528,051 Shares in Hasbro, Inc. $HAS Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new position in Hasbro, Inc. (NASDAQ:HAS) in the second quarter, HoldingsChannel reports. The fund bought 528,051 shares of the company’s stock, valued at approximately $43,612,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Hasbro during the fourth quarter valued at approximately $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 worth $1,018,000 after purchasing an additional 1,753 shares during the period. Empowered Funds LLC raised its stake in Hasbro by 95.8% during the 1st quarter. Empowered Funds LLC now owns 13,187 shares of the company’s stock valued at $811,000 after buying an additional 6,451 shares during the last quarter. Woodline Partners LP raised its stake in Hasbro by 40.7% during the 1st quarter. Woodline Partners LP now owns 11,078 shares of the company’s stock valued at $681,000 after buying an additional 3,203 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Hasbro during the 1st quarter valued at $292,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Trading Down 0.7%

Shares of Hasbro stock opened at $93.33 on Thursday. Hasbro, Inc. has a 1-year low of $69.50 and a 1-year high of $106.98. The company’s fifty day simple moving average is $86.74 and its 200-day simple moving average is $91.20. 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 stock has a market capitalization of $13.16 billion, a PE ratio of 16.79, a P/E/G ratio of 1.72 and a beta of 0.47.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 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 during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $1.30 EPS. Hasbro’s revenue was up 16.2% on a year-over-year basis. As a group, equities analysts anticipate that Hasbro, Inc. will post 6.15 earnings per share for the current year.

Hasbro Announces Dividend

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

Insider Buying and Selling

In other news, CFO Gina M. Goetter sold 8,265 shares of the firm’s 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 of the company’s stock, valued at $7,501,672.44. This trade represents a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hight sold 3,186 shares of the firm’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 completion of the transaction, the insider directly owned 67,557 shares in the company, valued at $6,330,766.47. This trade represents a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 45,415 shares of company stock worth $4,260,164. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HAS shares. Wall Street Zen downgraded Hasbro from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Jefferies Financial Group reduced their price objective on Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Morgan Stanley raised their target price on Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Roth Capital restated a “buy” rating on shares of Hasbro in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their price target on shares of Hasbro from $92.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.07.

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.