Cardinal Capital Management Acquires 7,297 Shares of Hasbro, Inc. $HAS

Key Points

• Cardinal Capital Management increased its holdings in Hasbro by 8.1% in Q2, acquiring an additional 7,297 shares, resulting in a total of 97,792 shares valued at $7.2 million.
• Hasbro's recent earnings report beat expectations with a reported $1.30 earnings per share, significantly exceeding the consensus estimate of $0.78, despite a 1.5% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.70 per share, translating to an annualized yield of 3.7%, and has a dividend payout ratio of -68.97%.

Cardinal Capital Management raised its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 97,792 shares of the company's stock after acquiring an additional 7,297 shares during the period. Cardinal Capital Management owned approximately 0.07% of Hasbro worth $7,219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HAS. Atlantic Edge Private Wealth Management LLC increased its holdings in 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 purchasing an additional 186 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake 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 acquiring an additional 202 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 205 shares during the last quarter. Amalgamated Bank increased its stake in shares of 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 last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of 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 last quarter. Institutional investors own 91.83% of the company's stock.

Hasbro Price Performance

NASDAQ:HAS opened at $74.71 on Tuesday. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31. The firm has a fifty day simple moving average of $78.04 and a 200 day simple moving average of $68.87. The stock has a market capitalization of $10.48 billion, a PE ratio of -18.40, a P/E/G ratio of 0.96 and a beta of 0.59.

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

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were issued a dividend of $0.70 per share. 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 presently -68.97%.

Insider Buying and Selling

In related news, CEO Christian P. Cocks sold 27,800 shares of Hasbro 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 completion of the transaction, the chief executive officer owned 249,861 shares in the company, valued at approximately $19,719,030.12. This trade represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy J. Kilpin sold 8,557 shares of Hasbro stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total value of $696,882.08. Following the transaction, the insider owned 44,301 shares of the company's stock, valued at $3,607,873.44. The trade was a 16.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,359 shares of company stock worth $2,970,828. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HAS shares. JPMorgan Chase & Co. upped their target price on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Monness Crespi & Hardt upped their price objective on shares of Hasbro from $80.00 to $90.00 in a research report on Wednesday, September 17th. Morgan Stanley upped their price objective on shares of Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Roth Capital increased their price target on Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, UBS Group increased their price target on Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.42.

Hasbro Profile

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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