Wellington Management Group LLP Sells 19,120 Shares of Hasbro, Inc. $HAS

Key Points

• Wellington Management reduced its Hasbro position by 16.9%, selling 19,120 shares and retaining 93,784 shares valued at approximately $7.75 million. Institutional investors and hedge funds collectively own 91.83% of Hasbro.
• Hasbro reported quarterly adjusted earnings of $1.28 per share and revenue of $1.14 billion, exceeding analyst expectations; revenue increased 16.2% year over year.
• Insiders sold 50,472 shares worth about $4.74 million during the quarter, while Hasbro maintained a quarterly dividend of $0.70 per share, equating to a 3.1% yield. Analysts hold a consensus “Moderate Buy” rating with an average price target of $109.43.

Wellington Management Group LLP decreased its position in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 16.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,784 shares of the company's stock after selling 19,120 shares during the quarter. Wellington Management Group LLP owned approximately 0.07% of Hasbro worth $7,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Beacon Pointe Advisors LLC acquired a new position in Hasbro in the 2nd quarter valued at $338,000. Rakuten Investment Management Inc. bought a new stake in Hasbro during the second quarter valued at about $1,203,000. Empowered Funds LLC bought a new stake in Hasbro during the second quarter valued at about $1,591,000. United Capital Financial Advisors LLC acquired a new stake in shares of Hasbro in the second quarter valued at about $467,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Hasbro in the second quarter worth about $3,311,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John Hight sold 3,186 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total value of $298,560.06. Following the completion of the transaction, the insider owned 67,557 shares in the company, valued at approximately $6,330,766.47. This represents a 4.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Timothy Kilpin sold 20,000 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the transaction, the insider directly owned 54,229 shares of the company's stock, valued at $5,049,804.48. The trade was a 26.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 50,472 shares of company stock worth $4,736,533. Insiders own 0.71% of the company's stock.

Hasbro Price Performance

Shares of HAS stock opened at $90.31 on Wednesday. The stock has a 50 day moving average of $89.43 and a two-hundred day moving average of $90.72. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The company has a market capitalization of $12.74 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.59 and a beta of 0.47.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro's quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. As a group, equities analysts expect that Hasbro, Inc. will post 6.17 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 19th. Hasbro's payout ratio is 50.36%.

Analyst Ratings Changes

A number of analysts have issued reports on HAS shares. Morgan Stanley raised their target price on Hasbro from $122.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. Wall Street Zen cut Hasbro from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Roth Capital restated a "buy" rating on shares of Hasbro in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Hasbro from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Friday, July 31st. Finally, BNP Paribas Exane cut their target price on shares of Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a research note on Wednesday, July 15th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Hasbro currently has a consensus rating of "Moderate Buy" and an average price target of $109.43.

About Hasbro

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company's brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.

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