Hasbro, Inc. $HAS Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its holdings in Hasbro, Inc. (NASDAQ:HAS) by 31.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,555 shares of the company’s stock after selling 11,265 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Hasbro were worth $2,298,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HAS. Norges Bank acquired a new position in Hasbro in the fourth quarter valued at $147,748,000. Bank of America Corp DE grew its holdings in shares of Hasbro by 128.7% during the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after buying an additional 1,677,962 shares during the last quarter. AQR Capital Management LLC increased its position in Hasbro by 47.3% in the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock valued at $357,286,000 after acquiring an additional 1,399,499 shares during the period. Assenagon Asset Management S.A. increased its position in Hasbro by 454.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company’s stock valued at $68,085,000 after acquiring an additional 596,167 shares during the period. Finally, Amundi raised its stake in Hasbro by 55.5% during the 4th quarter. Amundi now owns 1,403,288 shares of the company’s stock valued at $115,070,000 after acquiring an additional 501,117 shares during the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

Key Headlines Impacting Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro unveiled Blooms by Play-Doh, a new adult-focused product line that expands the iconic brand beyond kids’ toys and could open a fresh revenue stream. Hasbro Introduces Blooms by Play-Doh, A New Creative Experience Designed for Adults
• Positive Sentiment: Hasbro also highlighted a Transformers crossover strategy, including a first-of-its-kind multipack and a Transformers x Scooby-Doo figure, reinforcing its ability to monetize beloved brands through new collectibles and fan-driven products. Hasbro Reveals a First-of-Its-Kind Transformers Multipack [EXCLUSIVE]
• Neutral Sentiment: Hasbro continues to lean into its “aging up” strategy, using influencers and adult-oriented branding to broaden Play-Doh’s appeal; the concept is promising, but execution risk remains after an earlier adult Play-Doh effort fell short. Hasbro’s ‘Aging Up’ Strategy Continues With a Reattempt at Adult Play-Doh
• Neutral Sentiment: Citigroup lowered its price target on Hasbro (HAS) to $101 from $114, but maintained a Buy rating, signaling confidence in upside even after the cut. Benzinga

Wall Street Analyst Weigh In

A number of analysts have weighed in on HAS shares. JPMorgan Chase & Co. increased their price objective on Hasbro from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. UBS Group reissued a “buy” rating and issued a $110.00 target price on shares of Hasbro in a report on Thursday, June 18th. Weiss Ratings downgraded Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, June 1st. DA Davidson reiterated a “neutral” rating and issued a $100.00 price objective on shares of Hasbro in a research report on Thursday, May 21st. Finally, BNP Paribas Exane boosted their price objective on shares of Hasbro from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.21.

Hasbro Price Performance

HAS opened at $78.96 on Monday. The stock has a market capitalization of $11.17 billion, a P/E ratio of -47.57, a P/E/G ratio of 1.92 and a beta of 0.49. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The business has a 50 day simple moving average of $86.62 and a 200-day simple moving average of $90.31. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.65 and a quick ratio of 1.49.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.20 by $0.27. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The business had revenue of $1 billion for the quarter, compared to analyst estimates of $969.20 million. During the same quarter in the previous year, the company earned $1.04 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that Hasbro, Inc. will post 6.03 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Monday, June 1st were given a $0.70 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Hasbro’s dividend payout ratio (DPR) is currently -168.67%.

Hasbro Company Profile

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.