Hasbro, Inc. $HAS Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Hasbro, Inc. (NASDAQ:HAS) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,409,381 shares of the company’s stock after selling 73,363 shares during the period. Bank of New York Mellon Corp’s holdings in Hasbro were worth $104,040,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Hasbro in the 4th quarter worth approximately $317,000. Teacher Retirement System of Texas grew its stake in shares of Hasbro by 3.9% in the first quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company’s stock worth $1,754,000 after purchasing an additional 1,072 shares in the last quarter. Greenleaf Trust grew its stake in shares of Hasbro by 26.6% in the first quarter. Greenleaf Trust now owns 6,081 shares of the company’s stock worth $374,000 after purchasing an additional 1,276 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Hasbro by 93.2% during the first quarter. Allworth Financial LP now owns 931 shares of the company’s stock valued at $56,000 after purchasing an additional 449 shares during the period. Finally, Xponance Inc. raised its stake in shares of Hasbro by 25.7% during the first quarter. Xponance Inc. now owns 38,958 shares of the company’s stock valued at $2,396,000 after purchasing an additional 7,967 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.

Analysts Set New Price Targets

HAS has been the subject of a number of recent analyst reports. Roth Capital set a $96.00 target price on shares of Hasbro and gave the company a “buy” rating in a research report on Friday, October 24th. Morgan Stanley raised their price objective on shares of Hasbro from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. DA Davidson boosted their target price on Hasbro from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on Hasbro from $75.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded Hasbro from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hasbro has a consensus rating of “Moderate Buy” and an average price target of $89.25.

Hasbro Stock Down 0.1%

HAS stock opened at $76.57 on Friday. Hasbro, Inc. has a 12 month low of $49.00 and a 12 month high of $82.19. The firm has a market cap of $10.74 billion, a PE ratio of -19.09, a P/E/G ratio of 0.98 and a beta of 0.61. The firm has a 50 day simple moving average of $76.19 and a 200 day simple moving average of $73.07. The company has a debt-to-equity ratio of 7.65, a current ratio of 1.70 and a quick ratio of 1.42.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.05. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.35 billion. Hasbro had a negative net margin of 12.81% and a positive return on equity of 82.17%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share. Equities research analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. Hasbro’s payout ratio is -69.83%.

Insider Activity

In related news, insider Timothy J. Kilpin sold 8,557 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total value of $696,882.08. Following the completion of the transaction, the insider owned 44,301 shares in the company, valued at $3,607,873.44. This trade represents a 16.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christian P. Cocks sold 27,800 shares of Hasbro stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $78.92, for a total value of $2,193,976.00. Following the completion of the transaction, the chief executive officer directly owned 249,861 shares in the company, valued at $19,719,030.12. This represents a 10.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 37,359 shares of company stock valued at $2,970,828 over the last three months. Insiders own 0.85% of the company’s stock.

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.