Hasbro, Inc. $HAS Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd significantly reduced its investment in Hasbro, Inc. by 85.4%, now holding only 3,337 shares valued at $246,000.
• Multiple large investors, such as the Teacher Retirement System of Texas, increased their positions in Hasbro, indicating strong institutional interest in the company.
• Hasbro recently declared a quarterly dividend of $0.70 per share, reflecting a 3.7% yield, despite a negative dividend payout ratio of -68.97%.

Sumitomo Mitsui DS Asset Management Company Ltd lowered its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 85.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,337 shares of the company's stock after selling 19,464 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Hasbro were worth $246,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its position in shares of Hasbro by 3.9% in the first quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company's stock worth $1,754,000 after acquiring an additional 1,072 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Hasbro by 20.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company's stock valued at $1,036,000 after purchasing an additional 2,866 shares in the last quarter. Jump Financial LLC grew its holdings in Hasbro by 129.5% during the 1st quarter. Jump Financial LLC now owns 11,020 shares of the company's stock valued at $678,000 after purchasing an additional 6,219 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Hasbro by 60.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,597 shares of the company's stock valued at $1,021,000 after acquiring an additional 6,225 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Hasbro by 7.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,772 shares of the company's stock valued at $785,000 after acquiring an additional 931 shares during the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.

Insider Buying and Selling

In related news, insider Roberta K. Thomson sold 1,002 shares of the company's stock in a transaction dated 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. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy J. Kilpin sold 8,557 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total value of $696,882.08. Following the sale, the insider directly owned 44,301 shares of the company's stock, valued at $3,607,873.44. This represents a 16.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,359 shares of company stock worth $2,970,828 in the last 90 days. Corporate insiders own 0.85% of the company's stock.

Hasbro Stock Up 0.8%

Shares of NASDAQ:HAS opened at $74.71 on Tuesday. Hasbro, Inc. has a 52 week low of $49.00 and a 52 week high of $82.19. 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's fifty day moving average is $78.04 and its 200-day moving average is $68.87. The company has a market capitalization of $10.48 billion, a PE ratio of -18.40, a P/E/G ratio of 0.96 and a beta of 0.59.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $891.82 million. During the same quarter in the previous year, the company earned $1.22 EPS. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts predict that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 20th. This represents a $2.80 annualized dividend and a yield of 3.7%. Hasbro's dividend payout ratio is -68.97%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Roth Capital raised their price target on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $66.00 to $85.00 in a research note on Monday, June 30th. Monness Crespi & Hardt raised their target price on shares of Hasbro from $80.00 to $90.00 in a report on Wednesday, September 17th. JPMorgan Chase & Co. raised their price target on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Bank of America lifted their target price on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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