Hasbro, Inc. $HAS Holdings Lowered by Royal Bank of Canada

Royal Bank of Canada lowered its stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 43.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 494,439 shares of the company's stock after selling 374,077 shares during the period. Royal Bank of Canada owned approximately 0.35% of Hasbro worth $30,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HAS. Sentry Investment Management LLC purchased a new position in shares of Hasbro in the 1st quarter valued at $28,000. SBI Securities Co. Ltd. raised its stake in shares of 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 acquiring an additional 269 shares during the period. Allworth Financial LP raised its stake in shares of Hasbro by 93.2% in the 1st quarter. Allworth Financial LP now owns 931 shares of the company's stock valued at $56,000 after acquiring an additional 449 shares during the period. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Hasbro by 21.6% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock valued at $64,000 after acquiring an additional 186 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Hasbro by 299.0% in the 1st quarter. Blue Trust Inc. now owns 1,141 shares of the company's stock valued at $70,000 after acquiring an additional 855 shares during the period. Hedge funds and other institutional investors own 91.83% of the company's stock.

Insider Activity at Hasbro

In other Hasbro news, insider Timothy J. Kilpin sold 8,557 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total transaction of $696,882.08. Following the sale, the insider directly owned 44,301 shares in the company, valued at approximately $3,607,873.44. The trade was a 16.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roberta K. Thomson sold 1,002 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $79.81, for a total transaction of $79,969.62. Following the sale, the insider owned 51,301 shares in the company, valued at $4,094,332.81. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,359 shares of company stock worth $2,970,828 in the last ninety days. 0.85% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HAS shares. JPMorgan Chase & Co. raised their price target on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. DA Davidson raised their price target on shares of Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Monness Crespi & Hardt raised their price target on shares of Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and raised their price target for the company from $66.00 to $85.00 in a report on Monday, June 30th. Finally, Bank of America raised their price target on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Hasbro currently has a consensus rating of "Moderate Buy" and an average price target of $86.42.

Hasbro Stock Performance

Shares of NASDAQ HAS traded up $1.33 during midday trading on Thursday, hitting $78.99. The company's stock had a trading volume of 659,377 shares, compared to its average volume of 1,985,825. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19. The firm's fifty day moving average price is $78.16 and its 200-day moving average price is $68.23. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66. The firm has a market cap of $11.08 billion, a P/E ratio of -19.45, a P/E/G ratio of 1.02 and a beta of 0.59.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $891.82 million. During the same period in the previous year, the business posted $1.22 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a $0.70 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.80 annualized dividend and a yield of 3.5%. Hasbro's dividend payout ratio (DPR) is currently -68.97%.

Hasbro 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.