Holocene Advisors LP Sells 193,575 Shares of Hasbro, Inc. (NASDAQ:HAS)

Holocene Advisors LP cut its holdings in Hasbro, Inc. (NASDAQ:HAS) by 21.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 701,341 shares of the company’s stock after selling 193,575 shares during the quarter. Holocene Advisors LP owned approximately 0.50% of Hasbro worth $50,721,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Plato Investment Management Ltd acquired a new position in Hasbro during the 2nd quarter worth $27,000. Asset Dedication LLC raised its position in shares of Hasbro by 290.1% during the second quarter. Asset Dedication LLC now owns 472 shares of the company’s stock worth $28,000 after acquiring an additional 351 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Hasbro by 224.8% during the third quarter. Blue Trust Inc. now owns 432 shares of the company’s stock valued at $31,000 after acquiring an additional 299 shares during the period. True Wealth Design LLC bought a new position in Hasbro in the third quarter valued at about $31,000. Finally, International Assets Investment Management LLC acquired a new stake in Hasbro in the second quarter worth about $46,000. 91.83% of the stock is owned by institutional investors.

Hasbro Stock Down 0.6 %

Shares of Hasbro stock opened at $64.73 on Tuesday. The company has a market capitalization of $9.03 billion, a P/E ratio of -13.95, a price-to-earnings-growth ratio of 0.60 and a beta of 0.62. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.47 and a quick ratio of 1.29. The business has a 50-day moving average of $67.63 and a two-hundred day moving average of $64.50. Hasbro, Inc. has a 1 year low of $46.09 and a 1 year high of $73.46.

Hasbro (NASDAQ:HAS) last posted its earnings results on Thursday, October 24th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.45. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the business earned $1.64 EPS. Hasbro’s revenue for the quarter was down 14.8% compared to the same quarter last year. As a group, equities analysts predict that Hasbro, Inc. will post 3.93 EPS for the current year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.80 annualized dividend and a yield of 4.33%. Hasbro’s dividend payout ratio is currently -60.34%.

Insider Buying and Selling

In related news, EVP Matthew Edward Austin sold 1,718 shares of Hasbro stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $65.06, for a total value of $111,773.08. Following the sale, the executive vice president now owns 36,828 shares of the company’s stock, valued at approximately $2,396,029.68. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HAS shares. JPMorgan Chase & Co. upped their target price on shares of Hasbro from $76.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group increased their price objective on shares of Hasbro from $75.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus lifted their target price on shares of Hasbro from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Bank of America increased their price target on Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Morgan Stanley lifted their price objective on Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Hasbro Company Profile

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.