Hasbro, Inc. $HAS Stock Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Hasbro stake by 21.6% in the third quarter, selling 35,482 shares and retaining 128,791 shares valued at about $11.3 million. Institutional investors collectively own 91.83% of the stock.
• Hasbro reported quarterly earnings of $2.90 per share, beating estimates of $1.86, while revenue rose 15% year over year to $1.60 billion.
• The company declared a quarterly dividend of $0.70 per share, equivalent to a 2.3% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $114.93.

Candriam S.C.A. reduced its position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 21.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 128,791 shares of the company's stock after selling 35,482 shares during the quarter. Candriam S.C.A. owned about 0.09% of Hasbro worth $11,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HAS. BlackRock Inc. purchased a new stake in Hasbro during the second quarter valued at $2,204,689,000. Bank of America Corp DE bought a new position in Hasbro during the second quarter valued at $289,258,000. Bank of New York Mellon Corp bought a new position in Hasbro during the second quarter valued at $130,731,000. Deutsche Bank AG purchased a new position in shares of Hasbro in the 2nd quarter worth $89,467,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Hasbro in the 2nd quarter worth $66,071,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Gina Goetter sold 7,262 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $118.99, for a total value of $864,105.38. Following the sale, the chief financial officer directly owned 72,577 shares of the company's stock, valued at $8,635,937.23. This represents a 9.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Holly Barbacovi sold 5,057 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 37,486 shares of the company's stock, valued at approximately $3,531,181.20. The trade was a 11.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.71% of the company's stock.

Hasbro Stock Up 1.7%

NASDAQ HAS opened at $120.92 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.40 and a debt-to-equity ratio of 2.79. Hasbro, Inc. has a 52 week low of $74.78 and a 52 week high of $124.00. The firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.58 and a beta of 0.36. The company has a fifty day moving average of $99.32 and a two-hundred day moving average of $93.35.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $1.86 by $1.04. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hasbro had a net margin of 18.44% and a return on equity of 140.60%. The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.68 earnings per share. On average, analysts predict that Hasbro, Inc. will post 6.85 earnings per share for the current year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, November 18th. Hasbro's dividend payout ratio is presently 41.85%.

Analyst Ratings Changes

A number of research firms have recently weighed in on HAS. UBS Group boosted their target price on shares of Hasbro from $120.00 to $137.00 and gave the stock a "buy" rating in a report on Wednesday, October 28th. JPMorgan Chase & Co. lowered their price target on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Bank of America dropped their price target on Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. The Goldman Sachs Group reduced their price objective on Hasbro from $117.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, September 21st. 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Hasbro presently has a consensus rating of "Moderate Buy" and an average target price of $114.93.

Hasbro Profile

Hasbro, Inc is a global play and entertainment company that develops and sells toys, games and digital experiences, and licenses its brands for consumer products and entertainment. Its portfolio includes Transformers, Play-Doh, Nerf, Monopoly, My Little Pony, Magic: The Gathering and Dungeons & Dragons.

Founded in 1923 as Hassenfeld Brothers, the company began as a family business before expanding into toys and games. Hasbro serves consumers in markets around the world through its products, licensing partnerships and digital offerings.

Hasbro is led by Chief Executive Officer Chris Cocks, who took the role in 2022.

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