Kaufman Rossin Wealth LLC Purchases Shares of 3,688 Hasbro, Inc. $HAS

Key Points

• Kaufman Rossin Wealth LLC acquired 3,688 shares of Hasbro, Inc., valued at approximately $272,000, during the second quarter.
• Hasbro reported a quarterly EPS of $1.30, exceeding analysts' estimates by $0.52, although its revenue decreased 1.5% year over year.
• The company declared a quarterly dividend of $0.70 per share, representing an annualized yield of 3.8%.

Kaufman Rossin Wealth LLC bought a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,688 shares of the company's stock, valued at approximately $272,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Hasbro by 21.6% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock valued at $64,000 after purchasing an additional 186 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of Hasbro by 18.3% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,307 shares of the company's stock valued at $96,000 after purchasing an additional 202 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Hasbro by 16.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock valued at $91,000 after purchasing an additional 205 shares during the period. Amalgamated Bank raised its holdings in Hasbro by 0.9% in the 1st quarter. Amalgamated Bank now owns 27,783 shares of the company's stock valued at $1,708,000 after acquiring an additional 247 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in Hasbro by 130.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after acquiring an additional 269 shares during the period. Institutional investors and hedge funds own 91.83% of the company's stock.

Insider Buying and Selling at Hasbro

In other Hasbro news, insider Timothy J. Kilpin sold 8,557 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total value of $696,882.08. Following the sale, the insider owned 44,301 shares in the company, valued at $3,607,873.44. This trade represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christian P. Cocks sold 27,800 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the completion of the sale, the chief executive officer owned 249,861 shares in the company, valued at $19,719,030.12. This represents a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,359 shares of company stock worth $2,970,828 over the last quarter. Corporate insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HAS shares. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and increased their price target for the company from $66.00 to $85.00 in a report on Monday, June 30th. Morgan Stanley increased their price target on shares of Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Roth Capital increased their price target on shares of Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. UBS Group raised their target price on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Hasbro has an average rating of "Moderate Buy" and a consensus target price of $86.42.

Hasbro Price Performance

Shares of NASDAQ HAS traded up $0.56 during trading hours on Monday, hitting $74.71. 1,852,877 shares of the stock were exchanged, compared to its average volume of 1,984,248. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66. The company has a market cap of $10.48 billion, a PE ratio of -18.40, a price-to-earnings-growth ratio of 0.96 and a beta of 0.59. The company's fifty day simple moving average is $78.04 and its two-hundred day simple moving average is $68.87. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.52. The business had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.22 EPS. On average, sell-side analysts predict that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were given a $0.70 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. Hasbro's dividend payout ratio (DPR) is currently -68.97%.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.