Hasbro, Inc. (NASDAQ:HAS) Shares Sold by LPL Financial LLC

LPL Financial LLC lessened its holdings in Hasbro, Inc. (NASDAQ:HAS) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,059 shares of the company’s stock after selling 2,520 shares during the quarter. LPL Financial LLC owned 0.05% of Hasbro worth $4,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC lifted its holdings in Hasbro by 313.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,200,860 shares of the company’s stock valued at $178,960,000 after acquiring an additional 2,427,299 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Hasbro in the 4th quarter valued at $23,623,000. Valley Wealth Managers Inc. acquired a new position in shares of Hasbro in the 1st quarter valued at $25,381,000. Freestone Grove Partners LP acquired a new position in Hasbro during the 4th quarter worth about $22,065,000. Finally, Royal Bank of Canada lifted its stake in Hasbro by 67.7% during the 4th quarter. Royal Bank of Canada now owns 868,516 shares of the company’s stock worth $48,560,000 after acquiring an additional 350,596 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group upped their price target on Hasbro from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. Monness Crespi & Hardt raised their price target on Hasbro from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Morgan Stanley lifted their target price on Hasbro from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. DA Davidson raised their price target on Hasbro from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on Hasbro from $75.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.42.

Hasbro Stock Performance

Hasbro stock opened at $80.55 on Friday. The stock has a fifty day moving average price of $74.44 and a 200 day moving average price of $65.61. Hasbro, Inc. has a 52 week low of $49.00 and a 52 week high of $80.83. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31. The firm has a market capitalization of $11.30 billion, a P/E ratio of -19.84, a PEG ratio of 1.06 and a beta of 0.60.

Hasbro (NASDAQ:HAS) last posted its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.52. The business had revenue of $980.80 million during the quarter, compared to analyst estimates of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share. Equities research analysts anticipate that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 20th. This represents a $2.80 annualized dividend and a yield of 3.5%. Hasbro’s dividend payout ratio is presently -68.97%.

About Hasbro

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.