Sellaronda Global Management LP Takes $15.50 Million Position in Hasbro, Inc. $HAS

Sellaronda Global Management LP acquired a new position in shares of Hasbro, Inc. (NASDAQ:HAS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 210,000 shares of the company’s stock, valued at approximately $15,502,000. Hasbro makes up about 13.6% of Sellaronda Global Management LP’s investment portfolio, making the stock its 2nd largest position.

Other hedge funds have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. purchased a new stake in shares of Hasbro in the second quarter worth about $35,000. IFP Advisors Inc lifted its stake in Hasbro by 489.2% in the 2nd quarter. IFP Advisors Inc now owns 654 shares of the company’s stock worth $48,000 after purchasing an additional 543 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Hasbro by 187.5% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 690 shares of the company’s stock valued at $51,000 after purchasing an additional 450 shares during the period. Rothschild Investment LLC boosted its holdings in Hasbro by 85.0% in the 2nd quarter. Rothschild Investment LLC now owns 740 shares of the company’s stock valued at $55,000 after purchasing an additional 340 shares during the period. Finally, ST Germain D J Co. Inc. purchased a new position in shares of Hasbro during the 2nd quarter valued at $82,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HAS. Morgan Stanley lifted their price objective on Hasbro from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hasbro in a research report on Wednesday, October 8th. Wolfe Research boosted their price objective on Hasbro from $89.00 to $90.00 in a report on Wednesday, October 29th. Wall Street Zen upgraded shares of Hasbro from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Finally, Monness Crespi & Hardt lifted their target price on shares of Hasbro from $80.00 to $90.00 in a research report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hasbro has an average rating of “Moderate Buy” and an average price target of $89.33.

Hasbro Stock Performance

Shares of NASDAQ HAS opened at $82.67 on Friday. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of -20.62, a P/E/G ratio of 0.98 and a beta of 0.61. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 7.65. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $83.40. The stock’s 50-day moving average is $76.40 and its 200 day moving average is $74.91.

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

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.4%. Hasbro’s dividend payout ratio (DPR) is currently -69.83%.

Insider Buying and Selling

In related news, Director Hope F. Cochran sold 4,000 shares of Hasbro stock in a transaction on Monday, November 10th. The shares were 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 in the company, valued at $1,320,958.48. This trade represents a 18.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by insiders.

Hasbro Company Profile

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.