NewEdge Advisors LLC Purchases 425,562 Shares of Hasbro, Inc. $HAS

NewEdge Advisors LLC boosted its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 621.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 494,060 shares of the company’s stock after buying an additional 425,562 shares during the period. NewEdge Advisors LLC’s holdings in Hasbro were worth $40,804,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HAS. Brighton Jones LLC acquired a new stake in shares of Hasbro during the 4th quarter worth approximately $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hasbro by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company’s stock worth $1,018,000 after purchasing an additional 1,753 shares during the last quarter. Empowered Funds LLC lifted its stake in Hasbro by 95.8% during the first quarter. Empowered Funds LLC now owns 13,187 shares of the company’s stock worth $811,000 after purchasing an additional 6,451 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Hasbro by 40.7% in the 1st quarter. Woodline Partners LP now owns 11,078 shares of the company’s stock valued at $681,000 after purchasing an additional 3,203 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Hasbro in the 1st quarter valued at $292,000. 91.83% of the stock is owned by institutional investors.

Hasbro Stock Down 1.5%

Shares of HAS opened at $88.97 on Thursday. Hasbro, Inc. has a 52 week low of $69.50 and a 52 week high of $106.98. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 1.55 and a beta of 0.47. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. The stock has a fifty day moving average of $89.58 and a 200-day moving average of $90.64.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. As a group, sell-side analysts anticipate that Hasbro, Inc. will post 6.16 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 19th. Hasbro’s dividend payout ratio (DPR) is presently 50.36%.

Insider Activity

In other news, insider John Hight sold 3,186 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $93.71, for a total transaction of $298,560.06. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Timothy Kilpin sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total value of $1,862,400.00. Following the completion of the transaction, the insider directly owned 54,229 shares of the company’s stock, valued at $5,049,804.48. This represents a 26.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 50,472 shares of company stock valued at $4,736,533. 0.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BNP Paribas Exane lowered their price target on Hasbro from $117.00 to $114.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. JPMorgan Chase & Co. reduced their price objective on Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Citigroup reissued a “buy” rating on shares of Hasbro in a research note on Thursday, July 23rd. Wall Street Zen cut shares of Hasbro from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Argus increased their target price on shares of Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.