Smith Group Asset Management LLC Increases Holdings in Hasbro, Inc. $HAS

Smith Group Asset Management LLC lifted its holdings in shares of Hasbro, Inc. (NASDAQ:HAS) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,638 shares of the company’s stock after purchasing an additional 36,852 shares during the period. Hasbro comprises approximately 2.6% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Smith Group Asset Management LLC’s holdings in Hasbro were worth $51,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HAS. Dorato Capital Management purchased a new stake in Hasbro during the fourth quarter worth about $1,804,000. Howard Capital Management Inc. purchased a new position in Hasbro in the fourth quarter valued at about $964,000. Nomura Asset Management Co. Ltd. boosted its stake in Hasbro by 734.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company’s stock valued at $2,770,000 after acquiring an additional 29,735 shares during the last quarter. OFI Invest Asset Management purchased a new position in Hasbro in the fourth quarter valued at about $9,758,000. Finally, Oak Thistle LLC bought a new position in shares of Hasbro during the 4th quarter valued at approximately $1,140,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Hasbro Stock Performance

Shares of HAS stock opened at $96.34 on Wednesday. The firm’s 50 day moving average is $84.14 and its 200 day moving average is $90.48. The stock has a market capitalization of $13.63 billion, a P/E ratio of 17.33, a PEG ratio of 1.66 and a beta of 0.49. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. 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 data on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $1.30 EPS. Hasbro’s revenue was up 16.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Hasbro, Inc. will post 6.13 earnings per share for the current year.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.70 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 2.9%. Hasbro’s payout ratio is 50.36%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HAS. Zacks Research lowered shares of Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Bank of America dropped their price objective on Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Wall Street Zen lowered Hasbro from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. BNP Paribas Exane decreased their target price on Hasbro from $117.00 to $114.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Finally, Roth Capital restated a “buy” rating on shares of Hasbro in a research note on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hasbro presently has an average rating of “Moderate Buy” and an average target price of $109.07.

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.