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

Hasbro, Inc. (NASDAQ:HAS) insider Timothy Kilpin sold 20,000 shares of Hasbro 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 completion of the transaction, the insider directly owned 54,229 shares of the company’s stock, valued at $5,049,804.48. This trade represents a 26.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hasbro Trading Down 0.6%

Shares of NASDAQ HAS opened at $93.94 on Friday. The firm’s 50 day moving average price is $84.47 and its 200-day moving average price is $90.61. Hasbro, Inc. has a 52-week low of $69.50 and a 52-week 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 market cap of $13.29 billion, a PE ratio of 16.90, a P/E/G ratio of 1.74 and a beta of 0.49.

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

Hasbro Dividend Announcement

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

Key Stories Impacting 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

Analyst Ratings Changes

A number of brokerages have weighed in on HAS. JPMorgan Chase & Co. decreased their target price on Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Jefferies Financial Group reduced their price target on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Bank of America lowered their price objective 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. Roth Capital restated a “buy” rating on shares of Hasbro in a report on Wednesday, July 22nd. Finally, Zacks Research downgraded shares of Hasbro from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hasbro has an average rating of “Moderate Buy” and a consensus target price of $109.07.

Institutional Investors Weigh In On Hasbro

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in 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 buying an additional 453,038 shares during the period. State Street Corp raised its position in Hasbro by 2.1% in the second quarter. State Street Corp now owns 6,508,052 shares of the company’s stock worth $480,424,000 after acquiring an additional 131,678 shares during the period. AQR Capital Management LLC boosted its stake in shares of Hasbro by 47.3% during the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after acquiring an additional 1,399,499 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Hasbro by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company’s stock valued at $299,700,000 after acquiring an additional 122,592 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Hasbro by 21.9% during the 3rd quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock valued at $275,579,000 after acquiring an additional 651,790 shares during the period. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.