5 Stocks To Sell According to Motley Fool

4. Hasbro, Inc. (NASDAQ:HAS)

Number of Hedge Fund Holders: 33

Hasbro, Inc. (NASDAQ:HAS) is a leisure products company based in Pawtucket, Rhode Island. Its products include toys, games, and apparel.

On January 31, Goldman Sachs analyst Stephen Laszczyk downgraded Hasbro, Inc. (NASDAQ:HAS) shares from Buy to Neutral.

Between October 2022 and January 2023, Hasbro, Inc. (NASDAQ:HAS) shares have fallen by about 11.6%. The company’s revenue and net earnings were down by 5.2% and 4%, respectively, in the first nine months of 2022. Motley Fool Asset Management has also entirely eliminated its stake in the company as of the third quarter.

There were 33 hedge funds long Hasbro, Inc. (NASDAQ:HAS) in the third quarter, with a total stake value of $517 million.

ClearBridge Investments, an investment management company, mentioned Hasbro, Inc. (NASDAQ:HAS) in its third-quarter 2022 investor letter. Here’s what the firm said:

“Rising inflation pressuring consumer budgets for discretionary purchases, as well as volatile currency markets, weighed on global entertainment company Hasbro, Inc. (NASDAQ:HAS), which owns Monopoly, My Little Pony, Nerf, Play-Doh and other games and brands.  The main detractors from absolute returns were positions in Microsoft, Ball, Intel, Hasbro and McCormick (MKC).”