BlackRock Inc. Takes $2.20 Billion Position in Hasbro, Inc. $HAS

Key Points

• BlackRock acquired 26.7 million Hasbro shares worth approximately $2.20 billion, giving it an estimated 18.93% stake in the company. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro reported quarterly adjusted earnings of $1.28 per share, beating estimates of $1.16, while revenue rose 16.2% year over year to $1.14 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $109.07.
• Hasbro declared a quarterly dividend of $0.70 per share, or $2.80 annually, representing a 3.0% yield and a payout ratio of 50.36%. Shares recently traded around $93.33.

BlackRock Inc. bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,694,382 shares of the company's stock, valued at approximately $2,204,689,000. BlackRock Inc. owned approximately 18.93% of Hasbro as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in HAS. Brighton Jones LLC purchased a new stake in shares of Hasbro during the 4th quarter worth approximately $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Hasbro by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company's stock worth $1,018,000 after purchasing an additional 1,753 shares during the last quarter. Empowered Funds LLC raised its holdings in Hasbro by 95.8% during the first quarter. Empowered Funds LLC now owns 13,187 shares of the company's stock worth $811,000 after purchasing an additional 6,451 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Hasbro by 40.7% in the 1st quarter. Woodline Partners LP now owns 11,078 shares of the company's stock valued at $681,000 after buying an additional 3,203 shares during the period. Finally, Focus Partners Wealth acquired a new stake in Hasbro in the first quarter valued at $292,000. Hedge funds and other institutional investors own 91.83% of the company's stock.

Insiders Place Their Bets

In other Hasbro news, Director Elizabeth Hamren sold 1,975 shares of Hasbro 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 of the company's stock, valued at $918,744.64. The trade was a 16.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Timothy J. Kilpin sold 20,000 shares of the firm's 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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 45,415 shares of company stock valued at $4,260,164. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group reiterated a "buy" rating and set a $120.00 target price on shares of Hasbro in a research report on Monday, July 27th. BNP Paribas Exane decreased their target price on shares of Hasbro from $117.00 to $114.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 15th. Citigroup reissued a "buy" rating on shares of Hasbro in a research report on Thursday, July 23rd. Jefferies Financial Group cut their price objective on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Finally, Zacks Research cut shares of Hasbro from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Hasbro presently has a consensus rating of "Moderate Buy" and an average target price of $109.07.

Hasbro Trading Down 0.7%

Shares of Hasbro stock opened at $93.33 on Thursday. The firm has a market cap of $13.16 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.72 and a beta of 0.47. Hasbro, Inc. has a fifty-two week low of $69.50 and a fifty-two week high of $106.98. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 4.16. The business has a fifty day simple moving average of $86.74 and a 200-day simple moving average of $91.20.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The firm's quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. On average, equities analysts forecast that Hasbro, Inc. will post 6.15 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.0%. Hasbro's payout ratio is currently 50.36%.

Hasbro Profile

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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