Lazard Asset Management LLC cut its stake in Hasbro, Inc. (NASDAQ:HAS) by 75.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,332 shares of the company’s stock after selling 111,881 shares during the period. Lazard Asset Management LLC’s holdings in Hasbro were worth $3,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of HAS. Victory Capital Management Inc. grew its position in Hasbro by 160.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,860,233 shares of the company’s stock worth $169,076,000 after acquiring an additional 1,145,999 shares during the period. Schroder Investment Management Group grew its position in Hasbro by 1,065.5% in the fourth quarter. Schroder Investment Management Group now owns 1,060,823 shares of the company’s stock worth $96,418,000 after acquiring an additional 969,806 shares during the period. Boston Partners grew its position in Hasbro by 111.8% in the third quarter. Boston Partners now owns 1,259,062 shares of the company’s stock worth $122,973,000 after acquiring an additional 664,474 shares during the period. Wells Fargo & Company MN grew its position in Hasbro by 15.0% in the fourth quarter. Wells Fargo & Company MN now owns 3,267,434 shares of the company’s stock worth $296,977,000 after acquiring an additional 426,136 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Hasbro by 38.9% in the third quarter. Ameriprise Financial Inc. now owns 1,440,532 shares of the company’s stock worth $140,539,000 after acquiring an additional 403,580 shares during the period. Institutional investors and hedge funds own 79.49% of the company’s stock.
Several research analysts recently weighed in on the company. BMO Capital Markets lowered their price objective on Hasbro from $100.00 to $96.00 and set a “market perform” rating for the company in a research report on Thursday. They noted that the move was a valuation call. Stifel Nicolaus lowered their price objective on Hasbro from $100.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, January 30th. BidaskClub upgraded Hasbro from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Zacks Investment Research lowered Hasbro from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Finally, B. Riley increased their price objective on Hasbro from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $109.50.
Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Wednesday, February 7th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $1.82 by $0.48. Hasbro had a return on equity of 36.36% and a net margin of 7.61%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. equities research analysts predict that Hasbro, Inc. will post 5.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be given a dividend of $0.63 per share. This is a positive change from Hasbro’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Monday, April 30th. Hasbro’s dividend payout ratio (DPR) is currently 73.08%.
In other news, EVP Thomas J. Jr. Courtney sold 8,884 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $97.51, for a total value of $866,278.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Wiebe Tinga sold 3,955 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $97.19, for a total value of $384,386.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 394,435 shares of company stock valued at $38,337,975. Company insiders own 11.00% of the company’s stock.
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Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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