Corebridge Financial Inc. Decreases Stake in Hasbro, Inc. (NASDAQ:HAS)

Corebridge Financial Inc. cut its holdings in shares of Hasbro, Inc. (NASDAQ:HAS) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,501 shares of the company’s stock after selling 1,524 shares during the period. Corebridge Financial Inc.’s holdings in Hasbro were worth $1,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Allworth Financial LP grew its stake in Hasbro by 120.1% during the 4th quarter. Allworth Financial LP now owns 482 shares of the company’s stock valued at $28,000 after purchasing an additional 263 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Hasbro during the 3rd quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Hasbro during the third quarter worth approximately $45,000. Principal Securities Inc. raised its holdings in Hasbro by 16.4% in the fourth quarter. Principal Securities Inc. now owns 1,478 shares of the company’s stock valued at $83,000 after acquiring an additional 208 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its stake in Hasbro by 1,150.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,363 shares of the company’s stock valued at $171,000 after acquiring an additional 2,174 shares during the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HAS shares. StockNews.com upgraded shares of Hasbro from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. DA Davidson increased their target price on Hasbro from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Roth Mkm boosted their price target on Hasbro from $68.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus reduced their price objective on Hasbro from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $84.00 target price (down previously from $88.00) on shares of Hasbro in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.22.

Hasbro Trading Up 0.9 %

Hasbro stock opened at $62.69 on Thursday. The firm has a 50-day moving average price of $61.45 and a two-hundred day moving average price of $63.41. Hasbro, Inc. has a 52-week low of $54.26 and a 52-week high of $73.46. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 0.60 and a beta of 0.51. The company has a quick ratio of 1.29, a current ratio of 1.60 and a debt-to-equity ratio of 2.85.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.02 billion. Hasbro had a return on equity of 47.93% and a net margin of 9.32%. Sell-side analysts expect that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, March 3rd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Monday, March 3rd. Hasbro’s dividend payout ratio is currently 101.82%.

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.