Jennison Associates LLC Lowers Stake in Hasbro, Inc. $HAS

Jennison Associates LLC lowered its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 358,228 shares of the company’s stock after selling 481 shares during the quarter. Jennison Associates LLC’s holdings in Hasbro were worth $26,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its stake in shares of Hasbro by 3.9% during the first quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company’s stock worth $1,754,000 after acquiring an additional 1,072 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Hasbro by 20.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company’s stock worth $1,036,000 after acquiring an additional 2,866 shares in the last quarter. Jump Financial LLC raised its stake in shares of Hasbro by 129.5% during the first quarter. Jump Financial LLC now owns 11,020 shares of the company’s stock worth $678,000 after acquiring an additional 6,219 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Hasbro by 7.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,772 shares of the company’s stock worth $785,000 after acquiring an additional 931 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Hasbro by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,217,361 shares of the company’s stock worth $74,856,000 after acquiring an additional 27,547 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Trading Down 1.8%

NASDAQ:HAS opened at $76.55 on Friday. The company has a fifty day moving average of $76.81 and a 200 day moving average of $72.08. Hasbro, Inc. has a 52 week low of $49.00 and a 52 week high of $82.19. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 7.65. The firm has a market capitalization of $10.73 billion, a P/E ratio of -19.09, a P/E/G ratio of 0.98 and a beta of 0.60.

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

Hasbro Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on HAS shares. JPMorgan Chase & Co. lifted their price target on shares of Hasbro from $75.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Wolfe Research lifted their price target on shares of Hasbro from $89.00 to $90.00 in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Hasbro in a research note on Wednesday, October 8th. Morgan Stanley lifted their price target on shares of Hasbro from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Roth Capital set a $96.00 price target on shares of Hasbro and gave the company a “buy” rating in a report on Friday, October 24th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

Insider Buying and Selling at Hasbro

In other Hasbro news, insider Roberta K. Thomson sold 1,002 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $79.81, for a total transaction of $79,969.62. Following the transaction, the insider directly owned 51,301 shares of the company’s stock, valued at approximately $4,094,332.81. The trade was a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy J. Kilpin sold 8,557 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total transaction of $696,882.08. Following the transaction, the insider directly owned 44,301 shares in the company, valued at approximately $3,607,873.44. The trade was a 16.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 37,359 shares of company stock valued at $2,970,828. 0.85% of the stock is currently owned by company insiders.

Hasbro 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.