Hsbc Holdings PLC Has $36.42 Million Stake in Hasbro, Inc. $HAS

Key Points

• HSBC Holdings PLC cut its stake in Hasbro by 10.9% in the first quarter, selling 47,557 shares and ending with 390,582 shares valued at about $36.4 million.
• Hasbro posted better-than-expected quarterly results, reporting $1.47 EPS versus the $1.20 estimate and revenue of $1.0 billion, up 12.7% year over year.
• Analysts remain generally positive on the stock, with an average rating of “Moderate Buy” and an average price target of $109.71, even as several firms trimmed their targets recently.

Hsbc Holdings PLC lowered its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,582 shares of the company's stock after selling 47,557 shares during the quarter. Hsbc Holdings PLC owned 0.28% of Hasbro worth $36,417,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new stake in Hasbro in the second quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Hasbro during the 4th quarter worth about $27,000. MUFG Securities EMEA plc bought a new position in shares of Hasbro during the 2nd quarter worth about $28,000. Wexford Capital LP acquired a new stake in shares of Hasbro in the 3rd quarter valued at about $37,000. Finally, Park National Corp OH bought a new stake in Hasbro in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 91.83% of the company's stock.

Hasbro Price Performance

HAS stock opened at $81.59 on Tuesday. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65. The business has a 50-day simple moving average of $84.73 and a two-hundred day simple moving average of $90.24. The company has a market capitalization of $11.54 billion, a P/E ratio of -49.15, a price-to-earnings-growth ratio of 2.02 and a beta of 0.49. Hasbro, Inc. has a 52-week low of $69.50 and a 52-week high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.20 by $0.27. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $969.20 million. During the same period in the prior year, the business posted $1.04 earnings per share. The company's quarterly revenue was up 12.7% compared to the same quarter last year. Research analysts expect that Hasbro, Inc. will post 6.04 EPS for the current fiscal year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Monday, June 1st were issued a dividend of $0.70 per share. The ex-dividend date was Monday, June 1st. This represents a $2.80 annualized dividend and a yield of 3.4%. Hasbro's dividend payout ratio is -168.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HAS shares. Jefferies Financial Group dropped their price target on Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday. Wall Street Zen downgraded Hasbro from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Roth Capital lowered their target price on Hasbro from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, July 14th. BNP Paribas Exane cut their target price on Hasbro from $117.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, July 15th. Finally, Wells Fargo & Company reduced their price target on shares of Hasbro from $92.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $109.71.

Hasbro Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company's brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.

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