Freestone Grove Partners LP Purchases New Holdings in Hasbro, Inc. $HAS

Key Points

• Freestone Grove Partners acquired 345,421 Hasbro shares worth approximately $28.5 million, representing about 0.24% of the company. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro exceeded quarterly expectations with earnings of $1.28 per share versus the $1.16 consensus and revenue of $1.14 billion, up 16.2% year over year. The company declared a quarterly dividend of $0.70, equivalent to a 3.0% annualized yield.
• Shares opened at $94.18 after declining 2.2%, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $109.43. Insiders sold 45,415 shares worth approximately $4.26 million during the latest quarter.

Freestone Grove Partners LP acquired a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 345,421 shares of the company's stock, valued at approximately $28,528,000. Freestone Grove Partners LP owned approximately 0.24% of Hasbro as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Huntington National Bank boosted its stake in shares of Hasbro by 10.2% during the 4th 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 position in shares of Hasbro by 1.4% in the 2nd quarter. Marathon Mission Inc. now owns 9,152 shares of the company's stock worth $756,000 after purchasing an additional 128 shares during the last quarter. Severin Investments LLC lifted its position in shares of Hasbro by 3.1% during the first 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 last quarter. Root Financial Partners LLC grew its stake in Hasbro by 21.3% in the first quarter. Root Financial Partners LLC now owns 780 shares of the company's stock worth $73,000 after purchasing an additional 137 shares in the last quarter. Finally, United Capital Financial Advisors LLC increased its holdings in Hasbro by 2.2% in the third quarter. United Capital Financial Advisors LLC now owns 6,500 shares of the company's stock valued at $493,000 after buying an additional 139 shares during the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Hasbro news, insider John Hight sold 3,186 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 67,557 shares of the company's stock, valued at $6,330,766.47. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth Hamren sold 1,975 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $92.84, for a total transaction of $183,359.00. Following the completion of the transaction, the director owned 9,896 shares of the company's stock, valued at approximately $918,744.64. This trade represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 45,415 shares of company stock valued at $4,260,164. 0.71% of the stock is owned by company insiders.

Hasbro Stock Down 2.2%

Shares of Hasbro stock opened at $94.18 on Friday. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.76 and a beta of 0.47. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. The business's 50 day simple moving average is $88.01 and its 200-day simple moving average is $91.24.

Hasbro (NASDAQ:HAS - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm's revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 EPS. Equities research analysts forecast that Hasbro, Inc. will post 6.15 earnings per share for the current year.

Hasbro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro's dividend payout ratio (DPR) is 50.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HAS shares. JPMorgan Chase & Co. reduced their target price on Hasbro from $125.00 to $111.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Jefferies Financial Group dropped their price target on Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Zacks Research cut Hasbro from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a report on Wednesday, July 22nd. Finally, UBS Group reiterated a "buy" rating and set a $120.00 target price on shares of Hasbro in a research note on Monday, July 27th. Twelve investment 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 presently has an average rating of "Moderate Buy" and a consensus price target of $109.43.

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.

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