Machina Capital S.A.S. Cuts Position in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Machina Capital S.A.S. reduced its position in Hasbro, Inc. by 65.8% during the first quarter, leaving it with 8,457 shares valued at approximately $520,000.
• Several hedge funds increased their stakes in Hasbro, with Warmfield Asset Management and Universal Beteiligungs und Servicegesellschaft significantly boosting their holdings during the same period.
• Wall Street analysts have a generally positive outlook on Hasbro, with multiple firms raising their price targets, ranging from $80.00 to $94.00, and most rating the stock as a "buy."

Machina Capital S.A.S. lowered its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 65.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,457 shares of the company's stock after selling 16,267 shares during the quarter. Machina Capital S.A.S.'s holdings in Hasbro were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HAS. Wakefield Asset Management LLLP bought a new position in shares of Hasbro in the first quarter worth about $461,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Hasbro by 3.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 146,915 shares of the company's stock worth $9,034,000 after acquiring an additional 5,149 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Hasbro in the first quarter worth about $237,000. 4WEALTH Advisors Inc. bought a new position in shares of Hasbro in the first quarter worth about $254,000. Finally, Wealth Alliance LLC bought a new position in shares of Hasbro in the first quarter worth about $207,000. Hedge funds and other institutional investors own 91.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley increased their price target on Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday. The Goldman Sachs Group raised Hasbro from a "neutral" rating to a "buy" rating and increased their price target for the company from $66.00 to $85.00 in a research note on Monday, June 30th. DA Davidson increased their price target on Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $86.27.

Hasbro Trading Down 0.1%

Shares of NASDAQ HAS traded down $0.07 during midday trading on Friday, hitting $74.98. The company's stock had a trading volume of 2,541,981 shares, compared to its average volume of 2,643,605. The business's 50 day moving average is $71.42 and its two-hundred day moving average is $63.69. The firm has a market cap of $10.51 billion, a P/E ratio of -18.47, a price-to-earnings-growth ratio of 1.06 and a beta of 0.59. Hasbro, Inc. has a 12-month low of $49.00 and a 12-month high of $78.83. The company has a current ratio of 1.66, a quick ratio of 1.40 and a debt-to-equity ratio of 12.31.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.78 by $0.52. The company had revenue of $980.80 million for the quarter, compared to the consensus estimate of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%. Hasbro's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. As a group, equities research analysts expect that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.80 annualized dividend and a yield of 3.73%. Hasbro's payout ratio is currently -68.97%.

About Hasbro

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.