Kovitz Investment Group Partners LLC Cuts Position in Hasbro, Inc. (NASDAQ:HAS)

Kovitz Investment Group Partners LLC trimmed its position in Hasbro, Inc. (NASDAQ:HAS) by 43.1% during the third quarter, HoldingsChannel.com reports. The firm owned 773,561 shares of the company’s stock after selling 585,462 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Hasbro were worth $55,613,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in shares of Hasbro during the 2nd quarter valued at about $27,000. Asset Dedication LLC raised its holdings in shares of Hasbro by 290.1% during the 2nd quarter. Asset Dedication LLC now owns 472 shares of the company’s stock valued at $28,000 after buying an additional 351 shares during the period. Blue Trust Inc. raised its holdings in shares of Hasbro by 224.8% during the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company’s stock valued at $31,000 after buying an additional 299 shares during the period. True Wealth Design LLC purchased a new stake in shares of Hasbro during the 3rd quarter valued at about $31,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Hasbro during the 3rd quarter valued at about $40,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hasbro

In other news, EVP Matthew Edward Austin sold 1,718 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $65.06, for a total transaction of $111,773.08. Following the transaction, the executive vice president now owns 36,828 shares of the company’s stock, valued at approximately $2,396,029.68. This represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

HAS has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on Hasbro from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on Hasbro from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley lifted their price objective on Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Bank of America lifted their price objective on Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Hasbro Stock Down 0.2 %

Shares of Hasbro stock opened at $67.10 on Friday. The stock’s fifty day moving average is $67.32 and its 200-day moving average is $64.57. The firm has a market capitalization of $9.36 billion, a PE ratio of -14.46, a price-to-earnings-growth ratio of 0.60 and a beta of 0.62. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64. Hasbro, Inc. has a 12-month low of $46.09 and a 12-month high of $73.46.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.45. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. Hasbro’s revenue for the quarter was down 14.8% compared to the same quarter last year. Equities analysts anticipate that Hasbro, Inc. will post 3.93 earnings per share for the current year.

Hasbro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $2.80 dividend on an annualized basis and a yield of 4.17%. Hasbro’s dividend payout ratio (DPR) is currently -60.34%.

Hasbro Profile

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.