Massachusetts Financial Services Co. MA Lowers Position in Hasbro, Inc. $HAS

Key Points

• Massachusetts Financial Services cut its Hasbro stake by 27.7% in Q4 to 355,468 shares (about $29.15M), and insiders have sold 413,342 shares (~$42.24M) over the past 90 days, indicating notable institutional and insider selling.
• Hasbro beat quarterly estimates, reporting $1.51 EPS vs. $0.99 expected and $1.45B revenue (up 31.3% YoY); analysts have raised price targets and the consensus target is $112.86 with a "Moderate Buy" rating.
• Dividend: Hasbro declared a $0.70 quarterly dividend (annualized $2.80), implying a roughly 3.0% yield.

Massachusetts Financial Services Co. MA reduced its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 27.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 355,468 shares of the company's stock after selling 135,854 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.25% of Hasbro worth $29,148,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HAS. Brighton Jones LLC purchased a new stake in Hasbro in the 4th quarter valued at $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hasbro by 11.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company's stock valued at $1,018,000 after buying an additional 1,753 shares during the last quarter. Empowered Funds LLC raised its position in Hasbro by 95.8% in the 1st quarter. Empowered Funds LLC now owns 13,187 shares of the company's stock valued at $811,000 after buying an additional 6,451 shares during the last quarter. Woodline Partners LP raised its position in Hasbro by 40.7% in the 1st quarter. Woodline Partners LP now owns 11,078 shares of the company's stock valued at $681,000 after buying an additional 3,203 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Hasbro in the 1st quarter valued at $292,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Hasbro Stock Up 1.3%

Shares of NASDAQ:HAS opened at $93.93 on Thursday. The company has a market capitalization of $13.22 billion, a PE ratio of -39.97 and a beta of 0.55. The company has a debt-to-equity ratio of 4.89, a current ratio of 1.38 and a quick ratio of 1.24. The business has a fifty day moving average price of $95.43 and a two-hundred day moving average price of $86.09. Hasbro, Inc. has a 1 year low of $50.55 and a 1 year high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.52. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.26 billion. Hasbro had a positive return on equity of 127.21% and a negative net margin of 6.86%.The business's revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. Hasbro's dividend payout ratio is presently -119.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HAS shares. Citigroup increased their price target on Hasbro from $97.00 to $118.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. increased their price target on Hasbro from $94.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, February 11th. Weiss Ratings raised Hasbro from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. Morgan Stanley upped their price objective on Hasbro from $103.00 to $119.00 and gave the company an "overweight" rating in a research note on Wednesday, February 11th. Finally, Monness Crespi & Hardt upped their price objective on Hasbro from $90.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $112.86.

Insider Transactions at Hasbro

In other news, CEO Christian P. Cocks sold 196,411 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $100.33, for a total transaction of $19,705,915.63. Following the completion of the transaction, the chief executive officer owned 303,310 shares in the company, valued at approximately $30,431,092.30. This represents a 39.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tarrant L. Sibley sold 15,148 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $104.98, for a total value of $1,590,237.04. Following the transaction, the executive vice president owned 50,174 shares of the company's stock, valued at $5,267,266.52. The trade was a 23.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 413,342 shares of company stock worth $42,241,679 over the last 90 days. 0.85% of the stock is owned by insiders.

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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