Belpointe Asset Management LLC Purchases Shares of 3,582 Hasbro, Inc. $HAS

Key Points

• Belpointe Asset Management LLC has acquired 3,582 shares of Hasbro, Inc., valued at approximately $220,000, as part of a recent investment trend among institutional investors.
• Insider transactions reveal that CEO Christian P. Cocks and insider Roberta K. Thomson sold significant shares, indicating a decrease in their ownership positions by 10.01% and 1.92%, respectively.
• Hasbro recently announced a quarterly dividend of $0.70 per share, translating to an annual yield of 3.7%, while its stock received multiple target price increases from various analysts.

Belpointe Asset Management LLC bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,582 shares of the company's stock, valued at approximately $220,000.

Several other large investors have also recently bought and sold shares of the company. Sentry Investment Management LLC acquired a new position in shares of Hasbro in the first quarter valued at approximately $28,000. SBI Securities Co. Ltd. boosted its holdings in shares of Hasbro by 130.0% in the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after buying an additional 269 shares during the period. Allworth Financial LP boosted its holdings in shares of Hasbro by 93.2% in the first quarter. Allworth Financial LP now owns 931 shares of the company's stock valued at $56,000 after buying an additional 449 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Hasbro by 21.6% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock valued at $64,000 after buying an additional 186 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Hasbro by 299.0% during the first quarter. Blue Trust Inc. now owns 1,141 shares of the company's stock worth $70,000 after purchasing an additional 855 shares during the last quarter. Institutional investors own 91.83% of the company's stock.

Insider Transactions at Hasbro

In other news, insider Roberta K. Thomson sold 1,002 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $79.81, for a total transaction of $79,969.62. Following the completion of the sale, the insider owned 51,301 shares in the company, valued at approximately $4,094,332.81. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christian P. Cocks sold 27,800 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the sale, the chief executive officer owned 249,861 shares of the company's stock, valued at approximately $19,719,030.12. This represents a 10.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,359 shares of company stock worth $2,970,828. 0.85% of the stock is owned by insiders.

Hasbro Stock Performance

NASDAQ HAS opened at $76.00 on Tuesday. The firm has a 50-day moving average of $78.22 and a 200-day moving average of $68.48. 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 stock has a market cap of $10.66 billion, a PE ratio of -18.72, a P/E/G ratio of 1.01 and a beta of 0.59. Hasbro, Inc. has a 52-week low of $49.00 and a 52-week high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.52. The company had revenue of $980.80 million during the quarter, compared to analysts' expectations of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. Hasbro's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Wednesday, August 20th. Hasbro's dividend payout ratio (DPR) is currently -68.97%.

Analyst Ratings Changes

Several research analysts recently commented on HAS shares. Citigroup increased their target price on shares of Hasbro from $79.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley increased their target price on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Roth Capital increased their target price on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased 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. Finally, Monness Crespi & Hardt increased their target price on shares of Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.42.

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.

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