Hasbro, Inc. $HAS Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 31.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 24,555 shares of the company’s stock after selling 11,265 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Hasbro were worth $2,298,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HAS. University of Texas Texas AM Investment Management Co. acquired a new position in Hasbro in the 4th quarter valued at $27,000. CYBER HORNET ETFs LLC acquired a new position in shares of Hasbro during the 2nd quarter valued at about $25,000. MUFG Securities EMEA plc acquired a new position in shares of Hasbro during the 2nd quarter valued at about $28,000. Cedar Mountain Advisors LLC purchased a new position in shares of Hasbro during the 1st quarter worth about $37,000. Finally, Park National Corp OH purchased a new position in shares of Hasbro during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HAS shares. JPMorgan Chase & Co. boosted their target price on shares of Hasbro from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Wells Fargo & Company decreased their price target on shares of Hasbro from $92.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 9th. Citigroup dropped their price objective on Hasbro from $114.00 to $101.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings lowered Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Finally, UBS Group reissued a “buy” rating and set a $110.00 price target on shares of Hasbro in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.21.

Trending Headlines about Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro unveiled Blooms by Play-Doh, a new adult-focused product line that expands the iconic brand beyond kids’ toys and could open a fresh revenue stream. Hasbro Introduces Blooms by Play-Doh, A New Creative Experience Designed for Adults
• Positive Sentiment: Hasbro also highlighted a Transformers crossover strategy, including a first-of-its-kind multipack and a Transformers x Scooby-Doo figure, reinforcing its ability to monetize beloved brands through new collectibles and fan-driven products. Hasbro Reveals a First-of-Its-Kind Transformers Multipack [EXCLUSIVE]
• Neutral Sentiment: Hasbro continues to lean into its “aging up” strategy, using influencers and adult-oriented branding to broaden Play-Doh’s appeal; the concept is promising, but execution risk remains after an earlier adult Play-Doh effort fell short. Hasbro’s ‘Aging Up’ Strategy Continues With a Reattempt at Adult Play-Doh
• Neutral Sentiment: Citigroup lowered its price target on Hasbro (HAS) to $101 from $114, but maintained a Buy rating, signaling confidence in upside even after the cut. Benzinga

Hasbro Stock Performance

NASDAQ:HAS opened at $78.96 on Monday. The business’s 50-day moving average is $86.62 and its two-hundred day moving average is $90.31. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.65 and a quick ratio of 1.49. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The firm has a market capitalization of $11.17 billion, a PE ratio of -47.57, a price-to-earnings-growth ratio of 1.92 and a beta of 0.49.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Wednesday, May 13th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.20 by $0.27. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $969.20 million. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.Hasbro’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS. Research analysts predict that Hasbro, Inc. will post 6.03 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Monday, June 1st were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, June 1st. Hasbro’s dividend payout ratio is -168.67%.

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.