Patton Fund Management Inc. Takes $267,000 Position in Hasbro, Inc. $HAS

Key Points

• Patton Fund Management Inc. has acquired a new stake in Hasbro, Inc. valued at approximately $267,000 by purchasing 3,611 shares in the 2nd quarter.
• Hasbro's stock recently opened at $75.59 and has a market capitalization of $10.60 billion, with a reported 12-month high of $82.19 and a low of $49.00.
• The company posted a quarterly earnings result, reporting an EPS of $1.30, exceeding the consensus estimate of $0.78, despite a 1.5% decline in revenue compared to the same quarter last year.

Patton Fund Management Inc. acquired a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,611 shares of the company's stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HAS. Nuveen LLC purchased a new stake in Hasbro during the first quarter valued at approximately $30,347,000. Valley Wealth Managers Inc. purchased a new stake in Hasbro during the first quarter valued at approximately $25,381,000. Dimensional Fund Advisors LP increased 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 buying an additional 227,477 shares during the last quarter. GAMMA Investing LLC increased its holdings in Hasbro by 6,871.6% during the first quarter. GAMMA Investing LLC now owns 217,306 shares of the company's stock valued at $133,620,000 after buying an additional 214,189 shares during the last quarter. Finally, Samlyn Capital LLC increased its holdings in Hasbro by 22.7% during the first quarter. Samlyn Capital LLC now owns 950,630 shares of the company's stock valued at $58,454,000 after buying an additional 176,175 shares during the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

Hasbro Price Performance

Hasbro stock opened at $75.59 on Friday. The firm has a market capitalization of $10.60 billion, a PE ratio of -18.62, a price-to-earnings-growth ratio of 0.98 and a beta of 0.59. Hasbro, Inc. has a 12-month low of $49.00 and a 12-month high of $82.19. The firm has a 50-day moving average price of $77.92 and a 200-day moving average price of $69.17. 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 (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.78 by $0.52. The company had revenue of $980.80 million for the quarter, compared to the consensus estimate of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. The firm's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. As a group, equities research analysts forecast that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have commented on HAS shares. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and upped their target price for the company from $66.00 to $85.00 in a report on Monday, June 30th. Morgan Stanley increased their price objective on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. DA Davidson increased their price objective on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Monness Crespi & Hardt upped their target price on shares of Hasbro from $80.00 to $90.00 in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Hasbro has an average rating of "Moderate Buy" and a consensus price target of $86.42.

Insider Buying and Selling

In related news, insider Roberta K. Thomson sold 1,002 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $79.81, for a total value of $79,969.62. Following the transaction, the insider owned 51,301 shares of the company's stock, valued at $4,094,332.81. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $2,193,976.00. Following the transaction, the chief executive officer directly owned 249,861 shares in the company, valued at $19,719,030.12. This trade represents a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,359 shares of company stock valued at $2,970,828 in the last 90 days. Company insiders own 0.85% of the company's stock.

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.

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