Hasbro, Inc. $HAS Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 84.3% during the first quarter, Holdings Channel reports. The fund owned 19,985 shares of the company’s stock after selling 106,998 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Hasbro were worth $1,871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Hasbro in the 4th quarter valued at about $147,748,000. Bank of America Corp DE boosted its stake in shares of Hasbro by 128.7% during the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after purchasing an additional 1,677,962 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Hasbro by 47.3% during the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after buying an additional 1,399,499 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Hasbro by 454.3% in the first quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company’s stock valued at $68,085,000 after buying an additional 596,167 shares during the last quarter. Finally, NewEdge Wealth LLC acquired a new position in shares of Hasbro in the first quarter valued at approximately $47,671,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Insider Transactions at Hasbro

In related news, insider John Hight sold 3,186 shares of the 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 completion of the sale, the insider owned 67,557 shares of the company’s stock, valued at approximately $6,330,766.47. This represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gina M. Goetter sold 8,265 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $93.96, for a total transaction of $776,579.40. Following the completion of the transaction, the chief financial officer owned 79,839 shares in the company, valued at $7,501,672.44. The trade was a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 42,451 shares of company stock worth $3,987,379. 0.71% of the stock is currently owned by company insiders.

Key Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating, with an average price target of $109.07 versus recent trading levels. Twelve analysts rate Hasbro a Buy, compared with three Holds and one Sell. Hasbro receives Moderate Buy consensus
• Positive Sentiment: Wizards of the Coast unveiled new Dungeons & Dragons initiatives, including a World of Warcraft crossover launching in November, along with planned Dark Sun and Star Wars experiences. The announcements could strengthen Hasbro’s licensing, gaming and fan-engagement opportunities. Dungeons and Dragons announcements
• Positive Sentiment: Hasbro prevailed in a long-running copyright dispute involving Peppa Pig and Vietnam’s Wolfoo, protecting an important intellectual-property asset and potentially limiting unauthorized competition. Peppa Pig copyright case
• Positive Sentiment: New Transformers: Age of the Primes action figures provide additional product support for one of Hasbro’s major brands. Transformers action figures
• Neutral Sentiment: Hasbro declared a quarterly dividend of $0.70, or $2.80 annually, representing an approximately 3% yield. The dividend is payable September 2 to shareholders of record August 19.
• Negative Sentiment: Insider selling may weigh on sentiment: CFO Gina Goetter sold 11,000 shares for about $1.05 million, while John Hight sold 3,186 shares for roughly $299,000. Timothy J. Kilpin also sold 20,000 shares, although that transaction was reported as being to cover tax withholding on vested equity awards. Hasbro insider sales

Hasbro Stock Performance

NASDAQ:HAS opened at $93.94 on Friday. The company has a market cap of $13.29 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.74 and a beta of 0.49. The firm’s 50 day moving average is $84.47 and its two-hundred day moving average is $90.61. Hasbro, Inc. has a fifty-two week low of $69.50 and a fifty-two week high of $106.98. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.12. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. Analysts expect that Hasbro, Inc. will post 6.13 EPS for the current year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s payout ratio is currently 50.36%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Argus raised their target price on shares of Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Jefferies Financial Group reduced their price target on Hasbro from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. DA Davidson decreased their price objective on Hasbro from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 22nd. Bank of America lowered their price objective on Hasbro from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, BNP Paribas Exane dropped their target price on Hasbro from $117.00 to $114.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.07.

Hasbro Profile

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.