Assenagon Asset Management S.A. Decreases Stake in Hasbro, Inc. $HAS

Assenagon Asset Management S.A. cut its holdings in shares of Hasbro, Inc. (NASDAQ:HAS) by 38.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,240 shares of the company’s stock after selling 82,422 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.09% of Hasbro worth $10,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new stake in shares of Hasbro during the 2nd quarter valued at approximately $25,000. First Horizon Corp bought a new stake in Hasbro during the 3rd quarter valued at $29,000. MUFG Securities EMEA plc bought a new stake in Hasbro during the 2nd quarter valued at $28,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Hasbro during the third quarter worth $34,000. Finally, Wexford Capital LP bought a new position in shares of Hasbro in the third quarter worth $37,000. Institutional investors own 91.83% of the company’s stock.

Hasbro Stock Performance

Hasbro stock opened at $88.59 on Friday. Hasbro, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $106.98. The company has a debt-to-equity ratio of 4.89, a quick ratio of 1.24 and a current ratio of 1.38. The stock has a market cap of $12.46 billion, a P/E ratio of -37.70 and a beta of 0.54. The firm’s fifty day moving average price is $95.03 and its 200-day moving average price is $84.60.

Hasbro (NASDAQ:HAS) last announced its earnings results on Tuesday, February 10th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.52. Hasbro had a negative net margin of 6.86% and a positive return on equity of 127.21%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. On average, equities research analysts expect that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 3.2%. Hasbro’s dividend payout ratio is -119.15%.

Insider Transactions at Hasbro

In other Hasbro news, insider Timothy J. Kilpin sold 7,773 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $103.00, for a total value of $800,619.00. Following the completion of the sale, the insider owned 36,528 shares of the company’s stock, valued at $3,762,384. This represents a 17.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tarrant L. Sibley sold 15,148 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $104.98, for a total transaction of $1,590,237.04. Following the transaction, the executive vice president owned 50,174 shares in the company, valued at $5,267,266.52. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 413,342 shares of company stock valued at $42,241,679 over the last 90 days. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

HAS has been the topic of a number of analyst reports. DA Davidson boosted their price objective on Hasbro from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Weiss Ratings restated a “sell (d)” rating on shares of Hasbro in a research report on Monday, December 29th. Roth Mkm set a $120.00 price objective on shares of Hasbro in a research note on Wednesday, February 11th. UBS Group upped their target price on shares of Hasbro from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Citigroup upped their price target on shares of Hasbro from $97.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.07.

About Hasbro

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.