Corient Private Wealth LP Buys Shares of 83,652 Hasbro, Inc. $HAS

Key Points

• Corient Private Wealth LP acquired 83,652 Hasbro shares worth approximately $2.0 million, while institutional investors collectively own 91.83% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $109.43.
• Hasbro exceeded quarterly expectations with $1.28 in EPS and $1.14 billion in revenue, up 16.2% year over year. The company also pays a quarterly dividend of $0.70, representing a 3.0% yield.

Corient Private Wealth LP purchased a new position in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 83,652 shares of the company's stock, valued at approximately $2,013,000. Corient Private Wealth LP owned 0.06% of Hasbro at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new stake in Hasbro in the second quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Hasbro in the 4th quarter worth $27,000. MUFG Securities EMEA plc bought a new stake in shares of Hasbro in the 2nd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Hasbro by 1,190.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock valued at $32,000 after buying an additional 357 shares during the period. Finally, Wexford Capital LP acquired a new stake in shares of Hasbro in the third quarter valued at $37,000. 91.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup reaffirmed a "buy" rating on shares of Hasbro in a report on Thursday, July 23rd. Wall Street Zen downgraded shares of Hasbro from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. DA Davidson reduced their price objective on shares of Hasbro from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, July 22nd. Argus lifted 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. Finally, Morgan Stanley increased their target price on shares of Hasbro from $122.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.43.

Insiders Place Their Bets

In other news, insider Holly Barbacovi sold 5,057 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.20, for a total transaction of $476,369.40. Following the sale, the insider owned 37,486 shares in the company, valued at $3,531,181.20. The trade was a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Hight sold 3,186 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the completion of the sale, the insider owned 67,557 shares of the company's stock, valued at approximately $6,330,766.47. This trade represents a 4.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 50,472 shares of company stock valued at $4,736,533 over the last 90 days. 0.71% of the stock is owned by corporate insiders.

Hasbro Trading Up 0.3%

Shares of NASDAQ HAS opened at $93.50 on Thursday. 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, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 1.60 and a beta of 0.47. The business has a fifty day simple moving average of $88.81 and a 200-day simple moving average of $91.01.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro's revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. Sell-side analysts predict that Hasbro, Inc. will post 6.17 EPS for the current year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was 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.

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