Insider Selling: Hasbro (NASDAQ:HAS) Insider Sells $1,862,400.00 in Stock

Key Points

• Hasbro insider Timothy Kilpin sold 20,000 shares at an average price of $93.12, generating $1.86 million. The sale covered tax withholding obligations tied to vested equity awards and reduced his stake by 26.94%.
• Hasbro reported stronger-than-expected quarterly results, with EPS of $1.28 versus the $1.16 consensus and revenue of $1.14 billion, up 16.2% year over year.
• The company declared a quarterly dividend of $0.70 per share, or $2.80 annually, representing a 2.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $109.07.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) insider Timothy Kilpin sold 20,000 shares of Hasbro stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the sale, the insider owned 54,229 shares in the company, valued at approximately $5,049,804.48. This trade represents a 26.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hasbro Price Performance

Shares of HAS traded down $1.18 during mid-day trading on Wednesday, hitting $95.16. 1,913,596 shares of the company were exchanged, compared to its average volume of 2,024,307. Hasbro, Inc. has a 1-year low of $69.50 and a 1-year high of $106.98. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. The company has a 50 day moving average of $84.14 and a 200-day moving average of $90.48. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.66 and a beta of 0.49.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The firm's revenue for the quarter was up 16.2% on a year-over-year basis. Analysts expect that Hasbro, Inc. will post 6.13 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, August 19th. Hasbro's dividend payout ratio is 50.36%.

Analyst Ratings Changes

HAS has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Hasbro from $92.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 9th. Jefferies Financial Group lowered their target price on Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Zacks Research lowered Hasbro from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. BNP Paribas Exane cut their price target on Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. Finally, DA Davidson reduced their price objective on Hasbro from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 22nd. Twelve equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $109.07.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Hasbro in the 4th quarter valued at about $147,748,000. Bank of America Corp DE boosted its stake in Hasbro by 128.7% during the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company's stock worth $220,089,000 after buying an additional 1,677,962 shares during the period. AQR Capital Management LLC increased its position in shares of Hasbro by 47.3% during the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company's stock valued at $357,286,000 after acquiring an additional 1,399,499 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Hasbro by 454.3% during the first quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company's stock valued at $68,085,000 after acquiring an additional 596,167 shares during the last quarter. Finally, NewEdge Wealth LLC purchased a new stake in shares of Hasbro in the 1st quarter valued at approximately $47,671,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

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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