Teza Capital Management LLC Sells 41,474 Shares of Hasbro, Inc. $HAS

Key Points

• Teza Capital Management LLC has reduced its position in Hasbro, Inc. by 69.7%, selling 41,474 shares and leaving it with 18,029 shares valued at approximately $1.1 million.
• Wall Street analysts have generally upgraded their ratings for Hasbro, with multiple firms raising their price targets, resulting in a consensus rating of "Moderate Buy" and an average target price of $86.42.
• Hasbro recently announced a quarterly dividend of $0.70 per share, offering a dividend yield of 3.5%, despite having a negative payout ratio of -68.97%.

Teza Capital Management LLC lessened its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 69.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,029 shares of the company's stock after selling 41,474 shares during the quarter. Teza Capital Management LLC's holdings in Hasbro were worth $1,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HAS. UniSuper Management Pty Ltd boosted its stake in Hasbro by 5.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 26,845 shares of the company's stock worth $1,651,000 after purchasing an additional 1,500 shares during the period. Samlyn Capital LLC raised its stake in shares of Hasbro by 22.7% in the 1st quarter. Samlyn Capital LLC now owns 950,630 shares of the company's stock valued at $58,454,000 after purchasing an additional 176,175 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hasbro by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company's stock valued at $1,018,000 after purchasing an additional 1,753 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Hasbro by 9.7% during the first quarter. AQR Capital Management LLC now owns 1,154,808 shares of the company's stock worth $69,843,000 after buying an additional 101,845 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of Hasbro by 58.4% during the first quarter. Advisors Asset Management Inc. now owns 30,700 shares of the company's stock worth $1,888,000 after buying an additional 11,324 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on HAS shares. Morgan Stanley boosted their target price on Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of Hasbro from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Bank of America raised their target price on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. UBS Group lifted their price target on shares of Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Hasbro has an average rating of "Moderate Buy" and a consensus target price of $86.42.

Insider Buying and Selling at Hasbro

In other news, CEO Christian P. Cocks sold 27,800 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 249,861 shares of the company's stock, valued at $19,719,030.12. This represents a 10.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roberta K. Thomson sold 1,002 shares of the firm'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 of the company's stock, valued at approximately $4,094,332.81. This represents a 1.92% decrease in their position. 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 over the last ninety days. Insiders own 0.85% of the company's stock.

Hasbro Stock Performance

Hasbro stock traded down $1.27 during midday trading on Friday, reaching $78.68. 367,091 shares of the company's stock were exchanged, compared to its average volume of 1,984,227. The stock's 50-day simple moving average is $78.21 and its 200 day simple moving average is $68.32. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of -19.40, a P/E/G ratio of 1.00 and a beta of 0.59. 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 52 week low of $49.00 and a 52 week high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 earnings per share (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 analysts' expectations of $891.82 million. During the same period last year, the firm posted $1.22 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. On average, analysts expect that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, August 20th. Hasbro's payout ratio is -68.97%.

About Hasbro

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.