Freestone Grove Partners LP Takes $28.53 Million Position in Hasbro, Inc. $HAS

Freestone Grove Partners LP acquired a new position in Hasbro, Inc. (NASDAQ:HAS) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 345,421 shares of the company’s stock, valued at approximately $28,528,000.

Other large investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new stake in shares of Hasbro in the 2nd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Hasbro in the fourth quarter worth approximately $27,000. MUFG Securities EMEA plc bought a new position in Hasbro during the 2nd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Hasbro by 1,190.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 357 shares during the period. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of Hasbro in the 1st quarter worth $37,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Insider Activity

In other Hasbro news, insider John Hight sold 3,186 shares of Hasbro stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the transaction, the insider directly owned 67,557 shares in the company, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth Hamren sold 1,975 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $92.84, for a total transaction of $183,359.00. Following the sale, the director directly owned 9,896 shares in the company, valued at approximately $918,744.64. This trade represents a 16.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,415 shares of company stock worth $4,260,164 over the last three months. 0.71% of the stock is owned by insiders.

Hasbro Trading Down 2.2%

NASDAQ:HAS opened at $94.18 on Friday. The stock has a fifty day simple moving average of $88.01 and a 200 day simple moving average of $91.24. The firm has a market capitalization of $13.28 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 1.76 and a beta of 0.47. Hasbro, Inc. has a 1-year low of $69.50 and a 1-year high of $106.98. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Sell-side analysts forecast that Hasbro, Inc. will post 6.15 earnings per share for the current year.

Hasbro Announces Dividend

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

Wall Street Analyst Weigh In

HAS has been the topic of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and set a $120.00 target price on shares of Hasbro in a report on Monday, July 27th. BNP Paribas Exane reduced their price objective on shares of Hasbro from $117.00 to $114.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Wells Fargo & Company boosted their target price on shares of Hasbro from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, August 20th. Roth Capital reissued a “buy” rating on shares of Hasbro in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group reduced their target price on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $109.43.

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.