Park Avenue Securities LLC Purchases 33,035 Shares of Hasbro, Inc. $HAS

Key Points

• Park Avenue Securities LLC significantly increased its stake in Hasbro, acquiring 33,035 shares to bring its total holdings to 40,837 shares, valued at approximately $3,015,000 as of the latest SEC filing.
• Despite a 1.5% year-over-year revenue decline, Hasbro reported $1.30 EPS for the quarter, surpassing analysts' predictions of $0.78.
• Hasbro recently declared a quarterly dividend of $0.70, reflecting an annualized dividend of $2.80, with a dividend yield of 3.7%.

Park Avenue Securities LLC boosted its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 423.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,837 shares of the company's stock after buying an additional 33,035 shares during the period. Park Avenue Securities LLC's holdings in Hasbro were worth $3,015,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Hasbro during the 1st quarter valued at about $30,347,000. Valley Wealth Managers Inc. bought a new position in Hasbro during the first quarter worth about $25,381,000. Dimensional Fund Advisors LP boosted its holdings in Hasbro by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,287,647 shares of the company's stock valued at $140,652,000 after purchasing an additional 227,477 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Hasbro by 6,871.6% in the 1st quarter. GAMMA Investing LLC now owns 217,306 shares of the company's stock valued at $133,620,000 after purchasing an additional 214,189 shares during the period. Finally, Samlyn Capital LLC raised its holdings in shares of Hasbro by 22.7% in the 1st quarter. Samlyn Capital LLC now owns 950,630 shares of the company's stock worth $58,454,000 after buying an additional 176,175 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.

Hasbro Trading Up 0.1%

NASDAQ:HAS opened at $74.82 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of -18.43, a PEG ratio of 0.96 and a beta of 0.59. The business's 50-day moving average price is $78.03 and its two-hundred day moving average price is $68.92.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $980.80 million during the quarter, compared to analysts' expectations of $891.82 million. During the same period in the prior year, the business posted $1.22 EPS. Hasbro's revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. Hasbro's payout ratio is -68.97%.

Insider Activity at Hasbro

In other news, insider Timothy J. Kilpin sold 8,557 shares of Hasbro stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total transaction of $696,882.08. Following the transaction, the insider owned 44,301 shares in the company, valued at $3,607,873.44. The trade was a 16.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christian P. Cocks sold 27,800 shares of the business's stock in a transaction that occurred on 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 $19,719,030.12. This represents a 10.01% 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 worth $2,970,828 in the last quarter. Corporate insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

HAS has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. DA Davidson boosted their target price on shares of Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. UBS Group upped their target price on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Roth Capital lifted their price target on shares of Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Monness Crespi & Hardt boosted their price target on shares of Hasbro from $80.00 to $90.00 in a research report on Wednesday, September 17th. Eleven research analysts have rated the stock with a Buy rating and one has issued 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 $86.42.

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.

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