Redwood Investment Management LLC Makes New $789,000 Investment in Hasbro, Inc. $HAS

Redwood Investment Management LLC purchased a new stake in Hasbro, Inc. (NASDAQ:HAS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,554 shares of the company’s stock, valued at approximately $789,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Parvin Asset Management LLC acquired a new position in shares of Hasbro during the second quarter worth about $101,000. Transamerica Financial Advisors LLC acquired a new stake in Hasbro in the second quarter valued at approximately $40,000. Corient Private Wealth LP purchased a new position in Hasbro in the second quarter worth approximately $2,013,000. Bank of America Corp DE purchased a new position in Hasbro in the second quarter worth approximately $289,258,000. Finally, Freestone Grove Partners LP acquired a new position in Hasbro during the 2nd quarter worth approximately $28,528,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Trading Down 2.2%

NASDAQ:HAS opened at $94.18 on Friday. The company has a market capitalization of $13.28 billion, a PE ratio of 16.94, a P/E/G ratio of 1.76 and a beta of 0.47. Hasbro, Inc. has a 52-week low of $69.50 and a 52-week high of $106.98. The stock’s 50 day moving average price is $88.01 and its 200 day moving average price is $91.24. 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 issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, research analysts anticipate that Hasbro, Inc. will post 6.15 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s payout ratio is presently 50.36%.

Insider Buying and Selling at Hasbro

In other Hasbro news, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction 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 transaction, the insider directly owned 54,229 shares in the company, valued at approximately $5,049,804.48. The trade was a 26.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Hight sold 3,186 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the completion of the sale, the insider directly owned 67,557 shares of the company’s stock, valued at $6,330,766.47. The trade was 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 45,415 shares of company stock worth $4,260,164 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HAS shares. Wall Street Zen downgraded shares of Hasbro from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of Hasbro from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Jefferies Financial Group lowered their target price on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. BNP Paribas Exane cut their price target on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Finally, Morgan Stanley raised their price target on Hasbro from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.43.

Hasbro Company 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.