Raymond James Financial Inc. Has $26.21 Million Stake in Hasbro, Inc. $HAS

Key Points

• Raymond James Financial Inc. increased its stake in Hasbro, Inc. by 0.9%, acquiring an additional 3,714 shares, bringing their total holdings to approximately $26.2 million.
• Hasbro reported better-than-expected earnings with $1.30 per share, significantly surpassing the analysts’ consensus estimate of $0.78, although quarterly revenue was down 1.5% year-over-year.
• The company announced a quarterly dividend of $0.70, which translates to an annualized yield of 3.4%, with dividends to be paid on September 3rd to investors of record on August 20th.

Raymond James Financial Inc. raised its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 426,233 shares of the company's stock after purchasing an additional 3,714 shares during the period. Raymond James Financial Inc. owned 0.30% of Hasbro worth $26,209,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in shares of Hasbro during the 4th quarter worth $317,000. Mariner LLC increased its stake in shares of Hasbro by 4.8% during the 4th quarter. Mariner LLC now owns 18,703 shares of the company's stock valued at $1,046,000 after acquiring an additional 851 shares during the last quarter. Jump Financial LLC increased its stake in shares of Hasbro by 50.0% during the 4th quarter. Jump Financial LLC now owns 4,801 shares of the company's stock valued at $268,000 after acquiring an additional 1,600 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Hasbro by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,060,170 shares of the company's stock worth $115,183,000 after purchasing an additional 165,919 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Hasbro by 1.1% in the 4th quarter. MetLife Investment Management LLC now owns 40,198 shares of the company's stock worth $2,247,000 after acquiring an additional 456 shares during the period. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hasbro news, insider Timothy J. Kilpin sold 8,557 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total value of $696,882.08. Following the completion of the sale, the insider directly owned 44,301 shares in the company, valued at $3,607,873.44. This represents a 16.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Roberta K. Thomson sold 1,002 shares of the stock in a transaction that occurred on 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 directly owned 51,301 shares of the company's stock, valued at $4,094,332.81. This trade represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,359 shares of company stock worth $2,970,828 over the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Hasbro Stock Performance

Shares of NASDAQ:HAS traded down $0.43 during trading on Friday, hitting $81.17. 991,055 shares of the stock were exchanged, compared to its average volume of 1,722,827. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of -19.99, a price-to-earnings-growth ratio of 1.05 and a beta of 0.60. The company's fifty day simple moving average is $77.24 and its 200-day simple moving average is $67.35. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66.

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 the consensus estimate of $0.78 by $0.52. The business had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.Hasbro's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 EPS. Sell-side analysts expect 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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, August 20th. Hasbro's dividend payout ratio is currently -68.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Monness Crespi & Hardt increased their target price on Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. DA Davidson raised their price target on Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley lifted their target price on Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, UBS Group increased their price target on Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $86.42.

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.