Hasbro, Inc. $HAS Stock Position Reduced by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. cut its Hasbro position by 62.6% in the third quarter, selling 16,916 shares and retaining 10,102 shares valued at about $886,000.
• Hasbro reported quarterly EPS of $2.90, beating the $1.86 consensus estimate, while revenue of $1.60 billion exceeded expectations and rose 15% year over year.
• Hasbro declared a quarterly dividend of $0.70 per share, equivalent to $2.80 annually and a 2.4% yield; analysts’ consensus rating was “Moderate Buy,” with a $114.93 average price target.

Asset Management One Co. Ltd. lowered its position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 62.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,102 shares of the company's stock after selling 16,916 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Hasbro were worth $886,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HAS. Hsbc Holdings PLC raised its holdings in Hasbro by 104.5% during the second quarter. Hsbc Holdings PLC now owns 798,597 shares of the company's stock valued at $66,071,000 after acquiring an additional 408,015 shares during the period. Focus Partners Advisor Solutions LLC purchased a new position in shares of Hasbro in the second quarter valued at about $758,000. NewEdge Advisors LLC boosted its stake in shares of Hasbro by 621.3% in the second quarter. NewEdge Advisors LLC now owns 494,060 shares of the company's stock worth $40,804,000 after acquiring an additional 425,562 shares during the period. Corient Private Wealth LP boosted its stake in shares of Hasbro by 48.2% in the second quarter. Corient Private Wealth LP now owns 36,521 shares of the company's stock worth $3,016,000 after acquiring an additional 11,873 shares during the period. Finally, California State Teachers Retirement System grew its position in shares of Hasbro by 24.5% during the first quarter. California State Teachers Retirement System now owns 156,866 shares of the company's stock worth $14,683,000 after purchasing an additional 30,825 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors.

Insider Activity at Hasbro

In other Hasbro news, Director Elizabeth Hamren sold 1,975 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $92.84, for a total transaction of $183,359.00. Following the completion of the transaction, the director owned 9,896 shares in the company, valued at $918,744.64. This trade represents a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Holly Barbacovi sold 5,057 shares of Hasbro stock in a transaction on Monday, August 31st. The stock was sold at an average price of $94.20, for a total transaction of $476,369.40. Following the completion of the transaction, the insider directly owned 37,486 shares of the company's stock, valued at $3,531,181.20. The trade was a 11.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,294 shares of company stock valued at $1,523,834 over the last 90 days. 0.71% of the stock is owned by corporate insiders.

Hasbro Stock Performance

NASDAQ:HAS opened at $117.97 on Wednesday. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.40 and a quick ratio of 1.24. Hasbro, Inc. has a 1 year low of $74.78 and a 1 year high of $121.04. The stock's 50 day simple moving average is $97.32 and its two-hundred day simple moving average is $92.68. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.53 and a beta of 0.36.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $1.04. The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.48 billion. Hasbro had a return on equity of 140.60% and a net margin of 18.44%. The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. As a group, equities analysts anticipate that Hasbro, Inc. will post 6.69 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.4%. Hasbro's dividend payout ratio is presently 41.85%.

Analyst Upgrades and Downgrades

HAS has been the topic of several recent analyst reports. Weiss Ratings raised Hasbro from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Jefferies Financial Group dropped their price target on Hasbro from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. BNP Paribas Exane restated an "outperform" rating and issued a $127.00 price target (up from $116.00) on shares of Hasbro in a research note on Wednesday, October 21st. Bank of America reduced their price objective on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.93.

Hasbro Company Profile

Hasbro, Inc is a global branded entertainment company that develops and markets toys, games, entertainment experiences and consumer products. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Transformers, Nerf, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through a range of channels, including retail, e-commerce, digital gaming, entertainment content and licensing. Hasbro also works with third-party partners to extend its brands into film and television, apparel, publishing and other consumer products.

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