Silvercrest Asset Management Group LLC Cuts Position in Hasbro, Inc. (NASDAQ:HAS)

Silvercrest Asset Management Group LLC trimmed its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 95.5% during the 1st quarter, Holdings Channel reports. The fund owned 35,093 shares of the company’s stock after selling 752,694 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Hasbro were worth $1,983,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HAS. Lindbrook Capital LLC grew its position in Hasbro by 56.2% in the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after acquiring an additional 167 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Hasbro by 5.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,509 shares of the company’s stock worth $230,000 after purchasing an additional 215 shares during the period. Texas Permanent School Fund Corp increased its position in shares of Hasbro by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 26,957 shares of the company’s stock valued at $1,524,000 after purchasing an additional 299 shares during the last quarter. Arizona State Retirement System raised its holdings in Hasbro by 0.8% during the 4th quarter. Arizona State Retirement System now owns 36,225 shares of the company’s stock valued at $1,850,000 after buying an additional 300 shares during the period. Finally, ST Germain D J Co. Inc. lifted its position in Hasbro by 16.3% in the first quarter. ST Germain D J Co. Inc. now owns 2,175 shares of the company’s stock worth $123,000 after buying an additional 305 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HAS has been the topic of a number of analyst reports. Bank of America upgraded shares of Hasbro from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $70.00 to $80.00 in a research report on Friday, June 14th. Stifel Nicolaus upped their price target on shares of Hasbro from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, July 26th. Jefferies Financial Group raised their price objective on shares of Hasbro from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. raised Hasbro from a “neutral” rating to an “overweight” rating and upped their target price for the company from $61.00 to $74.00 in a research note on Thursday, May 23rd. Finally, Roth Mkm increased their price target on Hasbro from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.08.

Insider Activity

In related news, EVP Tarrant L. Sibley sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $60.26, for a total value of $783,380.00. Following the completion of the transaction, the executive vice president now owns 53,003 shares of the company’s stock, valued at $3,193,960.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Hasbro Stock Up 1.3 %

Shares of NASDAQ:HAS opened at $65.51 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.46 and a debt-to-equity ratio of 2.95. The business’s 50 day moving average is $59.61 and its 200 day moving average is $56.23. The stock has a market cap of $9.12 billion, a P/E ratio of -6.46, a price-to-earnings-growth ratio of 0.50 and a beta of 0.62. Hasbro, Inc. has a 52-week low of $42.66 and a 52-week high of $73.57.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.44. The business had revenue of $995.30 million for the quarter, compared to the consensus estimate of $941.38 million. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. The business’s revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. Sell-side analysts predict that Hasbro, Inc. will post 3.89 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Wednesday, August 21st. Hasbro’s dividend payout ratio (DPR) is -27.61%.

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.