Sei Investments Co. Acquires 16,649 Shares of Hasbro, Inc. $HAS

Sei Investments Co. raised its holdings in shares of Hasbro, Inc. (NASDAQ:HAS) by 14.9% in the 1st quarter, HoldingsChannel reports. The firm owned 128,551 shares of the company’s stock after buying an additional 16,649 shares during the period. Sei Investments Co.’s holdings in Hasbro were worth $12,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Hasbro in the fourth quarter valued at about $147,748,000. Bank of America Corp DE boosted its holdings in shares of Hasbro by 128.7% during the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after buying an additional 1,677,962 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Hasbro by 47.3% during the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after buying an additional 1,399,499 shares during the period. Assenagon Asset Management S.A. grew its stake in Hasbro by 454.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company’s stock valued at $68,085,000 after buying an additional 596,167 shares during the last quarter. Finally, NewEdge Wealth LLC acquired a new position in Hasbro in the 1st quarter valued at about $47,671,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating, with an average price target of $109.07 versus recent trading levels. Twelve analysts rate Hasbro a Buy, compared with three Holds and one Sell. Hasbro receives Moderate Buy consensus
• Positive Sentiment: Wizards of the Coast unveiled new Dungeons & Dragons initiatives, including a World of Warcraft crossover launching in November, along with planned Dark Sun and Star Wars experiences. The announcements could strengthen Hasbro’s licensing, gaming and fan-engagement opportunities. Dungeons and Dragons announcements
• Positive Sentiment: Hasbro prevailed in a long-running copyright dispute involving Peppa Pig and Vietnam’s Wolfoo, protecting an important intellectual-property asset and potentially limiting unauthorized competition. Peppa Pig copyright case
• Positive Sentiment: New Transformers: Age of the Primes action figures provide additional product support for one of Hasbro’s major brands. Transformers action figures
• Neutral Sentiment: Hasbro declared a quarterly dividend of $0.70, or $2.80 annually, representing an approximately 3% yield. The dividend is payable September 2 to shareholders of record August 19.
• Negative Sentiment: Insider selling may weigh on sentiment: CFO Gina Goetter sold 11,000 shares for about $1.05 million, while John Hight sold 3,186 shares for roughly $299,000. Timothy J. Kilpin also sold 20,000 shares, although that transaction was reported as being to cover tax withholding on vested equity awards. Hasbro insider sales

Wall Street Analyst Weigh In

Several brokerages have issued reports on HAS. Argus raised their price objective on shares of Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of Hasbro in a research report on Thursday, July 23rd. BNP Paribas Exane lowered their target price on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. UBS Group reissued a “buy” rating and set a $120.00 price target on shares of Hasbro in a report on Monday. Finally, Morgan Stanley boosted their price target on Hasbro from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Twelve equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.07.

Insider Buying and Selling

In other Hasbro news, CFO Gina M. Goetter sold 8,265 shares of Hasbro stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $93.96, for a total value of $776,579.40. Following the transaction, the chief financial officer owned 79,839 shares in the company, valued at $7,501,672.44. The trade was a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $298,560.06. Following the transaction, the insider directly owned 67,557 shares of the company’s stock, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,451 shares of company stock worth $3,987,379 in the last ninety days. 0.71% of the stock is owned by insiders.

Hasbro Stock Performance

Shares of NASDAQ:HAS opened at $93.94 on Friday. Hasbro, Inc. has a 1 year low of $69.50 and a 1 year high of $106.98. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 1.74 and a beta of 0.49. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46. The company’s 50 day simple moving average is $84.47 and its 200 day simple moving average is $90.61.

Hasbro (NASDAQ:HAS) last released its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.12. The firm 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%.The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 earnings per share. As a group, research analysts predict that Hasbro, Inc. will post 6.13 EPS for the current fiscal year.

Hasbro Dividend Announcement

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

About Hasbro

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.