Hasbro, Inc. $HAS Stock Holdings Lowered by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in Hasbro, Inc. (NASDAQ:HAS) by 46.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,735 shares of the company’s stock after selling 24,028 shares during the period. Van ECK Associates Corp’s holdings in Hasbro were worth $2,291,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its stake in Hasbro by 104.5% during the 2nd quarter. Hsbc Holdings PLC now owns 798,597 shares of the company’s stock valued at $66,071,000 after purchasing an additional 408,015 shares during the period. Beacon Pointe Advisors LLC acquired a new stake in shares of Hasbro in the second quarter valued at approximately $338,000. Rakuten Investment Management Inc. bought a new stake in shares of Hasbro during the second quarter valued at approximately $1,203,000. Empowered Funds LLC acquired a new position in shares of Hasbro during the second quarter worth approximately $1,591,000. Finally, United Capital Financial Advisors LLC acquired a new position in shares of Hasbro during the second quarter worth approximately $467,000. 91.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HAS has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Roth Capital reiterated a “buy” rating on shares of Hasbro in a research report on Wednesday, July 22nd. Zacks Research cut Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wells Fargo & Company raised their price target on Hasbro from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, August 20th. Finally, Bank of America cut their price objective on shares of Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.43.

Insiders Place Their Bets

In other Hasbro news, CFO Gina M. Goetter sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $95.44, for a total value of $1,049,840.00. Following the completion of the transaction, the chief financial officer directly owned 88,104 shares in the company, valued at $8,408,645.76. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Hight sold 3,186 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the sale, the insider owned 67,557 shares in the company, valued at $6,330,766.47. This represents a 4.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,472 shares of company stock worth $4,736,533 over the last three months. Company insiders own 0.71% of the company’s stock.

Hasbro Stock Down 0.5%

NASDAQ HAS opened at $93.00 on Friday. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46. The company’s 50 day simple moving average is $88.97 and its 200 day simple moving average is $90.94. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The company has a market capitalization of $13.12 billion, a P/E ratio of 16.73, a PEG ratio of 1.60 and a beta of 0.47.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. Equities research analysts expect that Hasbro, Inc. will post 6.17 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Hasbro’s dividend payout ratio is currently 50.36%.

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.