Redwood Investment Management LLC Buys Shares of 9,554 Hasbro, Inc. $HAS

Redwood Investment Management LLC bought a new stake in Hasbro, Inc. (NASDAQ:HAS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,554 shares of the company’s stock, valued at approximately $789,000.

A number of other institutional investors have also modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Hasbro during the fourth quarter worth approximately $27,000. CYBER HORNET ETFs LLC purchased a new position in Hasbro in the 2nd quarter valued at $25,000. MUFG Securities EMEA plc purchased a new position in Hasbro in the 2nd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Hasbro by 1,190.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 357 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new position in Hasbro in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Analyst Ratings Changes

HAS has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Bank of America lowered their target price on shares of Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Argus boosted their price target 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. Morgan Stanley increased their price target on shares of Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Jefferies Financial Group reduced their price objective on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Hasbro currently has a consensus rating of “Moderate Buy” and an average target price of $109.43.

Hasbro Trading Down 2.2%

NASDAQ:HAS opened at $94.18 on Friday. The stock has a fifty day moving average price of $88.01 and a two-hundred day moving average price of $91.24. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.76 and a beta of 0.47. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. Hasbro, Inc. has a 1 year low of $69.50 and a 1 year high of $106.98.

Hasbro (NASDAQ:HAS) last released its earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 earnings per share. As a group, sell-side analysts anticipate that Hasbro, Inc. will post 6.15 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. Hasbro’s dividend payout ratio (DPR) is 50.36%.

Insider Activity at Hasbro

In related news, CFO Gina M. Goetter sold 8,265 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $93.96, for a total transaction of $776,579.40. Following the sale, the chief financial officer owned 79,839 shares of the company’s stock, valued at approximately $7,501,672.44. The trade was a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth Hamren sold 1,975 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $92.84, for a total transaction of $183,359.00. Following the transaction, the director owned 9,896 shares in the company, valued at $918,744.64. The trade was a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,415 shares of company stock worth $4,260,164 over the last three months. 0.71% of the stock is currently owned by company insiders.

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.