AXQ Capital LP Takes Position in Hasbro, Inc. $HAS

AXQ Capital LP purchased a new position in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,210 shares of the company's stock, valued at approximately $1,834,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Hasbro in the 2nd quarter valued at $2,204,689,000. Bank of America Corp DE acquired a new stake in shares of Hasbro during the second quarter worth approximately $289,258,000. Norges Bank acquired a new stake in shares of Hasbro during the fourth quarter worth approximately $147,748,000. Bank of New York Mellon Corp bought a new position in shares of Hasbro in the second quarter valued at approximately $130,731,000. Finally, AQR Capital Management LLC raised its stake in shares of Hasbro by 47.3% in the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company's stock valued at $357,286,000 after acquiring an additional 1,399,499 shares during the last quarter. Institutional investors own 91.83% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on HAS. UBS Group restated a "buy" rating and set a $120.00 price target on shares of Hasbro in a research report on Monday, July 27th. Bank of America cut their price objective on Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Wells Fargo & Company upped their price target on shares of Hasbro from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. decreased their price target on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered shares of Hasbro from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Twelve 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, Hasbro currently has an average rating of "Moderate Buy" and an average target price of $109.43.

Insiders Place Their Bets

In other news, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction that occurred on 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 sale, the insider directly owned 54,229 shares in the company, valued at $5,049,804.48. This trade represents a 26.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gina M. Goetter sold 8,265 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $93.96, for a total transaction of $776,579.40. Following the completion of the sale, the chief financial officer directly owned 79,839 shares in the company, valued at approximately $7,501,672.44. This represents a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,472 shares of company stock worth $4,736,533 in the last 90 days. Company insiders own 0.71% of the company's stock.

Key Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro and Krystal are launching new Hasbro-themed kids’ meals, including toys and a promotional 99-cent Sunday offer. The partnership could provide incremental licensing revenue and broaden exposure to families. Krystal, Hasbro partner on new kids’ meals
• Positive Sentiment: Netflix is reportedly developing a Dungeons & Dragons series titled Ravenloft. A new screen adaptation could increase the franchise’s visibility and support merchandise, licensing and digital-game opportunities for Hasbro. Dungeons & Dragons Series Ravenloft in Works at Netflix
• Positive Sentiment: Hasbro is promoting a Transformers collaboration with the NFL through Hasbro Pulse, creating a cross-category collectible opportunity and potentially supporting direct-to-consumer sales. Transformers and the NFL Collide on Hasbro Pulse
• Positive Sentiment: Coverage of the upcoming Hasbro KPop Demon Hunters toys points to another entertainment-based product launch that could add seasonal sales and licensing momentum, although timing and demand remain important. KPop Demon Hunters toys update
• Neutral Sentiment: Hasbro’s CEO has assumed direct responsibility for Dungeons & Dragons and Magic: The Gathering, signaling that management views the brands as strategically important. The move could improve execution but also increases leadership concentration. Hasbro CEO takes direct charge of D&D and Magic
• Neutral Sentiment: Hasbro is marketing a Trivial Pursuit Master Edition featuring 3,000 questions. The product refresh is modestly supportive for the catalog but is unlikely to materially affect the company’s valuation. Trivial Pursuit Master Edition
• Negative Sentiment: Hasbro is reportedly seeking another studio to make Dungeons & Dragons 2. The search suggests development uncertainty and could delay the sequel, limiting near-term benefits from the film franchise. Hasbro seeks another studio for Dungeons & Dragons 2

Hasbro Trading Down 0.5%

Shares of NASDAQ:HAS opened at $92.53 on Friday. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.60 and a beta of 0.47. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The company's fifty day simple moving average is $89.12 and its 200 day simple moving average is $90.95. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The company's revenue was up 16.2% on a year-over-year basis. As a group, research analysts forecast that Hasbro, Inc. will post 6.17 EPS for the current fiscal year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.0%. Hasbro's dividend payout ratio (DPR) is presently 50.36%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source