Vise Technologies Inc. Buys Shares of 52,059 Hasbro, Inc. $HAS

Key Points

• Vise Technologies initiated a Hasbro position by purchasing 52,059 shares valued at approximately $4.3 million. Institutional investors now own 91.83% of Hasbro’s outstanding stock.
• Hasbro’s latest quarterly results exceeded expectations, with EPS of $1.28 versus the $1.16 consensus and revenue of $1.14 billion, up 16.2% year over year. Growth in Magic: The Gathering, including Marvel-related products, is supporting investor optimism.
• Hasbro declared a quarterly dividend of $0.70 per share, representing an annualized payout of $2.80 and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $109.43.

Vise Technologies Inc. purchased a new position in Hasbro, Inc. (NASDAQ:HAS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 52,059 shares of the company's stock, valued at approximately $4,300,000.

Several other hedge funds also recently modified their holdings of HAS. Brighton Jones LLC bought a new position in Hasbro during the fourth quarter worth $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Hasbro by 11.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company's stock valued at $1,018,000 after purchasing an additional 1,753 shares during the period. Empowered Funds LLC boosted its holdings in Hasbro by 95.8% in the 1st quarter. Empowered Funds LLC now owns 13,187 shares of the company's stock valued at $811,000 after purchasing an additional 6,451 shares during the period. Woodline Partners LP grew its position in Hasbro by 40.7% in the 1st quarter. Woodline Partners LP now owns 11,078 shares of the company's stock worth $681,000 after purchasing an additional 3,203 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Hasbro in the 1st quarter worth $292,000. 91.83% of the stock is owned by institutional investors.

Hasbro News Roundup

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro’s Magic: The Gathering business is showing strong momentum, with Marvel-related releases supporting record growth. The upcoming Hobbit-themed products could provide another catalyst for Wizards of the Coast and help extend growth. Hasbro Magic Business Is Booming: Can Marvel and Hobbit Extend Growth?
• Positive Sentiment: Analysts remain broadly optimistic about Hasbro’s growth prospects, and the company’s shares have outpaced the broader market this year. This supports the favorable investor sentiment surrounding the stock. Hasbro Stock: Analyst Estimates & Ratings
• Positive Sentiment: Hasbro’s latest results exceeded expectations, with quarterly earnings and revenue beating consensus estimates and revenue increasing 16.2% year over year. The earnings beat remains a key reason the stock has increased since the report. Why Is Hasbro Up Since Last Earnings Report?
• Positive Sentiment: Hasbro is expanding its X-Men ’97 Marvel Legends collection with a new Beast figure. The release adds support to Hasbro’s licensed-product pipeline, though its direct financial impact is likely limited. Beast Joins Hasbro’s X-Men ’97 Marvel Legends Series Collection

Hasbro Stock Up 0.2%

NASDAQ HAS opened at $93.56 on Friday. Hasbro, Inc. has a 1-year low of $69.50 and a 1-year high of $106.98. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 1.71 and a beta of 0.47. The stock's 50 day moving average is $86.93 and its two-hundred day moving average is $91.23. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro's quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. Equities analysts forecast that Hasbro, Inc. will post 6.15 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. Hasbro's dividend payout ratio is presently 50.36%.

Insider Activity

In other Hasbro news, insider Timothy J. Kilpin sold 20,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the sale, the insider directly owned 54,229 shares of the company's stock, valued at approximately $5,049,804.48. This represents a 26.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gina M. Goetter sold 8,265 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $93.96, for a total transaction of $776,579.40. Following the sale, the chief financial officer directly owned 79,839 shares of the company's stock, valued at approximately $7,501,672.44. The trade was a 9.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 45,415 shares of company stock worth $4,260,164. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HAS shares. Zacks Research lowered shares of Hasbro from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Wells Fargo & Company lifted their target price on Hasbro from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Thursday. Citigroup restated a "buy" rating on shares of Hasbro in a research note on Thursday, July 23rd. Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a report on Wednesday, July 22nd. Finally, Bank of America reduced their price objective on Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $109.43.

Hasbro Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source