Rakuten Investment Management Inc. Makes New $1.20 Million Investment in Hasbro, Inc. $HAS

Key Points

• Rakuten Investment Management purchased 14,251 Hasbro shares worth approximately $1.20 million during the second quarter. Institutional investors collectively own 91.83% of the company.
• Hasbro reported a quarterly earnings beat, with EPS of $1.28 versus the $1.16 analyst estimate and revenue of $1.14 billion, up 16.2% year over year.
• Hasbro declared a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 dividend and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $109.43.

Rakuten Investment Management Inc. purchased a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,251 shares of the company's stock, valued at approximately $1,203,000.

A number of other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new stake in shares of Hasbro during the 2nd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Hasbro in the 4th quarter worth $27,000. MUFG Securities EMEA plc bought a new position in Hasbro in the 2nd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Hasbro by 1,190.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock worth $32,000 after acquiring an additional 357 shares during the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new position in Hasbro during the 1st quarter worth $37,000. Institutional investors own 91.83% of the company's stock.

Insider Buying and Selling at Hasbro

In related news, Director Elizabeth Hamren sold 1,975 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $92.84, for a total transaction of $183,359.00. Following the completion of the sale, the director directly owned 9,896 shares of the company's stock, valued at $918,744.64. The trade was a 16.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Hight sold 3,186 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the completion of the transaction, the insider owned 67,557 shares in the company, valued at $6,330,766.47. This represents a 4.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,415 shares of company stock worth $4,260,164 in the last 90 days. Corporate insiders own 0.71% of the company's stock.

Hasbro Stock Performance

NASDAQ:HAS opened at $94.23 on Monday. Hasbro, Inc. has a 1 year low of $69.50 and a 1 year high of $106.98. The firm has a 50 day moving average of $88.20 and a 200-day moving average of $91.22. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. The stock has a market capitalization of $13.29 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.47.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The company's revenue was up 16.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Hasbro, Inc. will post 6.18 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. Hasbro's payout ratio is currently 50.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed a "buy" rating on shares of Hasbro in a research report on Thursday, July 23rd. Roth Capital reissued a "buy" rating on shares of Hasbro in a research report on Wednesday, July 22nd. UBS Group restated a "buy" rating and set a $120.00 target price on shares of Hasbro in a research note on Monday, July 27th. BNP Paribas Exane lowered their target price on Hasbro from $117.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, July 15th. Finally, Zacks Research downgraded Hasbro from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Hasbro currently has an average rating of "Moderate Buy" and an average target price of $109.43.

Hasbro Company Profile

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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