Bull Harbor Capital LLC Invests $986,000 in Hasbro, Inc. $HAS

Key Points

• Bull Harbor Capital initiated a Hasbro position worth approximately $986,000 by purchasing 10,530 shares. Institutional investors collectively own 91.83% of the company.
• Hasbro reported quarterly earnings of $1.28 per share, beating estimates by $0.12, 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, and Hasbro declared a quarterly dividend of $0.70 per share, representing a 2.9% yield.

Bull Harbor Capital LLC bought a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,530 shares of the company's stock, valued at approximately $986,000.

A number of other institutional investors also recently bought and sold shares of HAS. Norges Bank bought a new stake in Hasbro during the 4th quarter valued at approximately $147,748,000. Bank of America Corp DE boosted its position in shares of Hasbro by 128.7% during the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company's stock valued at $220,089,000 after purchasing an additional 1,677,962 shares in the last quarter. AQR Capital Management LLC grew its stake in Hasbro by 47.3% in the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company's stock worth $357,286,000 after purchasing an additional 1,399,499 shares during the period. Assenagon Asset Management S.A. raised its holdings in Hasbro by 454.3% in the first quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company's stock worth $68,085,000 after purchasing an additional 596,167 shares in the last quarter. Finally, NewEdge Wealth LLC purchased a new position in Hasbro during the first quarter valued at $47,671,000. 91.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HAS has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Hasbro from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, June 1st. Argus boosted their price objective on shares of Hasbro from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Zacks Research cut shares of Hasbro from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Wall Street Zen downgraded shares of Hasbro from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Morgan Stanley lifted their target price on shares of Hasbro from $122.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $109.07.

Insiders Place Their Bets

In related news, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction dated Tuesday, July 28th. The stock was 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 approximately $5,049,804.48. This trade represents a 26.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 11,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $95.44, for a total transaction of $1,049,840.00. Following the transaction, the chief financial officer owned 88,104 shares in the company, valued at $8,408,645.76. This represents a 11.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.71% of the company's stock.

Hasbro Price Performance

Shares of HAS opened at $95.17 on Thursday. The company has a market capitalization of $13.47 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.77 and a beta of 0.49. 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 firm has a 50 day moving average of $84.27 and a 200 day moving average of $90.53. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the firm posted $1.30 EPS. The firm's quarterly revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts anticipate that Hasbro, Inc. will post 6.13 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 2.9%. 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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