Invesco Ltd. has reduced its shareholding in Hasbro, Inc. by 15.1% during the second quarter of 2023. According to Holdings Channel, the investment firm now holds 2,637,661 shares of Hasbro, following the sale of 468,680 shares. This adjustment brings the total value of Invesco’s holdings in Hasbro to approximately $194,712,000.
The shift in Invesco’s investment strategy reflects a broader trend among institutional investors concerning Hasbro. In the same quarter, other funds made notable moves. For instance, Pittenger & Anderson Inc. acquired a new stake in Hasbro valued at $35,000. Meanwhile, IFP Advisors Inc. significantly increased its investment by 489.2%, adding 543 shares to reach a total of 654 shares, now worth $48,000. Hillsdale Investment Management Inc. also raised its position by 187.5%, owning 690 shares valued at $51,000 after purchasing an additional 450 shares.
Rothschild Investment LLC expanded its stake by 85.0% during the same period, now owning 740 shares worth $55,000. Furthermore, Resona Asset Management Co. Ltd. increased its holdings by 58.8% in the first quarter, acquiring an additional 452 shares for a total of 1,221 shares valued at $74,000. Overall, hedge funds and institutional investors collectively control 91.83% of Hasbro’s stock.
In related developments, Hasbro’s director, Hope F. Cochran, sold 4,000 shares on November 10, 2023. The transaction took place at an average price of $77.24, totaling $308,960. Following the sale, Cochran’s remaining shares are valued at approximately $1,320,958.48, reflecting an 18.96% reduction in her ownership.
Hasbro’s Financial Performance and Stock Overview
As of Monday, October 23, 2023, Hasbro’s stock opened at $81.10. The company boasts a market capitalization of $11.38 billion and a price-to-earnings ratio of -20.22. Its financial ratios indicate a quick ratio of 1.42, a current ratio of 1.70, and a debt-to-equity ratio of 7.65. Over the past year, Hasbro’s stock has fluctuated, with a low of $49.00 and a high of $83.45. The fifty-day simple moving average stands at $77.27, while the 200-day average is $75.67.
Hasbro recently reported its earnings for the third quarter, revealing earnings per share of $1.68, surpassing analysts’ expectations of $1.63. The company generated revenue of $1.39 billion, exceeding the consensus estimate of $1.35 billion. This marks an 8.3% increase in revenue compared to the same quarter last year, despite a slight decline in earnings per share from $1.73 in the previous year. Analysts anticipate that Hasbro will post an earnings per share of 4.33 for the current financial year.
Dividend Announcement and Corporate Overview
In addition to its financial results, Hasbro has declared a quarterly dividend of $0.70 per share, which was paid on December 3, 2023. The dividend represents an annualized yield of 3.5%, with an ex-dividend date set for November 19, 2023. Currently, Hasbro’s payout ratio is reported at -69.83%.
Hasbro, Inc., headquartered in the United States, operates globally across regions including Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company specializes in toys and games through various segments such as Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment.
For those interested in following the latest developments in Hasbro and its institutional holdings, resources like HoldingsChannel.com provide comprehensive insights and updates.
