Emerald Investment Advisers LLC Acquires Shares of 14,985 Hasbro, Inc. $HAS

Key Points

• Emerald Investment Advisers acquired 14,985 Hasbro shares worth approximately $1.24 million during the second quarter. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro exceeded quarterly expectations, reporting $1.28 in EPS versus the $1.16 consensus estimate 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 $2.80 annually and a 3.0% yield. Insiders sold 45,415 shares worth $4.26 million over the past 90 days, including sales by an insider and a director.

Emerald Investment Advisers LLC bought a new position in Hasbro, Inc. (NASDAQ:HAS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,985 shares of the company's stock, valued at approximately $1,238,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Hasbro during the 4th quarter valued at $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hasbro by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company's stock valued at $1,018,000 after acquiring an additional 1,753 shares during the period. Empowered Funds LLC increased its position in shares of Hasbro by 95.8% in the first quarter. Empowered Funds LLC now owns 13,187 shares of the company's stock valued at $811,000 after acquiring an additional 6,451 shares during the period. Woodline Partners LP raised its stake in shares of Hasbro by 40.7% during the first quarter. Woodline Partners LP now owns 11,078 shares of the company's stock valued at $681,000 after acquiring an additional 3,203 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Hasbro during the first quarter valued at about $292,000. Institutional investors own 91.83% of the company's stock.

Insider Transactions at Hasbro

In related news, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction that occurred on 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 sale, the insider directly owned 54,229 shares in the company, valued at $5,049,804.48. The trade was a 26.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elizabeth Hamren sold 1,975 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $92.84, for a total value of $183,359.00. Following the completion of the sale, the director directly owned 9,896 shares in the company, valued at approximately $918,744.64. The trade was a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,415 shares of company stock worth $4,260,164 over the last 90 days. 0.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HAS. Bank of America cut their target price on Hasbro from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Citigroup reaffirmed a "buy" rating on shares of Hasbro in a research report on Thursday, July 23rd. Weiss Ratings upgraded Hasbro from a "sell (d+)" rating to a "hold (c+)" rating in a report on Friday, July 31st. BNP Paribas Exane cut their price objective on Hasbro from $117.00 to $114.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 15th. Finally, Zacks Research lowered Hasbro from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $109.43.

Hasbro Trading Down 0.0%

Shares of HAS opened at $93.54 on Friday. The firm's 50-day moving average price is $87.12 and its 200-day moving average price is $91.24. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 1.71 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 1-year low of $69.50 and a 1-year high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. Hasbro's revenue was up 16.2% on a year-over-year basis. Sell-side analysts anticipate that Hasbro, Inc. will post 6.15 EPS for the current year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.0%. Hasbro's dividend payout ratio is 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