Ieq Capital LLC Makes New $11.37 Million Investment in Hasbro, Inc. $HAS

Ieq Capital LLC purchased a new stake in shares of Hasbro, Inc. (NASDAQ:HAS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 137,718 shares of the company’s stock, valued at approximately $11,374,000.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its position in shares of Hasbro by 734.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company’s stock valued at $2,770,000 after purchasing an additional 29,735 shares in the last quarter. Capital Research Global Investors raised its holdings in Hasbro by 5.3% in the fourth quarter. Capital Research Global Investors now owns 3,225,875 shares of the company’s stock worth $264,522,000 after purchasing an additional 162,354 shares in the last quarter. California State Teachers Retirement System lifted its position in Hasbro by 24.5% during the first quarter. California State Teachers Retirement System now owns 156,866 shares of the company’s stock valued at $14,683,000 after buying an additional 30,825 shares during the period. Brighton Jones LLC bought a new stake in shares of Hasbro during the 4th quarter valued at $317,000. Finally, Procyon Advisors LLC purchased a new stake in shares of Hasbro in the 1st quarter worth about $2,127,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group reiterated a “buy” rating and issued a $120.00 target price on shares of Hasbro in a research note on Monday, July 27th. DA Davidson decreased their price objective on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 22nd. Citigroup reaffirmed a “buy” rating on shares of Hasbro in a research report on Thursday, July 23rd. Morgan Stanley increased their target price on Hasbro from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, Argus lifted their target price on Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.43.

Insider Activity at Hasbro

In other news, CFO Gina M. Goetter sold 8,265 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $93.96, for a total transaction of $776,579.40. Following the transaction, the chief financial officer directly owned 79,839 shares of the company’s stock, valued at $7,501,672.44. This represents a 9.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Hight sold 3,186 shares of the firm’s stock in a transaction on 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 owned 67,557 shares in the company, valued at approximately $6,330,766.47. This trade represents a 4.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,415 shares of company stock valued at $4,260,164 in the last quarter. 0.71% of the stock is currently owned by corporate insiders.

Hasbro Stock Performance

Shares of HAS stock opened at $93.54 on Friday. The company has a 50 day moving average price of $87.12 and a 200-day moving average price of $91.24. Hasbro, Inc. has a 52 week low of $69.50 and a 52 week high of $106.98. The firm has a market capitalization of $13.19 billion, a PE ratio of 16.82, a P/E/G ratio of 1.71 and a beta of 0.47. 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 (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 firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 earnings per share. As a group, equities research analysts expect that Hasbro, Inc. will post 6.15 earnings per share for the current year.

Hasbro Dividend Announcement

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