Skandinaviska Enskilda Banken AB publ Cuts Stock Holdings in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Skandinaviska Enskilda Banken AB has reduced its stake in Hasbro, Inc. by 58.2%, selling 10,508 shares, leading to ownership of 7,559 shares valued at $465,000.
• Recent analyst reports have resulted in several price target increases for Hasbro, with Bank of America raising its target from $85.00 to $90.00 and multiple firms assigning "buy" ratings.
• Hasbro announced a quarterly dividend of $0.70 per share, representing an annual yield of 3.67%, scheduled for payment on September 3rd.

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 58.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,559 shares of the company's stock after selling 10,508 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Hasbro were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of HAS. Parvin Asset Management LLC purchased a new position in shares of Hasbro in the 4th quarter valued at $25,000. Sentry Investment Management LLC purchased a new position in shares of Hasbro in the 1st quarter valued at $28,000. SBI Securities Co. Ltd. increased its holdings 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. Itau Unibanco Holding S.A. increased its holdings in shares of Hasbro by 32.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock valued at $41,000 after acquiring an additional 178 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Hasbro in the 4th quarter valued at $44,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Price Performance

Shares of Hasbro stock traded down $0.84 on Thursday, hitting $75.16. The company's stock had a trading volume of 2,203,033 shares, compared to its average volume of 2,460,409. 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 1 year low of $49.00 and a 1 year high of $78.83. The firm has a fifty day moving average price of $71.94 and a 200-day moving average price of $64.08. The company has a market capitalization of $10.53 billion, a price-to-earnings ratio of -18.51, a price-to-earnings-growth ratio of 1.00 and a beta of 0.59.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $891.82 million. During the same quarter in the previous year, the business earned $1.22 EPS. Hasbro's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, August 20th. Hasbro's payout ratio is currently -68.97%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group raised Hasbro from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $66.00 to $85.00 in a research report on Monday, June 30th. Bank of America raised their price objective on Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Roth Capital raised their price objective on Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $86.27.

Hasbro Company 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.