Verdence Capital Advisors LLC Reduces Stake in Hasbro, Inc. (NASDAQ:HAS)

Verdence Capital Advisors LLC trimmed its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 84.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,044 shares of the company's stock after selling 22,361 shares during the period. Verdence Capital Advisors LLC's holdings in Hasbro were worth $249,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Teacher Retirement System of Texas increased its holdings in Hasbro by 3.9% in the 1st quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company's stock worth $1,754,000 after acquiring an additional 1,072 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Hasbro by 20.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company's stock worth $1,036,000 after buying an additional 2,866 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Hasbro by 60.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,597 shares of the company's stock worth $1,021,000 after buying an additional 6,225 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Hasbro in the fourth quarter valued at approximately $540,000. Finally, Polymer Capital Management US LLC purchased a new position in shares of Hasbro during the fourth quarter valued at approximately $502,000. 91.83% of the stock is currently owned by institutional investors.

Hasbro Stock Performance

HAS stock traded down $0.69 during trading on Thursday, hitting $76.15. 898,412 shares of the company traded hands, compared to its average volume of 2,028,218. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.65 and a quick ratio of 1.40. Hasbro, Inc. has a 1 year low of $49.00 and a 1 year high of $78.83. The stock's 50-day simple moving average is $71.09 and its 200 day simple moving average is $63.44. The company has a market cap of $10.67 billion, a PE ratio of 25.16, a P/E/G ratio of 2.10 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 EPS for the quarter, beating the consensus estimate of $0.78 by $0.52. Hasbro had a return on equity of 51.39% and a net margin of 9.99%. The business had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. During the same quarter in the prior year, the company posted $1.22 EPS. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities 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 will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.68%. Hasbro's payout ratio is 92.41%.

Analyst Ratings Changes

A number of research firms have issued reports on HAS. Monness Crespi & Hardt increased their price objective on Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley lifted their target price on Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday. DA Davidson reaffirmed a "neutral" rating and issued a $75.00 price objective on shares of Hasbro in a research note on Thursday, May 15th. Roth Capital boosted their target price on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.73.

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.