Ieq Capital LLC Has $3.31 Million Stake in Hasbro, Inc. $HAS

Key Points

• Ieq Capital LLC increased its stake in Hasbro, Inc. by 92.6%, owning 53,772 shares worth approximately $3.31 million as of the latest SEC filing.
• A number of firms, including Nuveen LLC and Royal Bank of Canada, have made significant investments in Hasbro, indicating strong interest from institutional investors.
• Hasbro's earnings exceeded analyst expectations with earnings per share of $1.30, leading to a boost in price targets from various analysts, reflecting a consensus rating of "Moderate Buy."

Ieq Capital LLC grew its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 92.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,772 shares of the company's stock after purchasing an additional 25,855 shares during the period. Ieq Capital LLC's holdings in Hasbro were worth $3,306,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HAS. Itau Unibanco Holding S.A. grew its position in Hasbro by 32.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock valued at $41,000 after purchasing an additional 178 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Hasbro by 21.6% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock valued at $64,000 after acquiring an additional 186 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Hasbro by 16.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock valued at $91,000 after acquiring an additional 205 shares in the last quarter. Amalgamated Bank increased its position in shares of Hasbro by 0.9% in the first quarter. Amalgamated Bank now owns 27,783 shares of the company's stock valued at $1,708,000 after acquiring an additional 247 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in Hasbro by 130.0% during the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock worth $29,000 after acquiring an additional 269 shares in the last quarter. Institutional investors own 91.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Monness Crespi & Hardt boosted their target price on shares of Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Bank of America upped their price target on shares of Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. UBS Group lifted their price objective on shares of Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Finally, DA Davidson upped their target price on shares of Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.42.

Insider Activity at Hasbro

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

Hasbro Stock Performance

NASDAQ HAS traded up $1.13 on Thursday, reaching $80.16. The stock had a trading volume of 489,679 shares, compared to its average volume of 2,006,114. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. The company has a market cap of $11.24 billion, a P/E ratio of -19.75, a price-to-earnings-growth ratio of 1.05 and a beta of 0.59. The firm has a fifty day moving average of $77.74 and a two-hundred day moving average of $67.71. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19.

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

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a $0.70 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Hasbro's dividend payout ratio (DPR) is presently -68.97%.

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.