Invesco Ltd. has reduced its stake in Hasbro, Inc. (NASDAQ: HAS) by 15.1% during the second quarter of 2023, according to Holdings Channel.com. The investment management firm now holds 2,637,661 shares after selling 468,680 shares during this period. As of the latest reporting, Invesco’s holdings in Hasbro were valued at approximately $194.71 million.
In addition to Invesco’s adjustments, other hedge funds have made notable changes to their positions in Hasbro. For instance, Pittenger & Anderson Inc. acquired a new stake in Hasbro valued at $35,000 during the second quarter. Meanwhile, IFP Advisors Inc. raised its stake by an impressive 489.2%, owning 654 shares worth $48,000 after purchasing an additional 543 shares. Hillsdale Investment Management Inc. increased its position by 187.5%, now holding 690 shares valued at $51,000. Furthermore, Rothschild Investment LLC boosted its stake by 85.0%, owning 740 shares worth $55,000 following an acquisition of 340 shares. Notably, Resona Asset Management Co. Ltd. increased its stake by 58.8%, bringing its total to 1,221 shares valued at $74,000.
Overall, hedge funds and institutional investors own approximately 91.83% of Hasbro’s stock, reflecting a strong interest in the company.
Insider Trading Activity
In related news, Hasbro Director Hope F. Cochran sold 4,000 shares of the company’s stock in a transaction that took place on November 10, 2023. The shares were sold at an average price of $77.24, resulting in a total transaction of $308,960. Following this sale, Cochran retained 17,102 shares, valued at approximately $1.32 million, which marks an 18.96% reduction in their ownership.
The sale was disclosed in an official filing with the Securities and Exchange Commission (SEC), which is accessible for public viewing. Insiders currently own 0.85% of Hasbro’s stock.
Current Stock Performance and Financial Outlook
As of the latest trading session, Hasbro’s stock opened at $81.10. The company has a market capitalization of $11.38 billion and a price-to-earnings ratio of -20.22. Its price-to-earnings-growth ratio stands at 1.58, while the stock has a beta of 0.55. Financial metrics indicate that Hasbro has a quick ratio of 1.42 and a current ratio of 1.70, with a notably high debt-to-equity ratio of 7.65.
The stock has experienced a 52-week low of $49.00 and a high of $83.45. Its fifty-day simple moving average is $77.27, and the 200-day simple moving average is $75.67.
Hasbro recently reported its earnings for the third quarter on October 23, 2023. The company achieved earnings per share of $1.68, exceeding the consensus estimate of $1.63 by $0.05. Revenue for the quarter reached $1.39 billion, surpassing the estimated $1.35 billion. This represents an increase of 8.3% compared to the same quarter last year.
Analysts project that Hasbro, Inc. will post earnings per share of $4.33 for the current fiscal year.
In addition to its financial performance, Hasbro has announced a quarterly dividend of $0.70, which was paid on December 3, 2023. Investors who were on record by November 19, 2023 received this dividend, resulting in an annualized yield of 3.5%. The company’s current payout ratio stands at -69.83%.
Hasbro, Inc. operates as a leading toy and game company with a global presence, including markets in the United States, Europe, Canada, and Asia. The company functions through various segments, including Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment.
For continuous updates on Hasbro and its market activities, investors and interested parties can access detailed reports through financial platforms.
