NewEdge Wealth LLC Invests $47.67 Million in Hasbro, Inc. $HAS

Key Points

• NewEdge Wealth LLC bought a new stake in Hasbro during the first quarter, acquiring 509,307 shares valued at about $47.67 million, or roughly 0.36% of the company.
• Hasbro’s latest quarterly results beat expectations, with EPS of $1.28 and revenue of $1.14 billion, while sales rose 16.2% year over year and management raised its full-year outlook.
• The company also declared a quarterly dividend of $0.70 per share, but it disclosed a $56 million write-down from canceled video game projects, highlighting ongoing execution risk in its gaming strategy.

NewEdge Wealth LLC acquired a new stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 509,307 shares of the company's stock, valued at approximately $47,671,000. NewEdge Wealth LLC owned about 0.36% of Hasbro at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HAS. CYBER HORNET ETFs LLC purchased a new position in shares of Hasbro during the 2nd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Hasbro in the 4th quarter worth about $27,000. MUFG Securities EMEA plc purchased a new stake in Hasbro in the 2nd quarter worth about $28,000. Cedar Mountain Advisors LLC bought a new stake in Hasbro in the 1st quarter valued at about $37,000. Finally, Wexford Capital LP purchased a new stake in Hasbro during the third quarter valued at about $37,000. 91.83% of the stock is owned by institutional investors.

Hasbro News Summary

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro reported Q2 earnings and revenue that beat Wall Street estimates, with sales up 16% year over year and management raising its full-year outlook for revenue, profit, margins, and EBITDA. Reuters article
• Positive Sentiment: Wizards of the Coast and digital gaming were the main growth drivers, with record Magic: The Gathering demand helping offset softer areas and signaling that Hasbro’s higher-margin franchise strategy is working. WSJ article
• Positive Sentiment: Several analysts reiterated bullish ratings after the quarter, and the company also announced a quarterly dividend, which can support investor confidence. TipRanks article
• Neutral Sentiment: Hasbro unveiled official Legend of Zelda toy figures tied to the franchise’s 40th anniversary, which adds a positive brand and licensing angle but is not yet a confirmed earnings driver. IGN article
• Negative Sentiment: Offsetting the upbeat earnings story, Hasbro disclosed a $56 million write-down tied to cancelling several video game projects, highlighting execution risk in its gaming pipeline. GameSpot article

Hasbro Stock Up 0.3%

HAS stock opened at $89.04 on Thursday. The stock has a 50-day simple moving average of $84.51 and a two-hundred day simple moving average of $90.34. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. The firm has a market capitalization of $12.60 billion, a PE ratio of 16.01, a PEG ratio of 2.19 and a beta of 0.49. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The company's revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities analysts predict that Hasbro, Inc. will post 6.04 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro's dividend payout ratio is -168.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HAS shares. Wall Street Zen lowered shares of Hasbro from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. Zacks Research lowered shares of Hasbro from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Roth Capital restated a "buy" rating on shares of Hasbro in a research note on Wednesday. Weiss Ratings downgraded shares of Hasbro from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, June 1st. Finally, UBS Group reiterated a "buy" rating and issued a $110.00 price objective on shares of Hasbro in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $108.36.

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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