3,502,335 Shares in Hasbro, Inc. $HAS Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 3.5 million Hasbro shares in the second quarter, worth approximately $289.3 million, giving it a 2.48% stake. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro reported quarterly EPS of $1.28, beating estimates by $0.12, while revenue reached $1.14 billion and rose 16.2% year over year.
• The company maintains a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 payout and a 3.1% yield. Analysts have a consensus “Moderate Buy” rating with an average price target of $109.43.

Bank of America Corp DE acquired a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,502,335 shares of the company's stock, valued at approximately $289,258,000. Bank of America Corp DE owned 2.48% of Hasbro as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HAS. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Hasbro by 1,190.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock valued at $32,000 after acquiring an additional 357 shares during the period. Cedar Mountain Advisors LLC purchased a new position in shares of Hasbro during the 1st quarter worth about $37,000. First Bancorp Inc ME purchased a new position in shares of Hasbro during the 2nd quarter worth about $37,000. Cassaday & Co Wealth Management LLC purchased a new stake in Hasbro in the 1st quarter worth about $39,000. Finally, Park National Corp OH bought a new stake in Hasbro in the first quarter worth about $41,000. Institutional investors own 91.83% of the company's stock.

Hasbro Stock Down 1.0%

Shares of NASDAQ HAS opened at $89.30 on Thursday. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.55 and a beta of 0.47. The stock has a 50 day moving average price of $90.80 and a 200 day moving average price of $90.30. Hasbro, Inc. has a 52-week low of $69.50 and a 52-week high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro's revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. Sell-side analysts expect that Hasbro, Inc. will post 6.16 earnings per share for the current year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.1%. Hasbro's dividend payout ratio is presently 50.36%.

Insider Buying and Selling at Hasbro

In related news, insider Timothy J. Kilpin sold 20,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total value of $1,862,400.00. Following the completion of the sale, the insider directly owned 54,229 shares of the company's stock, valued at $5,049,804.48. This represents a 26.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elizabeth Hamren sold 1,975 shares of the 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 approximately $918,744.64. The trade was a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 50,472 shares of company stock worth $4,736,533. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HAS. Roth Capital restated a "buy" rating on shares of Hasbro in a research report on Wednesday, July 22nd. BNP Paribas Exane reduced their price target on Hasbro from $117.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Bank of America dropped their price objective on Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Finally, Citigroup reaffirmed a "buy" rating on shares of Hasbro in a research report on Thursday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hasbro has a consensus rating of "Moderate Buy" and an average price target of $109.43.

Hasbro Profile

Hasbro, Inc is a global play and entertainment company that develops, markets and licenses toys, games and related entertainment experiences. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Magic: The Gathering and Dungeons & Dragons. The company serves consumers through retail, e-commerce, digital gaming, licensing and entertainment channels.

Hasbro's business includes consumer products, tabletop and digital gaming, and brand licensing.

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