PNC Financial Services Group Inc. Sells 2,752 Shares of Hasbro, Inc. (NASDAQ:HAS)

PNC Financial Services Group Inc. lowered its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 8.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,927 shares of the company’s stock after selling 2,752 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hasbro were worth $1,528,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Hasbro by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 15,752,627 shares of the company’s stock worth $1,041,879,000 after buying an additional 55,258 shares during the period. Capital Research Global Investors lifted its holdings in shares of Hasbro by 27.0% in the 4th quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock worth $785,367,000 after buying an additional 3,273,563 shares during the period. Cooke & Bieler LP lifted its holdings in shares of Hasbro by 31.6% in the 4th quarter. Cooke & Bieler LP now owns 3,188,417 shares of the company’s stock worth $162,801,000 after buying an additional 765,898 shares during the period. London Co. of Virginia lifted its holdings in shares of Hasbro by 1.0% in the 3rd quarter. London Co. of Virginia now owns 2,225,403 shares of the company’s stock worth $147,188,000 after buying an additional 21,634 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Hasbro by 26.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,441,228 shares of the company’s stock worth $73,593,000 after buying an additional 300,420 shares during the period. Institutional investors own 91.83% of the company’s stock.

Insider Activity

In other news, EVP Tarrant L. Sibley sold 13,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $60.26, for a total value of $783,380.00. Following the transaction, the executive vice president now directly owns 53,003 shares of the company’s stock, valued at $3,193,960.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Hasbro Trading Up 2.7 %

Shares of NASDAQ:HAS opened at $62.26 on Friday. The business’s 50-day moving average is $60.02 and its 200 day moving average is $54.37. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.93. The firm has a market capitalization of $8.67 billion, a P/E ratio of -6.14, a P/E/G ratio of 0.63 and a beta of 0.65. Hasbro, Inc. has a 1 year low of $42.66 and a 1 year high of $73.57.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. The business had revenue of $757.30 million for the quarter, compared to analyst estimates of $739.84 million. Hasbro had a positive return on equity of 25.41% and a negative net margin of 29.60%. The company’s revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. On average, research analysts predict that Hasbro, Inc. will post 3.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HAS. StockNews.com upgraded Hasbro from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Jefferies Financial Group upped their target price on Hasbro from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Monness Crespi & Hardt boosted their price target on Hasbro from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Bank of America raised Hasbro from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $80.00 in a research report on Friday, June 14th. Finally, Stifel Nicolaus boosted their price target on Hasbro from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Hasbro currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

About Hasbro

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.