Hasbro, Inc. $HAS Stock Holdings Lifted by Royal Bank of Canada

Royal Bank of Canada increased its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 50.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,365 shares of the company’s stock after acquiring an additional 134,600 shares during the quarter. Royal Bank of Canada owned 0.28% of Hasbro worth $37,663,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Empowered Funds LLC boosted its stake in Hasbro by 80.7% in the 1st quarter. Empowered Funds LLC now owns 31,625 shares of the company’s stock worth $2,960,000 after purchasing an additional 14,125 shares during the period. Lazard Asset Management LLC raised its stake in Hasbro by 10.0% during the 1st quarter. Lazard Asset Management LLC now owns 5,767 shares of the company’s stock valued at $540,000 after purchasing an additional 523 shares during the period. Castleark Management LLC raised its stake in Hasbro by 29.9% during the 1st quarter. Castleark Management LLC now owns 94,701 shares of the company’s stock valued at $8,864,000 after purchasing an additional 21,800 shares during the period. Owlhouse Capital LP lifted its holdings in shares of Hasbro by 40.5% in the first quarter. Owlhouse Capital LP now owns 34,856 shares of the company’s stock valued at $3,263,000 after purchasing an additional 10,056 shares in the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of Hasbro by 10.1% in the first quarter. Waverly Advisors LLC now owns 4,545 shares of the company’s stock valued at $425,000 after purchasing an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Insider Transactions at Hasbro

In other 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 transaction of $776,579.40. Following the completion of the sale, the chief financial officer directly owned 79,839 shares in the company, valued at $7,501,672.44. The trade was a 9.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy J. Kilpin sold 20,000 shares of the business’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 sale, the insider directly owned 54,229 shares of the company’s stock, valued at approximately $5,049,804.48. The trade was 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. Insiders sold 42,451 shares of company stock valued at $3,987,379 in the last three months. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Hasbro from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Wells Fargo & Company reduced their price objective on Hasbro from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 9th. DA Davidson decreased their price objective on Hasbro from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 22nd. Argus lifted their target price on Hasbro from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, BNP Paribas Exane dropped their target price on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.07.

Hasbro Trading Down 2.6%

Hasbro stock opened at $91.47 on Tuesday. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month 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. The stock has a market cap of $12.94 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.72 and a beta of 0.47. The company’s fifty day simple moving average is $84.54 and its 200-day simple moving average is $90.67.

Hasbro (NASDAQ:HAS) last announced 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. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. As a group, sell-side analysts forecast that Hasbro, Inc. will post 6.13 EPS for the current fiscal year.

Hasbro Dividend Announcement

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 paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.1%. Hasbro’s dividend payout ratio (DPR) is 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.