NewEdge Wealth LLC Acquires New Stake in Hasbro, Inc. $HAS

NewEdge Wealth LLC bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS) in the 1st quarter, HoldingsChannel.com reports. The firm bought 509,307 shares of the company’s stock, valued at approximately $47,671,000.

A number of other institutional investors have also added to or reduced their stakes in HAS. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Hasbro in the 4th quarter valued at about $27,000. CYBER HORNET ETFs LLC purchased a new position in shares of Hasbro during the second quarter worth about $25,000. MUFG Securities EMEA plc purchased a new position in shares of Hasbro during the second quarter worth about $28,000. Cedar Mountain Advisors LLC bought a new position in shares of Hasbro in the first quarter worth approximately $37,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Hasbro in the first quarter worth approximately $39,000. 91.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. DA Davidson cut their price target on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group reissued a “buy” rating and issued a $110.00 price target on shares of Hasbro in a report on Thursday, June 18th. Wells Fargo & Company lowered their price objective on shares of Hasbro from $92.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 9th. Finally, Weiss Ratings cut shares of Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.36.

Key Stories Impacting Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro reported Q2 earnings and revenue that beat Wall Street estimates, with sales up 16% year over year and management raising its full-year outlook for revenue, profit, margins, and EBITDA. Reuters article
• Positive Sentiment: Wizards of the Coast and digital gaming were the main growth drivers, with record Magic: The Gathering demand helping offset softer areas and signaling that Hasbro’s higher-margin franchise strategy is working. WSJ article
• Positive Sentiment: Several analysts reiterated bullish ratings after the quarter, and the company also announced a quarterly dividend, which can support investor confidence. TipRanks article
• Neutral Sentiment: Hasbro unveiled official Legend of Zelda toy figures tied to the franchise’s 40th anniversary, which adds a positive brand and licensing angle but is not yet a confirmed earnings driver. IGN article
• Negative Sentiment: Offsetting the upbeat earnings story, Hasbro disclosed a $56 million write-down tied to cancelling several video game projects, highlighting execution risk in its gaming pipeline. GameSpot article

Hasbro Price Performance

Shares of Hasbro stock opened at $89.04 on Thursday. The firm has a market capitalization of $12.60 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.19 and a beta of 0.49. The company has a current ratio of 1.66, a quick ratio of 1.49 and a debt-to-equity ratio of 4.16. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The business’s 50-day moving average price is $84.51 and its 200-day moving average price is $90.34.

Hasbro (NASDAQ:HAS) last released its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $1.30 EPS. Sell-side analysts forecast that Hasbro, Inc. will post 6.04 EPS for the current fiscal year.

Hasbro Announces Dividend

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 dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.1%. Hasbro’s dividend payout ratio (DPR) is -168.67%.

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.