Hasbro, Inc. (NASDAQ:HAS) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in Hasbro, Inc. by 54.2%, now holding 88,730 shares worth approximately $5.46 million.
• Analyst ratings for Hasbro have improved with Goldman Sachs upgrading it to a "buy" rating and raising the price target from $66 to $85.
• Hasbro has announced a quarterly dividend of $0.70, which translates to an annual yield of 3.73%, to be paid on September 3rd.

Victory Capital Management Inc. lowered its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 54.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,730 shares of the company's stock after selling 105,204 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Hasbro worth $5,456,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tectonic Advisors LLC lifted its holdings in shares of Hasbro by 12.6% in the 1st quarter. Tectonic Advisors LLC now owns 129,429 shares of the company's stock worth $7,959,000 after acquiring an additional 14,452 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Hasbro by 130.0% in the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after purchasing an additional 269 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Hasbro during the first quarter worth $440,000. Rice Hall James & Associates LLC acquired a new stake in shares of Hasbro in the first quarter valued at $212,000. Finally, CWM LLC grew its stake in shares of Hasbro by 131.4% in the first quarter. CWM LLC now owns 20,692 shares of the company's stock valued at $1,272,000 after buying an additional 11,749 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Roth Capital increased their target price on Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Bank of America raised their price objective on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. DA Davidson upped their target price on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group raised Hasbro from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $66.00 to $85.00 in a research report on Monday, June 30th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $86.27.

Hasbro Stock Down 0.4%

NASDAQ HAS traded down $0.30 during trading on Wednesday, reaching $76.00. 1,732,977 shares of the company's stock were exchanged, compared to its average volume of 2,483,027. The company has a 50 day moving average price of $71.94 and a two-hundred day moving average price of $64.08. The stock has a market cap of $10.65 billion, a P/E ratio of -18.72, a price-to-earnings-growth ratio of 1.00 and a beta of 0.59. Hasbro, Inc. has a 1 year low of $49.00 and a 1 year high of $78.83. 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 (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $980.80 million during the quarter, compared to the consensus estimate of $891.82 million. During the same period in the prior year, the company posted $1.22 earnings per share. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is 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.