Kornitzer Capital Management Inc. KS Has $2.94 Million Position in Hasbro, Inc. $HAS

Kornitzer Capital Management Inc. KS reduced its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,830 shares of the company’s stock after selling 1,200 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Hasbro were worth $2,940,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Hasbro by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,464,038 shares of the company’s stock valued at $1,012,374,000 after acquiring an additional 105,624 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hasbro by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,287,647 shares of the company’s stock valued at $140,652,000 after acquiring an additional 227,477 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Hasbro by 7.4% during the 1st quarter. Northern Trust Corp now owns 1,422,977 shares of the company’s stock valued at $87,499,000 after acquiring an additional 98,425 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Hasbro by 15.3% during the 1st quarter. Deutsche Bank AG now owns 1,289,843 shares of the company’s stock valued at $79,312,000 after acquiring an additional 170,749 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Hasbro by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,217,361 shares of the company’s stock valued at $74,856,000 after acquiring an additional 27,547 shares in the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Stock Down 1.6%

HAS stock opened at $76.70 on Friday. The company has a debt-to-equity ratio of 7.65, a current ratio of 1.70 and a quick ratio of 1.32. Hasbro, Inc. has a 52-week low of $49.00 and a 52-week high of $82.19. The company has a 50-day moving average of $77.01 and a two-hundred day moving average of $71.40. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of -19.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Thursday, October 23rd. The company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. Hasbro had a negative net margin of 12.81% and a positive return on equity of 82.17%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, November 19th. Hasbro’s dividend payout ratio is -69.83%.

Insider Buying and Selling at Hasbro

In other Hasbro news, insider Timothy J. Kilpin sold 8,557 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total transaction of $696,882.08. Following the completion of the sale, the insider directly owned 44,301 shares in the company, valued at $3,607,873.44. This represents a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christian P. Cocks sold 27,800 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the sale, the chief executive officer owned 249,861 shares of the company’s stock, valued at $19,719,030.12. This trade represents a 10.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,359 shares of company stock worth $2,970,828 over the last ninety days. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

HAS has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Hasbro in a report on Saturday. Roth Capital set a $96.00 price objective on shares of Hasbro and gave the stock a “buy” rating in a report on Friday. Monness Crespi & Hardt upped their price objective on shares of Hasbro from $80.00 to $90.00 in a report on Wednesday, September 17th. JPMorgan Chase & Co. upped their price objective on shares of Hasbro from $75.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group upped their price objective on shares of Hasbro from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Friday. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hasbro currently has an average rating of “Moderate Buy” and an average price target of $89.18.

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.