Hasbro, Inc. (NASDAQ:HAS) Shares Sold by Envestnet Asset Management Inc.

Posted by Defense World Staff on Sep 2nd, 2023

Envestnet Asset Management Inc. trimmed its holdings in shares of Hasbro, Inc. (NASDAQ:HAS – Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,382 shares of the company’s stock after selling 11,439 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Hasbro worth $19,886,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. grew its holdings in Hasbro by 37.1% in the 1st quarter. American Century Companies Inc. now owns 10,385 shares of the company’s stock valued at $851,000 after buying an additional 2,810 shares during the period. Private Advisor Group LLC raised its position in shares of Hasbro by 14.2% in the 1st quarter. Private Advisor Group LLC now owns 6,850 shares of the company’s stock valued at $562,000 after purchasing an additional 850 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Hasbro by 23.0% during the 1st quarter. MetLife Investment Management LLC now owns 35,245 shares of the company’s stock valued at $2,887,000 after acquiring an additional 6,597 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in Hasbro by 61.8% during the 1st quarter. Panagora Asset Management Inc. now owns 18,140 shares of the company’s stock worth $1,486,000 after buying an additional 6,927 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Hasbro by 2.5% during the first quarter. Rhumbline Advisers now owns 210,792 shares of the company’s stock worth $17,268,000 after purchasing an additional 5,054 shares during the last quarter. Hedge funds and other institutional investors own 82.84% of the company’s stock.

Hasbro Stock Up 1.1 %

NASDAQ HAS opened at $72.79 on Friday. The stock has a market capitalization of $10.10 billion, a P/E ratio of -39.35, a price-to-earnings-growth ratio of 2.77 and a beta of 0.75. Hasbro, Inc. has a 52 week low of $45.75 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.91 and a current ratio of 1.29. The stock has a fifty day moving average of $65.24 and a 200-day moving average of $59.29.

Hasbro (NASDAQ:HAS – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.09). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. Hasbro had a negative net margin of 4.61% and a positive return on equity of 16.12%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 earnings per share. On average, equities research analysts forecast that Hasbro, Inc. will post 4.07 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.80 dividend on an annualized basis and a yield of 3.85%. Hasbro’s payout ratio is -151.35%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HAS. Stifel Nicolaus boosted their price objective on shares of Hasbro from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, August 25th. DA Davidson reissued a “buy” rating and issued a $80.00 price target on shares of Hasbro in a research note on Monday, August 7th. StockNews.com lowered shares of Hasbro from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Argus raised their target price on Hasbro from $70.00 to $75.00 in a research note on Friday, August 4th. Finally, Bank of America raised their price objective on shares of Hasbro from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Hasbro has a consensus rating of “Moderate Buy” and an average target price of $79.64.

View Our Latest Research Report on HAS

Hasbro Company Profile

(Free Report)

Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company in the United States and internationally. The company operates through Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment segments. The Consumer Products segment engages in the sourcing, marketing, and sale of toy and game products.