Hasbro, Inc. $HAS Shares Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its Hasbro stake by 80.7% in the first quarter, ending with 31,625 shares valued at approximately $2.96 million. Institutional investors and hedge funds collectively own 91.83% of Hasbro’s stock.
• Hasbro reported quarterly earnings of $1.28 per share, beating estimates of $1.16, while revenue rose 16.2% year over year to $1.14 billion. Analysts expect full-year EPS of approximately $6.13.
• Hasbro announced a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 dividend and a 3.1% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $109.07.

Empowered Funds LLC increased its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 80.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,625 shares of the company's stock after purchasing an additional 14,125 shares during the quarter. Empowered Funds LLC's holdings in Hasbro were worth $2,960,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Hasbro by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company's stock valued at $1,392,088,000 after acquiring an additional 453,038 shares during the last quarter. State Street Corp grew its holdings in shares of Hasbro by 2.1% in the 2nd quarter. State Street Corp now owns 6,508,052 shares of the company's stock worth $480,424,000 after acquiring an additional 131,678 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Hasbro by 47.3% in the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company's stock worth $357,286,000 after acquiring an additional 1,399,499 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Hasbro by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company's stock worth $299,700,000 after purchasing an additional 122,592 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Hasbro by 21.9% during the third quarter. Bank of America Corp DE now owns 3,633,213 shares of the company's stock worth $275,579,000 after purchasing an additional 651,790 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.

Hasbro Stock Performance

HAS stock opened at $91.51 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 4.16. The company has a market capitalization of $12.91 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.68 and a beta of 0.47. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The firm has a 50 day moving average of $84.61 and a two-hundred day moving average of $90.71.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating 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 business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $1.30 EPS. Hasbro's revenue for the quarter was up 16.2% on a year-over-year basis. As a group, equities analysts anticipate that Hasbro, Inc. will post 6.13 EPS for the current fiscal year.

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro's dividend payout ratio is presently 50.36%.

Insider Buying and Selling at Hasbro

In related news, insider John Hight sold 3,186 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $93.71, for a total value of $298,560.06. Following the transaction, the insider directly owned 67,557 shares of the company's stock, valued at approximately $6,330,766.47. This trade represents a 4.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy J. Kilpin sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total value of $1,862,400.00. Following the completion of the sale, the insider owned 54,229 shares of the company's stock, valued at approximately $5,049,804.48. This trade represents a 26.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 42,451 shares of company stock worth $3,987,379 over the last three months. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

HAS has been the subject of a number of recent analyst reports. Citigroup reiterated a "buy" rating on shares of Hasbro in a research report on Thursday, July 23rd. Wells Fargo & Company cut their price objective on Hasbro from $92.00 to $85.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 9th. JPMorgan Chase & Co. reduced their price objective on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a research note on Wednesday, July 22nd. Bank of America decreased their target price on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Finally, Weiss Ratings raised shares of Hasbro from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Friday. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $109.07.

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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