Hasbro, Inc. $HAS Shares Bought by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its stake in Hasbro, Inc. by 75.4% during the 2nd quarter, bringing its total holdings to 10,521 shares valued at approximately $777,000.
• Analysts have raised their price targets for Hasbro, with Citigroup setting a new target at $91.00 and the overall consensus rating at "Moderate Buy."
• Hasbro recently announced a quarterly dividend of $0.70 per share, resulting in an annualized yield of 3.8%.

Pallas Capital Advisors LLC raised its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 75.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,521 shares of the company's stock after purchasing an additional 4,524 shares during the period. Pallas Capital Advisors LLC's holdings in Hasbro were worth $777,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its holdings in Hasbro by 3.9% in the first quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company's stock valued at $1,754,000 after purchasing an additional 1,072 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Hasbro by 20.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company's stock valued at $1,036,000 after acquiring an additional 2,866 shares in the last quarter. Jump Financial LLC lifted its position in shares of Hasbro by 129.5% in the first quarter. Jump Financial LLC now owns 11,020 shares of the company's stock valued at $678,000 after acquiring an additional 6,219 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hasbro by 60.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,597 shares of the company's stock valued at $1,021,000 after acquiring an additional 6,225 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Hasbro by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,772 shares of the company's stock valued at $785,000 after acquiring an additional 931 shares in the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hasbro

In other news, CEO Christian P. Cocks sold 27,800 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the completion of the transaction, the chief executive officer directly owned 249,861 shares of the company's stock, valued at approximately $19,719,030.12. This represents a 10.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Roberta K. Thomson sold 1,002 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $79.81, for a total value of $79,969.62. Following the transaction, the insider directly owned 51,301 shares of the company's stock, valued at approximately $4,094,332.81. This represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,359 shares of company stock valued at $2,970,828. 0.85% of the stock is currently owned by corporate insiders.

Hasbro Stock Down 1.0%

HAS traded down $0.73 on Friday, hitting $74.15. 2,278,645 shares of the company were exchanged, compared to its average volume of 1,359,993. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $82.19. The company has a market cap of $10.40 billion, a price-to-earnings ratio of -18.26, a price-to-earnings-growth ratio of 0.96 and a beta of 0.59. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31. The firm has a 50-day moving average price of $78.06 and a two-hundred day moving average price of $68.76.

Hasbro (NASDAQ:HAS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.78 by $0.52. The firm had revenue of $980.80 million during the quarter, compared to analysts' expectations of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.Hasbro's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 EPS. On average, equities analysts predict that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, August 20th. Hasbro's dividend payout ratio is currently -68.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HAS shares. JPMorgan Chase & Co. raised their target price on Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup lifted their price objective on Hasbro from $79.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Roth Capital lifted their price objective on Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley lifted their price objective on Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their price objective on Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Hasbro currently has a consensus rating of "Moderate Buy" and an average target price of $86.42.

Hasbro Company Profile

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.