IFP Advisors Inc Raises Stake in Hasbro, Inc. (HAS)
IFP Advisors Inc increased its position in Hasbro, Inc. (NASDAQ:HAS) by 4.6% during the second quarter, Holdings Channel reports. The firm owned 6,880 shares of the company’s stock after buying an additional 302 shares during the period. IFP Advisors Inc’s holdings in Hasbro were worth $767,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of HAS. Acrospire Investment Management LLC boosted its position in Hasbro by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $100,000 after buying an additional 100 shares during the period. Oakworth Capital Inc. boosted its position in Hasbro by 291.0% in the first quarter. Oakworth Capital Inc. now owns 1,126 shares of the company’s stock worth $113,000 after buying an additional 838 shares during the period. YorkBridge Wealth Partners LLC boosted its position in Hasbro by 337.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,132 shares of the company’s stock worth $113,000 after buying an additional 873 shares during the period. TrimTabs Asset Management LLC bought a new position in Hasbro during the first quarter worth approximately $119,000. Finally, Meeder Asset Management Inc. bought a new position in Hasbro during the first quarter worth approximately $131,000. 78.23% of the stock is owned by hedge funds and other institutional investors.
Shares of Hasbro, Inc. (HAS) opened at 97.82 on Friday. The firm has a market cap of $12.24 billion, a P/E ratio of 21.19 and a beta of 0.90. The firm’s 50-day moving average is $108.92 and its 200-day moving average is $101.36. Hasbro, Inc. has a 52-week low of $76.14 and a 52-week high of $116.20.
Hasbro (NASDAQ:HAS) last released its earnings results on Monday, July 24th. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.07. The company had revenue of $972.51 million during the quarter, compared to the consensus estimate of $974.19 million. Hasbro had a return on equity of 32.24% and a net margin of 11.44%. Hasbro’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. Analysts anticipate that Hasbro, Inc. will post $5.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.28 annualized dividend and a yield of 2.33%. Hasbro’s payout ratio is currently 49.35%.
HAS has been the subject of a number of research reports. Jefferies Group LLC initiated coverage on shares of Hasbro in a report on Thursday, June 8th. They issued a “buy” rating and a $125.00 target price for the company. Zacks Investment Research upgraded shares of Hasbro from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a report on Thursday, June 1st. DA Davidson reiterated a “buy” rating and issued a $118.00 price objective on shares of Hasbro in a report on Tuesday, May 23rd. Argus initiated coverage on shares of Hasbro in a report on Friday, June 16th. They issued a “buy” rating and a $128.00 price objective for the company. Finally, BidaskClub lowered shares of Hasbro from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $106.69.
In other Hasbro news, CEO Brian Goldner sold 205,656 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $105.69, for a total value of $21,735,782.64. Following the completion of the sale, the chief executive officer now owns 354,891 shares in the company, valued at $37,508,429.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas J. Jr. Courtney sold 23,201 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $106.51, for a total value of $2,471,138.51. Following the completion of the sale, the executive vice president now owns 28,511 shares of the company’s stock, valued at approximately $3,036,706.61. The disclosure for this sale can be found here. Insiders sold 814,917 shares of company stock valued at $86,222,617 in the last quarter. Corporate insiders own 11.00% of the company’s stock.
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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