NewEdge Wealth LLC Takes Position in Hasbro, Inc. $HAS

Key Points

• NewEdge Wealth LLC initiated a Hasbro position by purchasing 528,051 shares worth approximately $43.6 million, representing about 0.37% of the company. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro exceeded quarterly expectations, reporting $1.28 in earnings per share and $1.14 billion in revenue, with revenue rising 16.2% year over year.
• Hasbro declared a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 payout and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $109.07.

NewEdge Wealth LLC purchased a new position in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 528,051 shares of the company's stock, valued at approximately $43,612,000. NewEdge Wealth LLC owned approximately 0.37% of Hasbro at the end of the most recent reporting period.

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 in the 2nd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Hasbro in the fourth quarter worth $27,000. MUFG Securities EMEA plc purchased a new stake in Hasbro in the second quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 worth $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 worth $37,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Trading Down 0.7%

Hasbro stock opened at $93.33 on Thursday. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.72 and a beta of 0.47. The business's fifty day simple moving average is $86.74 and its two-hundred day simple moving average is $91.20. 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 (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The company's revenue was up 16.2% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. As a group, equities analysts predict that Hasbro, Inc. will post 6.15 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, August 19th. Hasbro's dividend payout ratio (DPR) is currently 50.36%.

Insider Activity

In other Hasbro news, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total value of $1,862,400.00. Following the completion of the transaction, the insider directly owned 54,229 shares of the company's stock, valued at approximately $5,049,804.48. The trade was a 26.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gina M. Goetter sold 8,265 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $93.96, for a total transaction of $776,579.40. Following the completion of the transaction, the chief financial officer owned 79,839 shares in the company, valued at approximately $7,501,672.44. This represents a 9.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,415 shares of company stock valued at $4,260,164 in the last quarter. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HAS shares. Jefferies Financial Group dropped their target price on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Citigroup reiterated a "buy" rating on shares of Hasbro in a research note on Thursday, July 23rd. BNP Paribas Exane lowered their price target on shares of Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a research report on Wednesday, July 15th. Bank of America dropped their price objective on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Finally, Wall Street Zen cut shares of Hasbro from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $109.07.

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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