Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of Hasbro, Inc. (NASDAQ:HAS – Free Report) by 33.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,698 shares of the company’s stock after selling 6,414 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Hasbro were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Hasbro in the second quarter worth approximately $2,204,689,000. Bank of America Corp DE purchased a new position in Hasbro during the second quarter valued at approximately $289,258,000. Norges Bank purchased a new position in Hasbro during the fourth quarter valued at approximately $147,748,000. Bank of New York Mellon Corp acquired a new position in Hasbro in the 2nd quarter valued at approximately $130,731,000. Finally, AQR Capital Management LLC increased its stake in Hasbro by 47.3% in the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock valued at $357,286,000 after buying an additional 1,399,499 shares during the period. 91.83% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Hasbro
In related news, insider Timothy Kilpin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the sale, the insider owned 54,229 shares in the company, valued at $5,049,804.48. This represents a 26.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gina Goetter sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $95.44, for a total value of $1,049,840.00. Following the completion of the sale, the chief financial officer directly owned 88,104 shares in the company, valued at $8,408,645.76. This trade represents a 11.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,472 shares of company stock worth $4,736,533 in the last ninety days. 0.71% of the stock is owned by insiders.
Hasbro Stock Performance
Hasbro (NASDAQ:HAS – Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The company’s revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts expect that Hasbro, Inc. will post 6.17 earnings per share for the current fiscal year.
Hasbro Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.0%. Hasbro’s payout ratio is presently 50.36%.
Key Hasbro News
Here are the key news stories impacting Hasbro this week:
- Positive Sentiment: Hasbro and Krystal are launching new Hasbro-themed kids’ meals, including toys and a promotional 99-cent Sunday offer. The partnership could provide incremental licensing revenue and broaden exposure to families. Krystal, Hasbro partner on new kids’ meals
- Positive Sentiment: Netflix is reportedly developing a Dungeons & Dragons series titled Ravenloft. A new screen adaptation could increase the franchise’s visibility and support merchandise, licensing and digital-game opportunities for Hasbro. Dungeons & Dragons Series Ravenloft in Works at Netflix
- Positive Sentiment: Hasbro is promoting a Transformers collaboration with the NFL through Hasbro Pulse, creating a cross-category collectible opportunity and potentially supporting direct-to-consumer sales. Transformers and the NFL Collide on Hasbro Pulse
- Positive Sentiment: Coverage of the upcoming Hasbro KPop Demon Hunters toys points to another entertainment-based product launch that could add seasonal sales and licensing momentum, although timing and demand remain important. KPop Demon Hunters toys update
- Neutral Sentiment: Hasbro’s CEO has assumed direct responsibility for Dungeons & Dragons and Magic: The Gathering, signaling that management views the brands as strategically important. The move could improve execution but also increases leadership concentration. Hasbro CEO takes direct charge of D&D and Magic
- Neutral Sentiment: Hasbro is marketing a Trivial Pursuit Master Edition featuring 3,000 questions. The product refresh is modestly supportive for the catalog but is unlikely to materially affect the company’s valuation. Trivial Pursuit Master Edition
- Negative Sentiment: Hasbro is reportedly seeking another studio to make Dungeons & Dragons 2. The search suggests development uncertainty and could delay the sequel, limiting near-term benefits from the film franchise. Hasbro seeks another studio for Dungeons & Dragons 2
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on HAS shares. JPMorgan Chase & Co. decreased their target price on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen downgraded Hasbro from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. DA Davidson dropped their target price on Hasbro from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 22nd. Bank of America cut their price target on Hasbro from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, Wells Fargo & Company increased their price objective on Hasbro from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, August 20th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.43.
Get Our Latest Stock Analysis on HAS
Hasbro Company 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.
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