Russell Investments Group Ltd. Has $3.73 Million Stock Holdings in Hasbro, Inc. $HAS

Key Points

• Russell Investments Group Ltd. has decreased its stake in Hasbro, Inc. by 36.7%, selling 35,107 shares to hold a total of 60,646 shares valued at approximately $3.7 million.
• Multiple analysts have increased their price targets for Hasbro, with Bank of America raising its target from $85 to $90, indicating a strong potential for share growth.
• Hasbro's latest earnings report revealed an EPS of $1.30, beating estimates and showing a slight revenue decline of 1.5% year-over-year despite strong earnings performance.

Russell Investments Group Ltd. trimmed its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 36.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,646 shares of the company's stock after selling 35,107 shares during the quarter. Russell Investments Group Ltd.'s holdings in Hasbro were worth $3,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HAS. Kovitz Investment Group Partners LLC increased its position in shares of Hasbro by 313.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,200,860 shares of the company's stock worth $178,960,000 after purchasing an additional 2,427,299 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Hasbro during the 1st quarter worth about $30,347,000. Valley Wealth Managers Inc. acquired a new position in Hasbro in the 1st quarter valued at about $25,381,000. Freestone Grove Partners LP purchased a new position in shares of Hasbro in the 4th quarter valued at about $22,065,000. Finally, Royal Bank of Canada boosted its stake in shares of Hasbro by 67.7% in the 4th quarter. Royal Bank of Canada now owns 868,516 shares of the company's stock valued at $48,560,000 after buying an additional 350,596 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HAS. Citigroup lifted their price objective on Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Monness Crespi & Hardt boosted their price target on shares of Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Roth Capital boosted their target price on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, UBS Group boosted their target price on Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.42.

Insider Activity

In related news, insider Timothy J. Kilpin sold 8,557 shares of Hasbro stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total transaction of $696,882.08. Following the completion of the sale, the insider owned 44,301 shares of the company's stock, valued at approximately $3,607,873.44. This trade represents a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christian P. Cocks sold 27,800 shares of Hasbro stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $78.92, for a total value of $2,193,976.00. Following the sale, the chief executive officer directly owned 249,861 shares of the company's stock, valued at approximately $19,719,030.12. The trade was a 10.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,359 shares of company stock worth $2,970,828. 0.85% of the stock is owned by corporate insiders.

Hasbro Stock Down 0.5%

Shares of HAS stock traded down $0.39 during trading hours on Thursday, reaching $81.17. The company had a trading volume of 153,502 shares, compared to its average volume of 2,020,458. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $82.19. The company has a market capitalization of $11.38 billion, a P/E ratio of -20.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.60. The stock's fifty day simple moving average is $76.71 and its 200 day simple moving average is $67.00.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.52. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.The firm had revenue of $980.80 million for the quarter, compared to the consensus estimate of $891.82 million. During the same quarter in the previous year, the business earned $1.22 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The firm 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 3.4%. Hasbro's payout ratio 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.