Valley Wealth Managers Inc. Makes New Investment in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Valley Wealth Managers Inc. has acquired 412,760 shares of Hasbro, Inc. valued at approximately $25.38 million, making it the seventh largest position in their portfolio at 1.9%.
• Hasbro recently reported earnings of $1.30 per share, exceeding analysts' expectations, along with quarterly revenue of $980.80 million, although experiencing a 1.5% year-over-year decline.
• The company announced a quarterly dividend of $0.70 per share, indicating an annual yield of 3.73%, with a payout ratio of -68.97%.

Valley Wealth Managers Inc. bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 412,760 shares of the company's stock, valued at approximately $25,381,000. Hasbro accounts for 1.9% of Valley Wealth Managers Inc.'s portfolio, making the stock its 7th largest position. Valley Wealth Managers Inc. owned about 0.30% of Hasbro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in Hasbro during the 4th quarter valued at about $317,000. Teacher Retirement System of Texas increased its stake in shares of Hasbro by 14.7% during the fourth quarter. Teacher Retirement System of Texas now owns 27,459 shares of the company's stock valued at $1,535,000 after purchasing an additional 3,510 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Hasbro by 2.3% during the fourth quarter. Sei Investments Co. now owns 76,641 shares of the company's stock valued at $4,285,000 after purchasing an additional 1,718 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Hasbro during the fourth quarter valued at approximately $1,504,000. Finally, LPL Financial LLC boosted its position in shares of Hasbro by 13.9% in the 4th quarter. LPL Financial LLC now owns 73,579 shares of the company's stock worth $4,114,000 after purchasing an additional 8,962 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

Hasbro Stock Performance

Shares of HAS stock opened at $74.98 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.66 and a debt-to-equity ratio of 12.31. The company has a 50 day moving average price of $71.42 and a 200-day moving average price of $63.69. Hasbro, Inc. has a 52 week low of $49.00 and a 52 week high of $78.83. The firm has a market capitalization of $10.51 billion, a PE ratio of -18.47, a P/E/G ratio of 1.06 and a beta of 0.59.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.52. The firm had revenue of $980.80 million for the quarter, compared to the consensus estimate of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%. The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. As a group, equities research 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 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 dividend yield of 3.73%. The ex-dividend date is Wednesday, August 20th. Hasbro's payout ratio is -68.97%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HAS shares. The Goldman Sachs Group raised Hasbro from a "neutral" rating to a "buy" rating and increased their target price for the stock from $66.00 to $85.00 in a research note on Monday, June 30th. Morgan Stanley upped their price target on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday. Wall Street Zen raised shares of Hasbro from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Bank of America lifted their target price on shares of Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Monness Crespi & Hardt upped their target price on shares of Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Hasbro has an average rating of "Moderate Buy" and a consensus target price of $86.27.

Hasbro 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.