Thrive Wealth Management LLC Reduces Stock Holdings in Hasbro, Inc. (NASDAQ:HAS)

Thrive Wealth Management LLC decreased its position in Hasbro, Inc. (NASDAQ:HAS) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,772 shares of the company’s stock after selling 802 shares during the quarter. Thrive Wealth Management LLC’s holdings in Hasbro were worth $326,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in Hasbro in the 3rd quarter worth approximately $238,000. Mariner LLC boosted its holdings in shares of Hasbro by 14.0% in the third quarter. Mariner LLC now owns 9,199 shares of the company’s stock valued at $608,000 after purchasing an additional 1,129 shares during the period. Stifel Financial Corp lifted its position in shares of Hasbro by 45.2% in the 3rd quarter. Stifel Financial Corp now owns 141,361 shares of the company’s stock worth $9,350,000 after purchasing an additional 44,003 shares during the period. Northern Trust Corp lifted its position in shares of Hasbro by 7.4% during the third quarter. Northern Trust Corp now owns 1,350,730 shares of the company’s stock valued at $89,337,000 after buying an additional 92,552 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Hasbro by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 59,042 shares of the company’s stock valued at $3,905,000 after buying an additional 220 shares during the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hasbro

In related news, EVP Tarrant L. Sibley sold 13,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $60.26, for a total value of $783,380.00. Following the sale, the executive vice president now owns 53,003 shares of the company’s stock, valued at approximately $3,193,960.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.82% of the company’s stock.

Hasbro Stock Performance

Shares of NASDAQ HAS traded up $0.13 during midday trading on Thursday, reaching $58.16. 1,040,996 shares of the company traded hands, compared to its average volume of 1,807,654. The stock has a 50-day moving average price of $60.36 and a 200 day moving average price of $54.67. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.93. The company has a market cap of $8.10 billion, a price-to-earnings ratio of -5.74, a PEG ratio of 0.61 and a beta of 0.65. Hasbro, Inc. has a 52 week low of $42.66 and a 52 week high of $73.57.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. Hasbro had a positive return on equity of 25.41% and a negative net margin of 29.60%. The business had revenue of $757.30 million during the quarter, compared to analyst estimates of $739.84 million. During the same quarter last year, the company posted $0.01 EPS. Hasbro’s revenue for the quarter was down 24.3% on a year-over-year basis. Sell-side analysts anticipate that Hasbro, Inc. will post 3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HAS. Roth Mkm raised their target price on Hasbro from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. DA Davidson raised their price target on shares of Hasbro from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Stifel Nicolaus upped their price objective on shares of Hasbro from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $61.00 to $74.00 in a report on Thursday, May 23rd. Finally, Monness Crespi & Hardt increased their price objective on Hasbro from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

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.