Insider Selling: Hasbro Chairman Unloads 493,827 Shares of Stock (HAS)
Hasbro (NYSE:HAS) Chairman Alfred J. Verrecchia unloaded 493,827 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $52.18, for a total value of $25,767,892.86. Following the sale, the chairman now directly owns 525,176 shares in the company, valued at approximately $27,403,684. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
HAS has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Hasbro in a research note on Tuesday, July 29th. They now have a $59.00 price target on the stock, down previously from $64.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Hasbro in a research note on Tuesday, July 22nd. They now have a $54.00 price target on the stock. Finally, analysts at Barclays upgraded shares of Hasbro from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 22nd. They now have a $59.00 price target on the stock, up previously from $58.00. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Hasbro presently has a consensus rating of “Hold” and a consensus price target of $55.38.
Shares of Hasbro (NYSE:HAS) traded down 0.27% on Thursday, hitting $52.12. The stock had a trading volume of 528,438 shares. Hasbro has a 52-week low of $45.15 and a 52-week high of $56.91. The stock’s 50-day moving average is $51.70 and its 200-day moving average is $53.49. The company has a market cap of $6.644 billion and a P/E ratio of 21.44.
Hasbro (NYSE:HAS) last announced its earnings results on Monday, July 21st. The company reported $0.36 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.36. The company had revenue of $829.30 million for the quarter, compared to the consensus estimate of $839.00 million. During the same quarter last year, the company posted $0.29 earnings per share. Hasbro’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Hasbro will post $3.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 17th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Thursday, October 30th.
Hasbro, Inc, engaged in providing children’s and family leisure time products with a range of portfolio of brands and entertainment properties.
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