The company's 50 day moving average is $77.24 and its 200 day moving average is $67.35.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.52. The firm had revenue of $980.80 million during the quarter, compared to the consensus estimate of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 EPS. On average, equities research analysts anticipate that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Wednesday, August 20th. Hasbro's dividend payout ratio is currently -68.97%.

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.