Commerce Bank Makes New $2.67 Million Investment in Hasbro, Inc. $HAS

Key Points

• Commerce Bank acquired a new $2.67 million stake in Hasbro during the second quarter, buying 32,323 shares. Institutional investors collectively own 91.83% of the company.
• Hasbro exceeded quarterly expectations with adjusted EPS of $1.28 versus $1.16 expected and revenue of $1.14 billion, up 16.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $109.43.
• Hasbro declared a quarterly dividend of $0.70 per share, equivalent to a $2.80 annualized payout and a 2.9% yield. Company insiders sold 45,415 shares worth approximately $4.26 million during the last quarter.

Commerce Bank bought a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 32,323 shares of the company's stock, valued at approximately $2,670,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Hasbro during the second quarter valued at $1,049,000. Quantbot Technologies LP bought a new stake in shares of Hasbro during the 2nd quarter valued at about $1,673,000. Emerald Investment Advisers LLC purchased a new stake in shares of Hasbro during the 2nd quarter valued at about $1,238,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Hasbro during the 2nd quarter valued at about $1,745,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Hasbro in the 2nd quarter worth approximately $222,000. 91.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Elizabeth Hamren sold 1,975 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $92.84, for a total transaction of $183,359.00. Following the sale, the director owned 9,896 shares in the company, valued at approximately $918,744.64. This represents a 16.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,862,400.00. Following the transaction, the insider directly owned 54,229 shares of the company's stock, valued at approximately $5,049,804.48. This represents a 26.94% decrease in their ownership of the stock. 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. Insiders sold 45,415 shares of company stock valued at $4,260,164 over the last quarter. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HAS shares. BNP Paribas Exane dropped their price objective on shares of Hasbro from $117.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, July 15th. Roth Capital reiterated a "buy" rating on shares of Hasbro in a research report on Wednesday, July 22nd. Wall Street Zen cut shares of Hasbro from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Argus boosted their price objective on shares of Hasbro from $90.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group reduced their price objective on Hasbro from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $109.43.

Hasbro Price Performance

NASDAQ:HAS opened at $95.41 on Tuesday. The business's 50-day simple moving average is $87.33 and its two-hundred day simple moving average is $91.23. The stock has a market cap of $13.46 billion, a PE ratio of 17.16, a P/E/G ratio of 1.71 and a beta of 0.47. Hasbro, Inc. has a 52 week low of $69.50 and a 52 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.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business's quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.30 EPS. As a group, analysts forecast that Hasbro, Inc. will post 6.15 EPS for the current fiscal year.

Hasbro Announces Dividend

The business also recently disclosed 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. This represents a $2.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, August 19th. 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