Smith Group Asset Management LLC Has $33.38 Million Stock Position in Hasbro, Inc. $HAS

Key Points

• Smith Group Asset Management LLC increased its stake in Hasbro, Inc. by 2.8%, resulting in ownership of 452,174 shares, valued at approximately $33.38 million.
• Several analysts have raised their price targets for Hasbro, with Citigroup and Goldman Sachs upgrading their ratings and projecting price increases to as high as $91.00.
• Hasbro announced a quarterly dividend of $0.70 per share, with a dividend yield of 3.6%, scheduled for payment on December 3rd.

Smith Group Asset Management LLC increased its position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 2.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 452,174 shares of the company's stock after acquiring an additional 12,343 shares during the period. Hasbro comprises about 2.2% of Smith Group Asset Management LLC's portfolio, making the stock its 17th biggest position. Smith Group Asset Management LLC owned about 0.32% of Hasbro worth $33,379,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HAS. SBI Securities Co. Ltd. raised its position in Hasbro by 130.0% in the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after purchasing an additional 269 shares during the last quarter. Pittenger & Anderson Inc. bought a new position in Hasbro in the second quarter valued at about $35,000. IFP Advisors Inc raised its position in Hasbro by 489.2% in the second quarter. IFP Advisors Inc now owns 654 shares of the company's stock valued at $48,000 after purchasing an additional 543 shares during the last quarter. Allworth Financial LP raised its position in Hasbro by 93.2% in the first quarter. Allworth Financial LP now owns 931 shares of the company's stock valued at $56,000 after purchasing an additional 449 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its position in Hasbro by 21.6% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock valued at $64,000 after purchasing an additional 186 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HAS shares. Zacks Research downgraded Hasbro from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Citigroup upped their price target on Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. The Goldman Sachs Group upgraded Hasbro from a "neutral" rating to a "buy" rating and upped their price target for the company from $66.00 to $85.00 in a research report on Monday, June 30th. Monness Crespi & Hardt upped their price target on Hasbro from $80.00 to $90.00 in a research report on Wednesday, September 17th. Finally, DA Davidson upped their price target on Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $87.64.

Hasbro Stock Up 3.7%

Shares of Hasbro stock opened at $77.94 on Friday. Hasbro, Inc. has a one year low of $49.00 and a one year high of $82.19. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. The stock's 50-day moving average is $77.10 and its 200 day moving average is $71.08. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of -19.20, a PEG ratio of 0.97 and a beta of 0.60.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.63 by $0.05. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Hasbro's dividend payout ratio is presently -68.97%.

Insider Activity at Hasbro

In related news, insider Timothy J. Kilpin sold 8,557 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total transaction of $696,882.08. Following the sale, the insider owned 44,301 shares in the company, valued at $3,607,873.44. This represents a 16.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christian P. Cocks sold 27,800 shares of the 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 transaction, the chief executive officer owned 249,861 shares in the company, valued at approximately $19,719,030.12. The trade was a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,359 shares of company stock worth $2,970,828 in the last 90 days. Corporate 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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