Hasbro, Inc. (HAS) Stake Boosted by Smith Asset Management Group LP
Smith Asset Management Group LP raised its position in Hasbro, Inc. (NASDAQ:HAS) by 73.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 399,200 shares of the company’s stock after buying an additional 168,800 shares during the period. Hasbro makes up approximately 1.4% of Smith Asset Management Group LP’s holdings, making the stock its 15th largest position. Smith Asset Management Group LP’s holdings in Hasbro were worth $44,515,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale raised its position in shares of Hasbro by 21.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 11,366 shares of the company’s stock worth $1,311,000 after buying an additional 2,008 shares in the last quarter. First Trust Advisors LP raised its position in shares of Hasbro by 23.3% in the second quarter. First Trust Advisors LP now owns 278,555 shares of the company’s stock valued at $31,062,000 after buying an additional 52,661 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Hasbro by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 687,165 shares of the company’s stock valued at $76,626,000 after buying an additional 34,747 shares during the period. Wetherby Asset Management Inc. raised its position in shares of Hasbro by 15.5% in the second quarter. Wetherby Asset Management Inc. now owns 4,302 shares of the company’s stock valued at $480,000 after buying an additional 577 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Hasbro by 3.1% in the second quarter. Canada Pension Plan Investment Board now owns 119,100 shares of the company’s stock valued at $13,281,000 after buying an additional 3,625 shares during the period. 78.23% of the stock is currently owned by institutional investors.
Shares of Hasbro, Inc. (NASDAQ HAS) opened at 97.82 on Friday. Hasbro, Inc. has a one year low of $76.14 and a one year high of $116.20. The firm has a market capitalization of $12.24 billion, a P/E ratio of 21.19 and a beta of 0.90. The company has a 50-day moving average price of $108.92 and a 200 day moving average price of $101.36.
Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Monday, July 24th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. Hasbro had a net margin of 11.44% and a return on equity of 32.24%. The business had revenue of $972.51 million during the quarter, compared to analyst estimates of $974.19 million. During the same quarter in the previous year, the business earned $0.41 EPS. Hasbro’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts expect that Hasbro, Inc. will post $5.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, October 31st. Hasbro’s payout ratio is presently 49.35%.
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Several research analysts recently weighed in on the company. Barclays PLC cut their target price on Hasbro from $109.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 target price (up from $95.00) on shares of Hasbro in a research report on Tuesday, April 25th. Jefferies Group LLC assumed coverage on Hasbro in a research report on Thursday, June 8th. They issued a “buy” rating and a $125.00 target price on the stock. Zacks Investment Research lowered Hasbro from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Finally, BidaskClub raised Hasbro from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $106.69.
In related news, Director Alan G. Hassenfeld sold 216,851 shares of Hasbro stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $106.07, for a total value of $23,001,385.57. Following the completion of the sale, the director now owns 29,140 shares of the company’s stock, valued at approximately $3,090,879.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan G. Hassenfeld sold 280,906 shares of Hasbro stock in a transaction on Monday, July 31st. The shares were sold at an average price of $105.68, for a total transaction of $29,686,146.08. Following the completion of the sale, the director now directly owns 29,140 shares of the company’s stock, valued at approximately $3,079,515.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 814,917 shares of company stock valued at $86,222,617. 11.00% of the stock is owned by company insiders.
Hasbro Company Profile
Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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