Hasbro, Inc. $HAS Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its holdings in shares of Hasbro, Inc. (NASDAQ:HAS) by 28.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,210 shares of the company’s stock after acquiring an additional 12,084 shares during the quarter. Truist Financial Corp’s holdings in Hasbro were worth $4,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HAS. Bank of America Corp DE lifted its holdings in shares of Hasbro by 128.7% in the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after purchasing an additional 1,677,962 shares during the last quarter. Norges Bank bought a new stake in Hasbro in the second quarter valued at $123,710,000. AQR Capital Management LLC grew its position in shares of Hasbro by 95.7% during the second quarter. AQR Capital Management LLC now owns 2,259,812 shares of the company’s stock worth $164,831,000 after acquiring an additional 1,105,004 shares during the last quarter. Mane Global Capital Management LP bought a new position in shares of Hasbro during the second quarter worth about $77,471,000. Finally, Wedge Capital Management L L P NC bought a new stake in Hasbro in the 3rd quarter valued at about $30,608,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 4,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $77.24, for a total transaction of $308,960.00. Following the completion of the transaction, the director directly owned 17,102 shares in the company, valued at approximately $1,320,958.48. The trade was a 18.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Key Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Analyst upgrade and franchise optimism: Coverage notes an analyst target hike and links the stock bounce to improved franchise monetization expectations after new licensing news. This combination of a higher target and stronger franchise outlook likely lifted investor sentiment. What’s Going On With Hasbro Stock On Wednesday?
• Positive Sentiment: Voltron licensing/toy deal: Hasbro inked a toy/licensing deal tied to Amazon MGM Studios’ upcoming Voltron movie — a direct revenue and IP-monetization opportunity that supports medium-term toy sales and licensing income. Hasbro inks toy deal for Amazon MGM Studios’ Voltron movie
• Positive Sentiment: Earnings outlook: Research outlets highlight Hasbro’s track record of earnings surprises and argue the company is positioned to beat upcoming estimates thanks to franchise tailwinds and product cadence — a fundamental positive for shares. Why Hasbro (HAS) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: New movie tie-ins expand product pipeline: Hasbro partnered with Legendary on Street Fighter toys ahead of the new movie, adding another near-term product opportunity that can drive seasonal sales and promotional synergies. Hasbro and Legendary Step Into The Ring With ‘Street Fighter’ Toys Ahead of New Movie
• Neutral Sentiment: Brand / human-interest coverage: A profile on Hasbro’s “Champion Child” product/storyline is positive PR but carries limited immediate financial implications. Full interview: How Hasbro’s ‘Champion Child’ defied the odds
• Neutral Sentiment: Creative/franchise chatter: Coverage questioning whether Hasbro influenced a Transformers character return is mostly cultural/PR-focused and unlikely to move fundamentals near-term, though it affects fan sentiment. Did Hasbro force the Transformers to bring Starscream back?
• Negative Sentiment: Lawsuit over Magic: The Gathering printing levels: A suit alleges Hasbro overprinted Magic cards, devaluing collectibles. This raises reputational risk for MTG’s collectible market, could pressure secondary-market pricing and carries potential legal/settlement costs — a material negative for a high-margin collectible franchise. Lawsuit accuses Hasbro of overprinting, devaluing Magic cards

Wall Street Analyst Weigh In

Several research firms have commented on HAS. Wall Street Zen cut shares of Hasbro from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 11th. Citigroup increased their price objective on Hasbro from $91.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Wolfe Research lifted their target price on Hasbro from $89.00 to $90.00 in a research note on Wednesday, October 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Hasbro in a research note on Monday, December 29th. Finally, Seaport Research Partners raised Hasbro to a “strong-buy” rating in a report on Monday, November 10th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.64.

Hasbro Stock Up 2.0%

HAS opened at $96.59 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 7.65. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of -24.09, a P/E/G ratio of 1.69 and a beta of 0.56. The business has a 50 day moving average of $85.01 and a 200-day moving average of $79.97. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $97.41.

About Hasbro

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.