Hasbro, Inc. (HAS) Stake Lessened by Summit X LLC
Summit X LLC lowered its position in Hasbro, Inc. (NASDAQ:HAS) by 9.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,495 shares of the company’s stock after selling 580 shares during the period. Summit X LLC’s holdings in Hasbro were worth $540,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. YorkBridge Wealth Partners LLC lifted its position in shares of Hasbro by 2.8% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,164 shares of the company’s stock worth $129,000 after purchasing an additional 32 shares during the period. Oakworth Capital Inc. lifted its position in shares of Hasbro by 7.2% in the 2nd quarter. Oakworth Capital Inc. now owns 1,207 shares of the company’s stock worth $135,000 after purchasing an additional 81 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of Hasbro in the 2nd quarter worth approximately $155,000. Paradigm Asset Management Co. LLC acquired a new position in shares of Hasbro in the 2nd quarter worth approximately $167,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Hasbro by 26.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,668 shares of the company’s stock worth $186,000 after purchasing an additional 352 shares during the period. Hedge funds and other institutional investors own 77.66% of the company’s stock.
HAS has been the topic of a number of recent analyst reports. Jefferies Group LLC set a $125.00 price target on shares of Hasbro and gave the stock a “buy” rating in a research report on Monday, August 21st. Zacks Investment Research lowered shares of Hasbro from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. BidaskClub lowered shares of Hasbro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Finally, KeyCorp reiterated an “overweight” rating and issued a $112.00 price objective on shares of Hasbro in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $107.18.
In other news, President John Frascotti sold 25,658 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $94.81, for a total transaction of $2,432,634.98. Following the completion of the transaction, the president now directly owns 105,615 shares in the company, valued at $10,013,358.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Goldner sold 205,656 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $105.69, for a total value of $21,735,782.64. Following the transaction, the chief executive officer now owns 354,891 shares of the company’s stock, valued at $37,508,429.79. The disclosure for this sale can be found here. Insiders have sold 1,423,264 shares of company stock valued at $145,144,664 in the last three months. Insiders own 11.00% of the company’s stock.
Shares of Hasbro, Inc. (NASDAQ HAS) traded down 8.26% during mid-day trading on Monday, reaching $90.08. 2,855,672 shares of the company’s stock were exchanged. The firm has a market capitalization of $11.27 billion, a P/E ratio of 19.51 and a beta of 0.92. Hasbro, Inc. has a one year low of $77.20 and a one year high of $116.20. The stock has a 50-day moving average of $96.15 and a 200 day moving average of $101.69.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Monday, October 23rd. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.94 by $0.11. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.77 billion. Hasbro had a return on equity of 32.24% and a net margin of 11.44%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. On average, analysts forecast that Hasbro, Inc. will post $5.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.32%. The ex-dividend date is Tuesday, October 31st. Hasbro’s dividend payout ratio is currently 49.35%.
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Hasbro Company Profile
Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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