California Public Employees Retirement System Cuts Stake in Hasbro, Inc. $HAS

California Public Employees Retirement System lessened its stake in Hasbro, Inc. (NASDAQ:HAS) by 47.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 289,658 shares of the company’s stock after selling 260,331 shares during the quarter. California Public Employees Retirement System’s holdings in Hasbro were worth $27,112,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new stake in Hasbro during the 2nd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Hasbro in the fourth quarter worth about $27,000. MUFG Securities EMEA plc bought a new position in shares of Hasbro in the second quarter worth approximately $28,000. Cedar Mountain Advisors LLC bought a new position in shares of Hasbro in the first quarter worth approximately $37,000. Finally, Wexford Capital LP purchased a new stake in shares of Hasbro during the third quarter valued at approximately $37,000. Institutional investors own 91.83% of the company’s stock.

Hasbro Stock Performance

Shares of HAS opened at $89.04 on Thursday. The business has a 50-day simple moving average of $84.51 and a two-hundred day simple moving average of $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. Hasbro, Inc. has a 52 week low of $69.50 and a 52 week high of $106.98. 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 (NASDAQ:HAS) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. On average, analysts expect that Hasbro, Inc. will post 6.04 EPS for the current year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, August 19th. Hasbro’s dividend payout ratio is presently -168.67%.

Trending Headlines about Hasbro

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 research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Roth Capital reaffirmed a “buy” rating on shares of Hasbro in a research report on Wednesday. Jefferies Financial Group reduced their price objective on Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Citigroup decreased their target price on Hasbro from $114.00 to $101.00 and set a “buy” rating for the company in a research report on Friday, July 10th. Finally, DA Davidson dropped their price target on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hasbro has an average rating of “Moderate Buy” and an average target price of $108.36.

Hasbro Company Profile

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.