California Public Employees Retirement System Sells 260,331 Shares of Hasbro, Inc. $HAS

California Public Employees Retirement System reduced its stake in Hasbro, Inc. (NASDAQ:HAS) by 47.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 289,658 shares of the company’s stock after selling 260,331 shares during the period. California Public Employees Retirement System owned about 0.20% of Hasbro worth $27,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. CYBER HORNET ETFs LLC purchased a new position in shares of Hasbro in the second quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Hasbro during the 4th quarter valued at $27,000. MUFG Securities EMEA plc bought a new stake in Hasbro in the 2nd quarter worth $28,000. Cedar Mountain Advisors LLC purchased a new position in shares of Hasbro in the first quarter valued at about $37,000. Finally, Wexford Capital LP purchased a new position in shares of Hasbro in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

More Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro reported Q2 earnings and revenue that beat Wall Street estimates, with sales up 16% year over year and management raising its full-year outlook for revenue, profit, margins, and EBITDA. Reuters article
• Positive Sentiment: Wizards of the Coast and digital gaming were the main growth drivers, with record Magic: The Gathering demand helping offset softer areas and signaling that Hasbro’s higher-margin franchise strategy is working. WSJ article
• Positive Sentiment: Several analysts reiterated bullish ratings after the quarter, and the company also announced a quarterly dividend, which can support investor confidence. TipRanks article
• Neutral Sentiment: Hasbro unveiled official Legend of Zelda toy figures tied to the franchise’s 40th anniversary, which adds a positive brand and licensing angle but is not yet a confirmed earnings driver. IGN article
• Negative Sentiment: Offsetting the upbeat earnings story, Hasbro disclosed a $56 million write-down tied to cancelling several video game projects, highlighting execution risk in its gaming pipeline. GameSpot article

Analyst Ratings Changes

Several analysts recently issued reports on the company. BNP Paribas Exane cut their target price on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating and set a $110.00 price target on shares of Hasbro in a research report on Thursday, June 18th. Zacks Research cut Hasbro from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Morgan Stanley lifted their price objective on Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Roth Capital restated a “buy” rating on shares of Hasbro in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hasbro presently has an average rating of “Moderate Buy” and a consensus target price of $108.36.

Hasbro Price Performance

Shares of HAS stock opened at $89.04 on Thursday. The business’s fifty day moving average is $84.51 and its 200 day moving average is $90.34. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 4.16. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 2.19 and a beta of 0.49. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.16 by $0.12. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 earnings per share. Research analysts expect that Hasbro, Inc. will post 6.04 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.80 annualized dividend and a yield of 3.1%. Hasbro’s payout ratio is presently -168.67%.

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.