QRG Capital Management Inc. Acquires New Shares in Hasbro, Inc. $HAS

Key Points

• QRG Capital Management Inc. has acquired a new stake in Hasbro, Inc., purchasing 4,874 shares valued at approximately $360,000 during the second quarter.
• Hasbro reported $1.30 EPS for the last quarter, exceeding analyst expectations of $0.78, despite a 1.5% revenue decline compared to the previous year.
• The company announced a quarterly dividend of $0.70, representing an annual yield of 3.9%, while having a negative dividend payout ratio of -68.97%.

QRG Capital Management Inc. acquired a new stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,874 shares of the company's stock, valued at approximately $360,000.

Several other hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its position in shares of Hasbro by 35.0% during the second quarter. Truist Financial Corp now owns 42,126 shares of the company's stock valued at $3,110,000 after buying an additional 10,931 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Hasbro by 10.5% during the second quarter. Janney Montgomery Scott LLC now owns 29,060 shares of the company's stock valued at $2,145,000 after buying an additional 2,750 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Hasbro by 12.6% during the second quarter. V Square Quantitative Management LLC now owns 3,655 shares of the company's stock valued at $270,000 after buying an additional 409 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Hasbro by 5.4% during the second quarter. Sound Income Strategies LLC now owns 179,257 shares of the company's stock valued at $13,233,000 after buying an additional 9,229 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Hasbro by 4,704.1% during the second quarter. Avior Wealth Management LLC now owns 9,272 shares of the company's stock valued at $684,000 after buying an additional 9,079 shares during the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $70.95 on Friday. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $82.19. The company's 50 day moving average is $77.71 and its 200 day moving average is $70.18. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31. The company has a market cap of $9.95 billion, a PE ratio of -17.48, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, topping the consensus estimate 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 business had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. During the same quarter in the prior year, the firm posted $1.22 EPS. The business's quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, August 20th. Hasbro's dividend payout ratio is currently -68.97%.

Insiders Place Their Bets

In other Hasbro news, insider Timothy J. Kilpin sold 8,557 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total value of $696,882.08. Following the sale, the insider owned 44,301 shares in the company, valued at approximately $3,607,873.44. This represents a 16.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christian P. Cocks sold 27,800 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $78.92, for a total value of $2,193,976.00. Following the completion of the sale, the chief executive officer owned 249,861 shares in the company, valued at approximately $19,719,030.12. This represents a 10.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,359 shares of company stock worth $2,970,828. Corporate insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Hasbro in a research report on Wednesday. Bank of America increased their price target on shares of Hasbro from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Morgan Stanley increased their price target on shares of Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Citigroup upped their price objective on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.64.

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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