Hasbro, Inc. (NASDAQ:HAS) Stock Position Trimmed by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in Hasbro, Inc. by 75.4% during the first quarter, resulting in ownership of approximately 788,957 shares worth around $48.5 million.
• Hasbro reported $1.30 earnings per share (EPS) for the most recent quarter, surpassing analysts' expectations of $0.78, although revenue decreased by 1.5% compared to the previous year.
• The company declared a quarterly dividend of $0.70 per share, which translates to an annualized yield of 3.5%, with an ex-dividend date of August 20th.

Kovitz Investment Group Partners LLC cut its position in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 788,957 shares of the company's stock after selling 2,411,903 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.56% of Hasbro worth $48,513,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new stake in Hasbro in the 4th quarter valued at about $25,000. Sentry Investment Management LLC bought a new stake in Hasbro in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its position in Hasbro by 130.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after purchasing an additional 269 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Hasbro by 32.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock valued at $41,000 after purchasing an additional 178 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Hasbro during the 4th quarter worth about $43,000. 91.83% of the stock is currently owned by institutional investors.

Hasbro Stock Performance

Shares of HAS opened at $80.32 on Thursday. The firm's 50 day moving average is $74.13 and its 200-day moving average is $65.45. The stock has a market capitalization of $11.26 billion, a P/E ratio of -19.78, a P/E/G ratio of 1.03 and a beta of 0.60. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. Hasbro, Inc. has a 12-month low of $49.00 and a 12-month high of $80.42.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. During the same quarter in the previous year, the business earned $1.22 earnings per share. The firm's revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Hasbro's payout ratio is currently -68.97%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. UBS Group boosted their price target on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday. DA Davidson boosted their price target on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Bank of America boosted their price target on shares of Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group upgraded shares of Hasbro from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $66.00 to $85.00 in a research report on Monday, June 30th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Hasbro currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.42.

Hasbro Company 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.

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