Insider Selling: Hasbro (NASDAQ:HAS) CFO Sells $343,753.60 in Stock

Key Points

• Hasbro CFO Gina Goetter sold 2,840 shares for $343,753.60, reducing her stake by 3.91%; the sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Hasbro reported quarterly EPS of $2.90, topping the $1.86 consensus, while revenue of $1.60 billion also exceeded estimates and rose 15% year over year.
• The company announced a quarterly dividend of $0.70 per share, equivalent to $2.80 annually and a 2.3% yield.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) CFO Gina Goetter sold 2,840 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $121.04, for a total value of $343,753.60. Following the completion of the transaction, the chief financial officer owned 69,737 shares in the company, valued at approximately $8,440,966.48. The trade was a 3.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hasbro Stock Down 0.7%

Shares of NASDAQ HAS traded down $0.85 during midday trading on Thursday, hitting $123.17. 202,398 shares of the company's stock were exchanged, compared to its average volume of 1,983,157. The firm's fifty day simple moving average is $100.49 and its 200-day simple moving average is $93.70. The company has a market cap of $17.23 billion, a PE ratio of 18.41, a P/E/G ratio of 1.54 and a beta of 0.36. Hasbro, Inc. has a twelve month low of $74.78 and a twelve month high of $124.62. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.40 and a quick ratio of 1.24.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $1.04. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hasbro had a return on equity of 140.60% and a net margin of 18.44%. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 earnings per share. Research analysts predict that Hasbro, Inc. will post 6.85 EPS for the current fiscal year.

Hasbro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 18th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.3%. Hasbro's payout ratio is 41.85%.

Hedge Funds Weigh In On Hasbro

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pension & Wealth Management Advisors Inc. purchased a new stake in Hasbro during the 3rd quarter valued at approximately $27,000. Community Bank N.A. purchased a new position in shares of Hasbro in the 2nd quarter valued at approximately $26,000. Retirement Wealth Solutions LLC grew its stake in shares of Hasbro by 1,741.2% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 313 shares of the company's stock valued at $27,000 after purchasing an additional 296 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Hasbro by 1,190.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 357 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Hasbro in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 91.83% of the company's stock.

Key Stories Impacting Hasbro

These are some of the HAS stories that stood out recently:

• Positive Sentiment: Hasbro is exploring new ways to bring its characters to life with AI and robotics, potentially expanding fan engagement and licensing opportunities. Hasbro Is Using AI to Bring Characters to Life — With Limits Dynamic Creatures partners with Sixth Wall Studio to bring Hasbro characters to life with robots
• Positive Sentiment: A themed Heated Rivalry Monopoly edition has opened for preorders, adding another licensed product opportunity. Hasbro’s Heated Rivalry Monopoly Opens Preorders With Wolf Bird Token
• Neutral Sentiment: HAS gained 28.6% over the past month, outperforming its industry’s 18.5% advance. That momentum is supportive, but the sharp run-up could also prompt some investors to lock in gains. HAS Stock Up 29% in a Month: Time to Lock in Gains or Stay Invested?

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HAS. Roth Capital restated a "buy" rating on shares of Hasbro in a research note on Wednesday, October 21st. Zacks Research upgraded Hasbro from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 22nd. The Goldman Sachs Group decreased their price objective on Hasbro from $117.00 to $115.00 and set a "buy" rating for the company in a report on Monday, September 21st. Citigroup raised their target price on shares of Hasbro from $117.00 to $137.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. Finally, Argus lifted their target price on shares of Hasbro from $90.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.93.

Hasbro Company Profile

Hasbro, Inc. is a global play and entertainment company that develops and sells toys, games and digital experiences, and licenses its brands for consumer products and entertainment. Its portfolio includes Transformers, Play-Doh, Nerf, Monopoly, My Little Pony, Magic: The Gathering and Dungeons & Dragons. Founded in 1923 as Hassenfeld Brothers, the company began as a family business before expanding into toys and games. Hasbro serves consumers in markets around the world through its products, licensing partnerships and digital offerings.

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