TD Asset Management Inc Cuts Stock Position in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• TD Asset Management Inc has reduced its stake in Hasbro, Inc. by 16.2%, holding approximately 135,990 shares valued at $8.36 million as of its latest SEC filing.
• Many institutional investors, including Geode Capital Management and Kovitz Investment Group Partners, have significantly increased their positions in Hasbro during the fourth quarter.
• Analyst ratings for Hasbro have improved, with multiple brokerages raising their price targets and giving the stock a consensus rating of "Moderate Buy" with a target of $86.27.

TD Asset Management Inc reduced its stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,990 shares of the company's stock after selling 26,214 shares during the quarter. TD Asset Management Inc owned about 0.10% of Hasbro worth $8,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HAS. Parvin Asset Management LLC bought a new stake in shares of Hasbro in the 4th quarter valued at approximately $25,000. Sentry Investment Management LLC acquired a new position in Hasbro during the first quarter worth $28,000. SBI Securities Co. Ltd. raised its stake in Hasbro by 130.0% during the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock worth $29,000 after acquiring an additional 269 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Hasbro by 32.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock worth $41,000 after purchasing an additional 178 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in Hasbro in the fourth quarter valued at about $43,000. 91.83% of the stock is currently owned by institutional investors.

Hasbro Stock Down 0.7%

NASDAQ:HAS traded down $0.53 on Friday, hitting $74.63. The stock had a trading volume of 2,129,307 shares, compared to its average volume of 2,485,920. Hasbro, Inc. has a 52 week low of $49.00 and a 52 week high of $78.83. The company has a quick ratio of 1.32, a current ratio of 1.66 and a debt-to-equity ratio of 12.31. The business's fifty day moving average is $72.29 and its 200 day moving average is $64.39. The company has a market cap of $10.46 billion, a PE ratio of -18.38, a P/E/G ratio of 0.98 and a beta of 0.60.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $980.80 million during the quarter, compared to the consensus estimate of $891.82 million. During the same period last year, the business posted $1.22 earnings per share. Hasbro's revenue was down 1.5% on a year-over-year basis. On average, equities research analysts expect that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, August 20th. Hasbro's payout ratio is presently -68.97%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HAS shares. JPMorgan Chase & Co. raised their target price on Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America boosted their target price on Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Roth Capital boosted their price target on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Monness Crespi & Hardt boosted their price target on Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, DA Davidson upped their target price on Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.