22,727 Shares in Hasbro, Inc. $HAS Acquired by Procyon Advisors LLC

Key Points

• Procyon Advisors LLC initiated a new position in Hasbro during the first quarter, buying 22,727 shares worth about $2.13 million.
• Institutional ownership in Hasbro remains heavy, with hedge funds and other investors holding 91.83% of the stock. Several firms, including JPMorgan Chase, also increased their stakes recently.
• Hasbro reported better-than-expected Q1 earnings, with EPS of $1.47 versus the $1.20 estimate and revenue up 12.7% year over year. The company also paid a quarterly dividend of $0.70 per share, yielding about 3.5% annually.

Procyon Advisors LLC bought a new stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,727 shares of the company's stock, valued at approximately $2,127,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Hasbro by 24.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 744,270 shares of the company's stock valued at $56,455,000 after acquiring an additional 147,227 shares during the period. 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 stake in Hasbro during the fourth quarter worth about $964,000. OFI Invest Asset Management acquired a new stake in shares of Hasbro during the fourth quarter worth about $9,758,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Hasbro by 734.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company's stock worth $2,770,000 after purchasing an additional 29,735 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

Hasbro Price Performance

Shares of HAS opened at $79.53 on Tuesday. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of -47.91, a PEG ratio of 1.92 and a beta of 0.49. The firm's fifty day simple moving average is $86.29 and its 200-day simple moving average is $90.30. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. 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 - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.27. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The company's revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Equities analysts forecast that Hasbro, Inc. will post 6.03 EPS for the current fiscal year.

Hasbro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Monday, June 1st were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 1st. Hasbro's dividend payout ratio is currently -168.67%.

Wall Street Analyst Weigh In

HAS has been the subject of a number of research reports. UBS Group restated a "buy" rating and issued a $110.00 price objective on shares of Hasbro in a report on Thursday, June 18th. Wall Street Zen lowered shares of Hasbro from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. DA Davidson reissued a "neutral" rating and issued a $100.00 price target on shares of Hasbro in a research report on Thursday, May 21st. Weiss Ratings lowered Hasbro from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 1st. Finally, Zacks Research upgraded Hasbro from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $112.21.

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.

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