Hasbro, Inc. $HAS Stock Sold by Artemis Investment Management LLP

Key Points

• Artemis Investment Management reduced its Hasbro stake by 2.4%, selling 18,294 shares and retaining 739,849 shares valued at approximately $64.9 million. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro shares rose 1.6% to $92.19, while the company’s latest quarterly results exceeded expectations with $1.28 in earnings per share and $1.14 billion in revenue, up 16.2% year over year.
• Hasbro pays a quarterly dividend of $0.70, equivalent to a 3.0% yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $109.50.

Artemis Investment Management LLP trimmed its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 739,849 shares of the company's stock after selling 18,294 shares during the quarter. Artemis Investment Management LLP owned about 0.52% of Hasbro worth $64,870,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of HAS. BlackRock Inc. purchased a new stake in shares of Hasbro during the 2nd quarter valued at $2,204,689,000. Bank of America Corp DE purchased a new position in shares of Hasbro in the 2nd quarter worth about $289,258,000. Amundi increased its position in shares of Hasbro by 21.1% during the 1st quarter. Amundi now owns 1,699,565 shares of the company's stock valued at $159,079,000 after purchasing an additional 296,277 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Hasbro during the 2nd quarter valued at about $130,731,000. Finally, Epoch Investment Partners Inc. lifted its position in Hasbro by 1.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,174,077 shares of the company's stock worth $109,894,000 after buying an additional 12,182 shares during the last quarter. Institutional investors own 91.83% of the company's stock.

Hasbro Trading Up 1.6%

NASDAQ:HAS traded up $1.45 during mid-day trading on Thursday, reaching $92.19. 364,493 shares of the company's stock traded hands, compared to its average volume of 1,918,390. The company has a 50 day moving average price of $91.91 and a 200-day moving average price of $89.64. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.57 and a beta of 0.45. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46. Hasbro, Inc. has a 12-month low of $69.50 and a 12-month high of $106.98.

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

Hasbro Announces Dividend

The company also recently announced 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 3.0%. The ex-dividend date was Wednesday, August 19th. Hasbro's dividend payout ratio is currently 50.36%.

Insider Activity

In other Hasbro news, CFO Gina M. Goetter sold 8,265 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $93.96, for a total transaction of $776,579.40. Following the sale, the chief financial officer directly owned 79,839 shares in the company, valued at approximately $7,501,672.44. This trade represents a 9.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total value 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 approximately $5,049,804.48. The trade was a 26.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 50,472 shares of company stock valued at $4,736,533. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HAS. Citigroup reaffirmed a "buy" rating on shares of Hasbro in a research note on Thursday, July 23rd. Jefferies Financial Group lowered their price objective on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Argus increased their target price on shares of Hasbro from $90.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Bank of America decreased their target price 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, DA Davidson reduced their price objective on Hasbro from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $109.50.

Hasbro Company Profile

Hasbro, Inc is a global toy and games company that develops, licenses and markets branded entertainment products. Its portfolio includes toys, board games, trading cards, role-playing games and digital gaming experiences sold under brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through retailers, e-commerce platforms and licensing partners in the United States and international markets.

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