Edgestream Partners L.P. Trims Stake in Hasbro, Inc. $HAS

Key Points

• Edgestream Partners cut its Hasbro stake by 68.6% in the first quarter, selling 41,512 shares and retaining 19,002 shares valued at approximately $1.78 million. Institutional investors collectively own 91.83% of Hasbro.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $109.07. Hasbro recently exceeded quarterly earnings and revenue estimates, reporting $1.28 EPS and $1.14 billion in revenue, up 16.2% year over year.
• Hasbro’s shares opened at $91.47, while insiders sold 42,451 shares worth nearly $4.0 million during the last quarter. The company declared a quarterly dividend of $0.70 per share, equating to a 3.1% annualized yield.

Edgestream Partners L.P. lessened its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 68.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,002 shares of the company's stock after selling 41,512 shares during the period. Edgestream Partners L.P.'s holdings in Hasbro were worth $1,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of HAS. CYBER HORNET ETFs LLC purchased a new stake in Hasbro in the 2nd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Hasbro during the fourth quarter worth about $27,000. MUFG Securities EMEA plc purchased a new position in Hasbro during the second quarter worth about $28,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Hasbro during the first quarter valued at about $37,000. Finally, Wexford Capital LP acquired a new stake in shares of Hasbro during the third quarter valued at about $37,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HAS shares. Bank of America decreased their price objective on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Roth Capital reiterated a "buy" rating on shares of Hasbro in a report on Wednesday, July 22nd. Wells Fargo & Company cut their target price on Hasbro from $92.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 9th. Jefferies Financial Group decreased their price target on Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Finally, Morgan Stanley raised their price target on Hasbro from $122.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, May 14th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hasbro presently has a consensus rating of "Moderate Buy" and an average target price of $109.07.

Insider Activity

In other 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 directly 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 filing with the SEC, which can be accessed through the SEC website. Also, CFO Gina M. Goetter sold 11,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $95.44, for a total transaction of $1,049,840.00. Following the completion of the sale, the chief financial officer directly owned 88,104 shares in the company, valued at approximately $8,408,645.76. This trade represents a 11.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 42,451 shares of company stock worth $3,987,379. 0.71% of the stock is currently owned by company insiders.

Hasbro Stock Down 2.6%

Hasbro stock opened at $91.47 on Tuesday. The firm has a market capitalization of $12.94 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.72 and a beta of 0.47. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. The stock's fifty day simple moving average is $84.54 and its 200-day simple moving average is $90.67.

Hasbro (NASDAQ:HAS - Get Free Report) last released its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $1.30 earnings per share. Hasbro's revenue was up 16.2% compared to the same quarter last year. As a group, equities analysts expect that Hasbro, Inc. will post 6.13 earnings per share 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 3.1%. The ex-dividend date is Wednesday, August 19th. Hasbro's dividend payout ratio (DPR) is presently 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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