JPMorgan Chase & Co. Sells 368,930 Shares of Hasbro, Inc. (NASDAQ:HAS)

JPMorgan Chase & Co. reduced its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 40.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 538,601 shares of the company’s stock after selling 368,930 shares during the period. JPMorgan Chase & Co. owned about 0.39% of Hasbro worth $38,952,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Hasbro by 7,141.6% during the third quarter. International Assets Investment Management LLC now owns 56,629 shares of the company’s stock worth $40,950,000 after purchasing an additional 55,847 shares during the last quarter. GW Henssler & Associates Ltd. bought a new stake in Hasbro during the 3rd quarter worth about $18,163,000. Charles Schwab Investment Management Inc. increased its position in Hasbro by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,184,036 shares of the company’s stock valued at $85,629,000 after acquiring an additional 8,270 shares in the last quarter. American Trust acquired a new position in shares of Hasbro during the third quarter worth approximately $634,000. Finally, Quest Partners LLC lifted its position in shares of Hasbro by 972.6% during the third quarter. Quest Partners LLC now owns 29,045 shares of the company’s stock worth $2,101,000 after purchasing an additional 26,337 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on HAS. DA Davidson boosted their price objective on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Bank of America upped their price target on Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Morgan Stanley lifted their price objective on Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Stifel Nicolaus cut their target price on shares of Hasbro from $82.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.11.

Insider Transactions at Hasbro

In related news, EVP Matthew Edward Austin sold 1,718 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $65.06, for a total value of $111,773.08. Following the completion of the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by insiders.

Hasbro Stock Performance

Shares of NASDAQ:HAS opened at $56.80 on Monday. The firm’s 50 day simple moving average is $62.22 and its 200 day simple moving average is $64.52. Hasbro, Inc. has a fifty-two week low of $46.09 and a fifty-two week high of $73.46. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of -12.24, a P/E/G ratio of 0.57 and a beta of 0.64. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.47 and a quick ratio of 1.29.

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

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were issued a $0.70 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $2.80 annualized dividend and a dividend yield of 4.93%. 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.