NewEdge Advisors LLC Acquires 425,562 Shares of Hasbro, Inc. $HAS

Key Points

• NewEdge Advisors significantly increased its Hasbro position by 425,562 shares, bringing its holdings to 494,060 shares worth approximately $40.8 million. Institutional investors collectively own 91.83% of Hasbro.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $109.43.
• Hasbro exceeded quarterly expectations, reporting $1.28 in earnings per share and $1.14 billion in revenue, with revenue up 16.2% year over year. The company also pays a quarterly dividend of $0.70, yielding about 3.1% annually.

NewEdge Advisors LLC raised its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 621.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 494,060 shares of the company's stock after buying an additional 425,562 shares during the period. NewEdge Advisors LLC owned 0.35% of Hasbro worth $40,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC acquired a new stake in shares of Hasbro in the second quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Hasbro during the fourth quarter worth about $27,000. MUFG Securities EMEA plc acquired a new position in Hasbro during the second quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Hasbro by 1,190.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 357 shares in the last quarter. Finally, Cedar Mountain Advisors LLC bought a new position in Hasbro in the first quarter valued at approximately $37,000. 91.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HAS has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group cut their target price on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Morgan Stanley lifted their target price on Hasbro from $122.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. DA Davidson dropped their price target on Hasbro from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 22nd. Finally, BNP Paribas Exane cut their price target on Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $109.43.

Hasbro Stock Performance

NASDAQ:HAS opened at $88.97 on Thursday. The stock has a market cap of $12.55 billion, a P/E ratio of 16.00, a PEG ratio of 1.55 and a beta of 0.47. The stock has a 50 day simple moving average of $89.58 and a 200 day simple moving average of $90.64. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. Hasbro, Inc. has a 1-year low of $69.50 and a 1-year high of $106.98.

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, beating analysts' consensus estimates of $1.16 by $0.12. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The company's revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Research analysts anticipate that Hasbro, Inc. will post 6.16 earnings per share for the current year.

Hasbro Announces Dividend

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

Insiders Place Their Bets

In other Hasbro news, insider John Hight sold 3,186 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the transaction, the insider owned 67,557 shares in the company, valued at $6,330,766.47. This represents a 4.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gina M. Goetter sold 11,000 shares of Hasbro stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $95.44, for a total transaction of $1,049,840.00. Following the completion of the sale, the chief financial officer owned 88,104 shares of the company's stock, valued at approximately $8,408,645.76. The trade was a 11.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 50,472 shares of company stock valued at $4,736,533 in the last three months. Insiders own 0.71% of the company's stock.

Hasbro Profile

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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