NewEdge Advisors LLC Increases Holdings in Hasbro, Inc. $HAS

NewEdge Advisors LLC grew its holdings in Hasbro, Inc. (NASDAQ:HAS) by 102.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,498 shares of the company’s stock after acquiring an additional 34,623 shares during the period. NewEdge Advisors LLC’s holdings in Hasbro were worth $6,411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HAS. Brighton Jones LLC purchased a new position in shares of Hasbro in the 4th quarter valued at about $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hasbro by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company’s stock worth $1,018,000 after purchasing an additional 1,753 shares in the last quarter. Empowered Funds LLC grew its holdings in Hasbro by 95.8% in the first quarter. Empowered Funds LLC now owns 13,187 shares of the company’s stock valued at $811,000 after purchasing an additional 6,451 shares during the period. Woodline Partners LP grew its holdings in Hasbro by 40.7% in the first quarter. Woodline Partners LP now owns 11,078 shares of the company’s stock valued at $681,000 after purchasing an additional 3,203 shares during the period. Finally, Focus Partners Wealth purchased a new stake in shares of Hasbro in the first quarter valued at approximately $292,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HAS. BNP Paribas Exane decreased their price objective on shares of Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Argus boosted their target price on shares of Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Zacks Research downgraded shares of Hasbro from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Wells Fargo & Company lowered their price objective on Hasbro from $92.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 9th. Finally, Jefferies Financial Group cut their price objective on Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Hasbro has a consensus rating of “Moderate Buy” and a consensus price target of $109.07.

Hasbro Stock Up 1.0%

Shares of NASDAQ:HAS opened at $94.49 on Tuesday. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.72 and a beta of 0.47. Hasbro, Inc. has a 12-month low of $69.50 and a 12-month high of $106.98. The business has a 50-day moving average price of $85.12 and a 200 day moving average price of $90.89. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the business posted $1.30 earnings per share. Sell-side analysts expect that Hasbro, Inc. will post 6.13 EPS for the current year.

Hasbro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s payout ratio is 50.36%.

Insider Transactions at Hasbro

In other news, CFO Gina M. Goetter sold 8,265 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $93.96, for a total value of $776,579.40. Following the completion of the transaction, the chief financial officer owned 79,839 shares in the company, valued at approximately $7,501,672.44. This represents a 9.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Timothy J. Kilpin sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the transaction, the insider owned 54,229 shares of the company’s stock, valued at $5,049,804.48. This represents a 26.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 42,451 shares of company stock valued at $3,987,379. Insiders own 0.71% of the company’s stock.

About Hasbro

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.