Picton Mahoney Asset Management Buys 6,197 Shares of Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Picton Mahoney Asset Management increased its holdings in Hasbro, Inc. by 11.8% during the first quarter, owning a total of 58,863 shares valued at approximately $3.6 million.
• Hasbro reported an EPS of $1.30 for the latest quarter, surpassing analysts' expectations of $0.78, despite a 1.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.70, resulting in an annualized dividend yield of 3.67%, with an ex-dividend date set for August 20th.

Picton Mahoney Asset Management raised its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,863 shares of the company's stock after purchasing an additional 6,197 shares during the quarter. Picton Mahoney Asset Management's holdings in Hasbro were worth $3,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its holdings in Hasbro by 3.9% during the 1st quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company's stock worth $1,754,000 after acquiring an additional 1,072 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Hasbro by 20.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company's stock worth $1,036,000 after acquiring an additional 2,866 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Hasbro by 60.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,597 shares of the company's stock worth $1,021,000 after acquiring an additional 6,225 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Hasbro during the 4th quarter worth $540,000. Finally, Polymer Capital Management US LLC purchased a new position in Hasbro during the 4th quarter worth $502,000. Institutional investors own 91.83% of the company's stock.

Hasbro Price Performance

Shares of HAS traded down $0.53 during midday trading on Friday, hitting $74.63. 2,129,307 shares of the company traded hands, compared to its average volume of 2,485,920. The stock has a 50-day moving average of $72.11 and a 200-day moving average of $64.21. Hasbro, Inc. has a one year low of $49.00 and a one year high of $78.83. The firm has a market cap of $10.46 billion, a P/E ratio of -18.38, a PEG ratio of 0.99 and a beta of 0.60. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 earnings per share 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 analysts' expectations of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. Hasbro's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 earnings per share. As a group, sell-side analysts predict that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, August 20th. Hasbro's dividend payout ratio is -68.97%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HAS shares. JPMorgan Chase & Co. lifted their price objective on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America boosted their price target on shares of Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. DA Davidson boosted their price target on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Roth Capital boosted their price target on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.27.

Hasbro 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.