Sound Income Strategies LLC Buys 9,229 Shares of Hasbro, Inc. $HAS

Key Points

• Sound Income Strategies LLC increased its stake in Hasbro, Inc. by 5.4%, owning 179,257 shares worth approximately $13.2 million after acquiring an additional 9,229 shares in the second quarter.
• Analyst ratings for Hasbro show a consensus of 11 buy ratings and one hold rating, with an average price target of $86.42, reflecting positive sentiment towards the stock.
• Hasbro's recent quarterly earnings exceeded estimates, reporting $1.30 EPS against a consensus of $0.78, along with revenues of $980.8 million, despite a year-over-year revenue decline of 1.5%.

Sound Income Strategies LLC boosted its stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,257 shares of the company's stock after acquiring an additional 9,229 shares during the quarter. Sound Income Strategies LLC owned about 0.13% of Hasbro worth $13,233,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its stake in Hasbro by 4,704.1% during the second quarter. Avior Wealth Management LLC now owns 9,272 shares of the company's stock worth $684,000 after acquiring an additional 9,079 shares during the last quarter. Michels Family Financial LLC bought a new stake in Hasbro during the second quarter worth approximately $208,000. Brown Lisle Cummings Inc. increased its stake in Hasbro by 13.2% during the second quarter. Brown Lisle Cummings Inc. now owns 4,968 shares of the company's stock worth $367,000 after acquiring an additional 580 shares during the last quarter. Patton Fund Management Inc. bought a new stake in Hasbro during the second quarter worth approximately $267,000. Finally, ST Germain D J Co. Inc. bought a new stake in Hasbro during the second quarter worth approximately $82,000. 91.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HAS. UBS Group boosted their price objective on Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Morgan Stanley boosted their target price on Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Bank of America boosted their target price on Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Roth Capital boosted their target price on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, DA Davidson boosted their target price on Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Hasbro has an average rating of "Moderate Buy" and an average price target of $86.42.

Insider Buying and Selling

In related news, CEO Christian P. Cocks sold 27,800 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were 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 of the company's stock, valued at $19,719,030.12. The trade was a 10.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy J. Kilpin sold 8,557 shares of the business'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 transaction of $696,882.08. Following the completion of the transaction, the insider directly owned 44,301 shares of the company's stock, valued at $3,607,873.44. This trade represents a 16.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,359 shares of company stock valued at $2,970,828 over the last 90 days. Corporate insiders own 0.85% of the company's stock.

Hasbro Stock Up 1.4%

Shares of NASDAQ HAS opened at $75.59 on Monday. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of -18.62, a PEG ratio of 0.98 and a beta of 0.59. The stock has a 50 day moving average price of $77.92 and a 200 day moving average price of $69.24. Hasbro, Inc. has a 52-week low of $49.00 and a 52-week high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.52. The firm had revenue of $980.80 million during 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 business earned $1.22 earnings per share. Sell-side analysts expect that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. Hasbro's payout ratio is -68.97%.

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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