John Hight Sells 3,186 Shares of Hasbro (NASDAQ:HAS) Stock

Hasbro, Inc. (NASDAQ:HAS) insider John Hight sold 3,186 shares of Hasbro stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $93.71, for a total transaction of $298,560.06. Following the transaction, the insider owned 67,557 shares in the company, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Hasbro Stock Down 0.6%

Shares of Hasbro stock opened at $93.94 on Friday. Hasbro, Inc. has a 1 year low of $69.50 and a 1 year high of $106.98. The company has a market cap of $13.29 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.74 and a beta of 0.49. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. The stock has a 50-day moving average price of $84.47 and a 200 day moving average price of $90.61.

Hasbro (NASDAQ:HAS) last issued its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $1.30 EPS. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, analysts expect that Hasbro, Inc. will post 6.13 EPS for the current fiscal year.

Hasbro Announces Dividend

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 dividend of $0.70 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. Hasbro’s dividend payout ratio is 50.36%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HAS. Norges Bank acquired a new stake in Hasbro during the fourth quarter worth about $147,748,000. Bank of America Corp DE raised its holdings in Hasbro by 128.7% in the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock valued at $220,089,000 after acquiring an additional 1,677,962 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Hasbro by 47.3% in 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 period. Assenagon Asset Management S.A. lifted its position in shares of Hasbro by 454.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company’s stock worth $68,085,000 after acquiring an additional 596,167 shares during the period. Finally, NewEdge Wealth LLC acquired a new stake in shares of Hasbro during the 1st quarter worth approximately $47,671,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Analyst Ratings Changes

HAS has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of Hasbro in a report on Thursday, July 23rd. Bank of America cut their price objective on Hasbro from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Jefferies Financial Group decreased their target price on Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Argus raised their target price on Hasbro from $90.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Zacks Research downgraded 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Hasbro has an average rating of “Moderate Buy” and a consensus target price of $109.07.

Key Hasbro News

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

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.