Hasbro (NASDAQ:HAS) CFO Gina Goetter Sells 8,265 Shares

Key Points

• Hasbro CFO Gina Goetter sold 8,265 shares at an average price of $93.96, generating approximately $776,579 and reducing her direct stake by 9.38% to 79,839 shares.
• Hasbro reported a strong quarter, with earnings of $1.28 per share and revenue of $1.14 billion, exceeding analyst estimates; revenue rose 16.2% year over year.
• The company declared a quarterly dividend of $0.70 per share, equivalent to $2.80 annually and an approximate 3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $109.07.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) CFO Gina Goetter sold 8,265 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $93.96, for a total transaction of $776,579.40. Following the transaction, the chief financial officer directly owned 79,839 shares of the company's stock, valued at approximately $7,501,672.44. This trade represents a 9.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Hasbro Stock Performance

Shares of HAS stock traded down $0.59 during trading hours on Friday, reaching $93.94. The stock had a trading volume of 2,746,267 shares, compared to its average volume of 2,024,640. The firm has a 50-day simple moving average of $84.36 and a 200-day simple moving average of $90.58. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. The firm has a market capitalization of $13.29 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.75 and a beta of 0.49. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. The company 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%.The business's revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, equities analysts forecast that Hasbro, Inc. will post 6.13 earnings per share for the current year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, August 19th. Hasbro's payout ratio is 50.36%.

Institutional Investors Weigh In On Hasbro

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Hasbro by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company's stock valued at $1,392,088,000 after purchasing an additional 453,038 shares during the last quarter. State Street Corp lifted its stake in Hasbro by 2.1% during the second quarter. State Street Corp now owns 6,508,052 shares of the company's stock valued at $480,424,000 after buying an additional 131,678 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Hasbro by 47.3% in the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company's stock worth $357,286,000 after buying an additional 1,399,499 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Hasbro by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company's stock worth $299,700,000 after buying an additional 122,592 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Hasbro by 21.9% in the third quarter. Bank of America Corp DE now owns 3,633,213 shares of the company's stock worth $275,579,000 after acquiring an additional 651,790 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.

Trending Headlines about Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating, with an average price target of $109.07 versus recent trading levels. Twelve analysts rate Hasbro a Buy, compared with three Holds and one Sell. Hasbro receives Moderate Buy consensus
• Positive Sentiment: Wizards of the Coast unveiled new Dungeons & Dragons initiatives, including a World of Warcraft crossover launching in November, along with planned Dark Sun and Star Wars experiences. The announcements could strengthen Hasbro’s licensing, gaming and fan-engagement opportunities. Dungeons and Dragons announcements
• Positive Sentiment: Hasbro prevailed in a long-running copyright dispute involving Peppa Pig and Vietnam’s Wolfoo, protecting an important intellectual-property asset and potentially limiting unauthorized competition. Peppa Pig copyright case
• Positive Sentiment: New Transformers: Age of the Primes action figures provide additional product support for one of Hasbro’s major brands. Transformers action figures
• Neutral Sentiment: Hasbro declared a quarterly dividend of $0.70, or $2.80 annually, representing an approximately 3% yield. The dividend is payable September 2 to shareholders of record August 19.
• Negative Sentiment: Insider selling may weigh on sentiment: CFO Gina Goetter sold 11,000 shares for about $1.05 million, while John Hight sold 3,186 shares for roughly $299,000. Timothy J. Kilpin also sold 20,000 shares, although that transaction was reported as being to cover tax withholding on vested equity awards. Hasbro insider sales

Analysts Set New Price Targets

HAS has been the topic of a number of research analyst reports. Wall Street Zen lowered Hasbro from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a report on Wednesday, July 22nd. Zacks Research cut shares of Hasbro from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Bank of America dropped their price target on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Hasbro from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, June 1st. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hasbro has a consensus rating of "Moderate Buy" and an average target price of $109.07.

Hasbro Company Profile

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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