Pinnbrook Capital Management LP Purchases New Stake in Hasbro, Inc. $HAS

Pinnbrook Capital Management LP acquired a new position in shares of Hasbro, Inc. (NASDAQ:HAS) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 162,926 shares of the company’s stock, valued at approximately $12,027,000. Hasbro makes up about 1.4% of Pinnbrook Capital Management LP’s holdings, making the stock its 21st biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HAS. Pittenger & Anderson Inc. bought a new position in shares of Hasbro during the 2nd quarter valued at approximately $35,000. SBI Securities Co. Ltd. raised its holdings in shares of Hasbro by 130.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company’s stock worth $29,000 after purchasing an additional 269 shares during the period. IFP Advisors Inc lifted its stake in Hasbro by 489.2% in the second quarter. IFP Advisors Inc now owns 654 shares of the company’s stock valued at $48,000 after purchasing an additional 543 shares during the last quarter. Allworth Financial LP grew its holdings in Hasbro by 93.2% during the first quarter. Allworth Financial LP now owns 931 shares of the company’s stock valued at $56,000 after purchasing an additional 449 shares during the period. Finally, ST Germain D J Co. Inc. purchased a new stake in Hasbro in the second quarter worth $82,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HAS has been the topic of a number of recent research reports. Bank of America upped their price target on Hasbro from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 29th. DA Davidson boosted their price objective on Hasbro from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. UBS Group increased their target price on shares of Hasbro from $88.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hasbro in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Hasbro from $75.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.33.

Hasbro Trading Down 1.5%

Shares of HAS opened at $77.71 on Friday. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $82.19. The stock has a market cap of $10.91 billion, a PE ratio of -19.38, a P/E/G ratio of 0.98 and a beta of 0.61. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 7.65. The business’s 50-day moving average price is $76.04 and its 200-day moving average price is $73.80.

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

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Hasbro’s dividend payout ratio is presently -69.83%.

Insider Transactions at Hasbro

In related news, CEO Christian P. Cocks sold 27,800 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $78.92, for a total value of $2,193,976.00. Following the sale, the chief executive officer owned 249,861 shares in the company, valued at approximately $19,719,030.12. This trade represents a 10.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hope F. Cochran sold 4,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $77.24, for a total value of $308,960.00. Following the transaction, the director owned 17,102 shares of the company’s stock, valued at approximately $1,320,958.48. The trade was a 18.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 40,357 shares of company stock valued at $3,199,818. 0.85% of the stock is currently owned by company insiders.

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.