Gabelli Funds LLC Lowers Stock Position in Hasbro, Inc. $HAS

Gabelli Funds LLC cut its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 15.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,823 shares of the company’s stock after selling 5,519 shares during the period. Gabelli Funds LLC’s holdings in Hasbro were worth $2,885,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HAS. Dorato Capital Management purchased a new position in shares of Hasbro during the fourth quarter worth $1,804,000. Howard Capital Management Inc. acquired a new position in Hasbro during the 4th quarter worth about $964,000. Nomura Asset Management Co. Ltd. boosted its holdings in Hasbro by 734.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company’s stock valued at $2,770,000 after acquiring an additional 29,735 shares during the period. OFI Invest Asset Management acquired a new position in Hasbro in the 4th quarter valued at about $9,758,000. Finally, Oak Thistle LLC purchased a new stake in Hasbro during the fourth quarter worth about $1,140,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BNP Paribas Exane dropped their price objective on shares of Hasbro from $117.00 to $114.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Argus boosted their price target on shares of Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Bank of America cut their price objective on Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Zacks Research cut Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, June 1st. Twelve 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, Hasbro currently has a consensus rating of “Moderate Buy” and an average price target of $109.07.

Hasbro Stock Up 6.3%

Shares of Hasbro stock opened at $96.34 on Wednesday. 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, Inc. has a 52-week low of $69.50 and a 52-week high of $106.98. The company has a market capitalization of $13.63 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.66 and a beta of 0.49. The company has a 50 day moving average of $84.14 and a 200 day moving average of $90.48.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $1.30 EPS. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. As a group, research analysts forecast that Hasbro, Inc. will post 6.13 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 dividend on an annualized basis and a yield of 2.9%. Hasbro’s dividend payout ratio (DPR) is currently 50.36%.

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.