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

Pinnbrook Capital Management LP grew its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,419 shares of the company’s stock after buying an additional 8,386 shares during the quarter. Pinnbrook Capital Management LP’s holdings in Hasbro were worth $3,970,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Hasbro by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company’s stock worth $1,392,088,000 after buying an additional 453,038 shares during the last quarter. State Street Corp raised its position in Hasbro by 2.1% during the 2nd quarter. State Street Corp now owns 6,508,052 shares of the company’s stock worth $480,424,000 after buying an additional 131,678 shares during the last quarter. Bank of America Corp DE raised its position in Hasbro by 21.9% during the 3rd quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock worth $275,579,000 after buying an additional 651,790 shares during the last quarter. AQR Capital Management LLC raised its position in Hasbro by 30.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,957,648 shares of the company’s stock worth $224,338,000 after buying an additional 697,836 shares during the last quarter. Finally, Samlyn Capital LLC increased its holdings in shares of Hasbro by 18.9% in the 3rd quarter. Samlyn Capital LLC now owns 1,546,304 shares of the company’s stock valued at $117,287,000 after purchasing an additional 245,721 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HAS. JPMorgan Chase & Co. increased their price target on shares of Hasbro from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of Hasbro from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. The Goldman Sachs Group increased their price target on shares of Hasbro from $88.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Argus set a $105.00 price target on shares of Hasbro in a report on Friday, March 13th. Finally, Bank of America increased their price target on shares of Hasbro from $113.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Hasbro has an average rating of “Moderate Buy” and a consensus price target of $113.64.

Insider Buying and Selling

In related news, CEO Christian P. Cocks sold 196,411 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $100.33, for a total value of $19,705,915.63. Following the sale, the chief executive officer directly owned 303,310 shares of the company’s stock, valued at approximately $30,431,092.30. This represents a 39.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

Hasbro News Roundup

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro reported Q1 EPS of $1.47 and revenue of about $1.0 billion, both above Wall Street expectations, with strength coming from Wizards of the Coast and digital gaming, especially Magic: The Gathering. Reuters article
• Positive Sentiment: Analysts remain constructive overall, with BNP Paribas Exane raising its price target to $117 and DA Davidson maintaining a neutral rating with a $100 target, suggesting upside from current levels. BNP Paribas article
• Positive Sentiment: Hasbro also announced new product and licensing initiatives, including Monopoly Formula 1 Edition and new Marvel Legends exclusives, which support its franchise pipeline and brand visibility. Formula 1 partnership article
• Neutral Sentiment: Hasbro held its full-year revenue growth and adjusted EBITDA outlook steady, which reassured some investors but did not provide a new catalyst after the earnings release. U.S. News article
• Negative Sentiment: Management warned that cash flow may be lumpy because a March cyberattack delayed invoicing, adding uncertainty around near-term collections and working capital. Boston Business Journal article
• Negative Sentiment: Investor sentiment was also hurt by the company’s decision to cancel a Dungeons & Dragons game and by reports that Hasbro’s shares fell after management chose not to raise full-year guidance, overshadowing the earnings beat. IGN article

Hasbro Price Performance

Shares of NASDAQ HAS opened at $90.08 on Friday. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of -54.27, a PEG ratio of 2.59 and a beta of 0.52. Hasbro, Inc. has a 52 week low of $64.74 and a 52 week high of $106.98. The company’s 50-day moving average price is $93.23 and its 200 day moving average price is $89.41. The company has a current ratio of 1.65, a quick ratio of 1.49 and a debt-to-equity ratio of 4.59.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Wednesday, May 20th. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. As a group, research analysts forecast that Hasbro, Inc. will post 5.8 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Monday, June 1st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, June 1st. Hasbro’s dividend payout ratio is presently -119.15%.

Hasbro Profile

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.