Empowered Funds LLC Invests $1.59 Million in Hasbro, Inc. $HAS

Key Points

• Empowered Funds LLC acquired a new $1.59 million stake in Hasbro during the second quarter, buying 19,264 shares. Institutional investors collectively own 91.83% of the company.
• Hasbro reported quarterly earnings of $1.28 per share and revenue of $1.14 billion, beating analyst estimates; revenue increased 16.2% year over year. The company also maintains a quarterly dividend of $0.70, equivalent to a 3.0% annual yield.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $109.43 versus the reported share price of $93.00, although insiders sold more than $4.7 million of stock over the past three months.

Empowered Funds LLC bought a new stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,264 shares of the company's stock, valued at approximately $1,591,000.

A number of other hedge funds have also recently added to or reduced their stakes in HAS. Huntington National Bank lifted its stake in Hasbro by 10.2% in the fourth quarter. Huntington National Bank now owns 1,233 shares of the company's stock valued at $101,000 after buying an additional 114 shares during the last quarter. Marathon Mission Inc. increased its holdings in shares of Hasbro by 1.4% in the 2nd quarter. Marathon Mission Inc. now owns 9,152 shares of the company's stock valued at $756,000 after acquiring an additional 128 shares during the period. Severin Investments LLC boosted its stake in Hasbro by 3.1% during the 1st quarter. Severin Investments LLC now owns 4,595 shares of the company's stock worth $430,000 after purchasing an additional 137 shares during the period. Root Financial Partners LLC boosted its stake in Hasbro by 21.3% during the 1st quarter. Root Financial Partners LLC now owns 780 shares of the company's stock worth $73,000 after purchasing an additional 137 shares during the period. Finally, United Capital Financial Advisors LLC grew its position in Hasbro by 2.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 6,500 shares of the company's stock worth $493,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

Insider Buying and Selling

In other news, CFO Gina M. Goetter sold 8,265 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $93.96, for a total value of $776,579.40. Following the completion of the sale, the chief financial officer directly owned 79,839 shares of the company's stock, valued at $7,501,672.44. This trade represents a 9.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Holly Barbacovi sold 5,057 shares of Hasbro stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.20, for a total value of $476,369.40. Following the completion of the sale, the insider owned 37,486 shares in the company, valued at approximately $3,531,181.20. This trade represents a 11.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,472 shares of company stock worth $4,736,533 in the last three months. Company insiders own 0.71% of the company's stock.

Hasbro Stock Down 0.5%

Shares of Hasbro stock opened at $93.00 on Friday. Hasbro, Inc. has a one year low of $69.50 and a one year high of $106.98. The company has a market cap of $13.12 billion, a P/E ratio of 16.73, a PEG ratio of 1.60 and a beta of 0.47. 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 firm has a fifty day moving average of $88.97 and a two-hundred day moving average of $90.94.

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

Hasbro Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, August 19th. Hasbro's payout ratio is currently 50.36%.

Analysts Set New Price Targets

HAS has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Hasbro from $122.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. DA Davidson lowered their price target on Hasbro from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, July 22nd. UBS Group restated a "buy" rating and issued a $120.00 price target on shares of Hasbro in a research report on Monday, July 27th. 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. Finally, Bank of America decreased their price objective on Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Hasbro presently has an average rating of "Moderate Buy" and a consensus target price of $109.43.

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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