Corient Private Wealth LP Has $3.02 Million Stock Position in Hasbro, Inc. $HAS

Key Points

• Corient Private Wealth increased its Hasbro stake by 48.2% in the second quarter, bringing its holdings to 36,521 shares valued at approximately $3.02 million. Institutional investors collectively own 91.83% of Hasbro.
• Analysts maintain a favorable outlook, with 12 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and a $109.43 price target versus the stock’s $87.72 opening price.
• Hasbro exceeded quarterly expectations with adjusted EPS of $1.28 and revenue of $1.14 billion, while revenue grew 16.2% year over year. The company also pays a $0.70 quarterly dividend, equivalent to a 3.2% yield.

Corient Private Wealth LP lifted its position in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 48.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,521 shares of the company's stock after buying an additional 11,873 shares during the period. Corient Private Wealth LP's holdings in Hasbro were worth $3,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HAS. Focus Partners Advisor Solutions LLC bought a new position in shares of Hasbro during the 2nd quarter valued at about $758,000. Nomura Asset Management Co. Ltd. raised its holdings in Hasbro by 734.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company's stock worth $2,770,000 after buying an additional 29,735 shares during the period. Hsbc Holdings PLC raised its holdings in Hasbro by 104.5% during the 2nd quarter. Hsbc Holdings PLC now owns 798,597 shares of the company's stock worth $66,071,000 after buying an additional 408,015 shares during the period. Capital Research Global Investors lifted its stake in Hasbro by 5.3% in the fourth quarter. Capital Research Global Investors now owns 3,225,875 shares of the company's stock valued at $264,522,000 after buying an additional 162,354 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Hasbro by 24.5% in the first quarter. California State Teachers Retirement System now owns 156,866 shares of the company's stock valued at $14,683,000 after buying an additional 30,825 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HAS. Wells Fargo & Company upped their target price on shares of Hasbro from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 20th. UBS Group reiterated a "buy" rating and issued a $120.00 price target on shares of Hasbro in a research note on Monday, July 27th. Argus boosted their price target on Hasbro from $90.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. cut their price objective on Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Finally, Roth Capital reiterated a "buy" rating on shares of Hasbro in a research note on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.43.

Hasbro Trading Up 0.2%

Shares of Hasbro stock opened at $87.72 on Tuesday. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. The stock has a market cap of $12.37 billion, a PE ratio of 15.78, a PEG ratio of 1.51 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 firm has a 50-day moving average of $91.37 and a 200-day moving average of $90.08.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 EPS 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 analyst estimates of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The company's revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. As a group, sell-side analysts forecast that Hasbro, Inc. will post 6.16 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.2%. Hasbro's dividend payout ratio (DPR) is presently 50.36%.

Insider Buying and Selling

In other Hasbro news, insider John Hight sold 3,186 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $93.71, for a total transaction of $298,560.06. Following the completion of the transaction, the insider owned 67,557 shares of the company's stock, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $1,862,400.00. Following the completion of the sale, the insider owned 54,229 shares in the company, valued at approximately $5,049,804.48. The trade was 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. In the last 90 days, insiders have sold 50,472 shares of company stock worth $4,736,533. 0.71% of the stock is owned by company insiders.

About Hasbro

Hasbro, Inc is a global play and entertainment company that develops, markets and licenses toys, games and related entertainment experiences. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Magic: The Gathering and Dungeons & Dragons. The company serves consumers through retail, e-commerce, digital gaming, licensing and entertainment channels.

Hasbro's business includes consumer products, tabletop and digital gaming, and brand licensing.

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