Maverick Capital Ltd. Acquires 6,585 Shares of Hasbro, Inc. $HAS

Key Points

• Maverick Capital Ltd. has significantly increased its holdings in Hasbro, Inc. by 132.8%, owning 11,543 shares valued at $710,000 as of the latest quarter.
• Multiple institutional investors, including Vanguard Group and Deutsche Bank, have also raised their stakes in Hasbro, indicating strong interest from major investors.
• Hasbro recently reported better-than-expected quarterly earnings with an EPS of $1.30, surpassing analysts' consensus estimate of $0.78.

Maverick Capital Ltd. boosted its stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 132.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,543 shares of the company's stock after acquiring an additional 6,585 shares during the period. Maverick Capital Ltd.'s holdings in Hasbro were worth $710,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC grew its stake in Hasbro by 21.6% during the first 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 stake in Hasbro by 16.2% during the first 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 grew its stake in Hasbro by 0.9% during 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 in the last quarter. SBI Securities Co. Ltd. grew its stake in Hasbro by 130.0% during the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after acquiring an additional 269 shares in the last quarter. Finally, Dakota Community Bank & Trust NA grew its stake in Hasbro by 14.3% during the first quarter. Dakota Community Bank & Trust NA now owns 2,316 shares of the company's stock valued at $142,000 after acquiring an additional 290 shares in the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hasbro

In other news, CEO Christian P. Cocks sold 27,800 shares of the firm's 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 sale, the chief executive officer owned 249,861 shares in the company, valued at approximately $19,719,030.12. This trade represents a 10.01% decrease in their position. 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 transaction of $79,969.62. Following the sale, the insider owned 51,301 shares of the company's stock, valued at $4,094,332.81. The trade was a 1.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,359 shares of company stock worth $2,970,828. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HAS shares. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and raised their target price for the company from $66.00 to $85.00 in a research note on Monday, June 30th. Citigroup raised their target price on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Bank of America increased their price objective on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Roth Capital increased their price objective on shares of Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Hasbro currently has an average rating of "Moderate Buy" and a consensus price target of $86.42.

Hasbro Trading Down 0.8%

Shares of Hasbro stock traded down $0.67 during trading on Friday, hitting $79.73. The stock had a trading volume of 1,362,054 shares, compared to its average volume of 1,485,675. The firm's fifty day simple moving average is $78.03 and its 200-day simple moving average is $67.97. The stock has a market cap of $11.18 billion, a PE ratio of -19.64, a PEG ratio of 1.04 and a beta of 0.59. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. Hasbro, Inc. has a 12 month low of $49.00 and a 12 month high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (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 analyst estimates of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. The business's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.22 EPS. As a group, sell-side analysts expect that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

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

About Hasbro

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.