Smith Group Asset Management LLC Purchases 36,852 Shares of Hasbro, Inc. $HAS

Key Points

• Smith Group Asset Management increased its Hasbro stake by 7.2% in the first quarter, purchasing 36,852 shares to hold 545,638 shares valued at approximately $51.1 million. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro reported quarterly earnings of $1.28 per share, exceeding estimates of $1.16, while revenue rose 16.2% year over year to $1.14 billion. The stock recently traded at $96.34, up 6.3%.
• Hasbro declared a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 payout and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $109.07.

Smith Group Asset Management LLC lifted its position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 545,638 shares of the company's stock after purchasing an additional 36,852 shares during the quarter. Hasbro accounts for 2.6% of Smith Group Asset Management LLC's investment portfolio, making the stock its 11th largest holding. Smith Group Asset Management LLC owned 0.39% of Hasbro worth $51,072,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HAS. Huntington National Bank grew its position in Hasbro by 10.2% in the 4th quarter. Huntington National Bank now owns 1,233 shares of the company's stock valued at $101,000 after purchasing an additional 114 shares during the period. Personal CFO Solutions LLC raised its holdings in Hasbro by 3.9% during the fourth quarter. Personal CFO Solutions LLC now owns 3,666 shares of the company's stock worth $301,000 after buying an additional 137 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Hasbro by 6.4% in the fourth quarter. Signaturefd LLC now owns 2,268 shares of the company's stock valued at $186,000 after buying an additional 137 shares in the last quarter. Severin Investments LLC lifted its stake in shares of Hasbro by 3.1% in the first quarter. Severin Investments LLC now owns 4,595 shares of the company's stock valued at $430,000 after buying an additional 137 shares in the last quarter. Finally, Root Financial Partners LLC grew its holdings in shares of Hasbro by 21.3% during the first quarter. Root Financial Partners LLC now owns 780 shares of the company's stock valued at $73,000 after buying an additional 137 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.

Hasbro Stock Up 6.3%

HAS opened at $96.34 on Wednesday. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46. The company's 50-day moving average is $84.14 and its 200 day moving average is $90.48. Hasbro, Inc. has a fifty-two week low of $69.50 and a fifty-two week high of $106.98. The firm has a market capitalization of $13.63 billion, a P/E ratio of 17.33, a PEG ratio of 1.66 and a beta of 0.49.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The firm's revenue for the quarter was up 16.2% compared to the same quarter last year. Research analysts expect that Hasbro, Inc. will post 6.13 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, August 19th. Hasbro's payout ratio is presently 50.36%.

Analysts Set New Price Targets

A number of research firms recently weighed in on HAS. Morgan Stanley upped their target price on shares of Hasbro from $122.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. Roth Capital reiterated a "buy" rating on shares of Hasbro in a research note on Wednesday, July 22nd. Wells Fargo & Company decreased their price objective on Hasbro from $92.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday, June 9th. Argus increased their price objective on Hasbro from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group dropped their target price on Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Hasbro has an average rating of "Moderate Buy" and a consensus price target of $109.07.

Hasbro 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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