Hasbro, Inc. $HAS Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC lessened its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 18.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 136,230 shares of the company’s stock after selling 31,056 shares during the period. Sound Income Strategies LLC owned approximately 0.10% of Hasbro worth $12,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HAS. Norges Bank acquired a new position in shares of Hasbro in the 4th quarter valued at about $147,748,000. Bank of America Corp DE increased its position in Hasbro by 128.7% during the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after purchasing an additional 1,677,962 shares in the last quarter. AQR Capital Management LLC increased its position in Hasbro by 47.3% during the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after purchasing an additional 1,399,499 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Hasbro by 454.3% in the first quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company’s stock valued at $68,085,000 after buying an additional 596,167 shares during the period. Finally, Amundi raised its holdings in Hasbro by 55.5% in the fourth quarter. Amundi now owns 1,403,288 shares of the company’s stock valued at $115,070,000 after buying an additional 501,117 shares during the period. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Hasbro Stock Performance

Hasbro stock opened at $80.15 on Friday. The firm has a market capitalization of $11.34 billion, a PE ratio of -48.28, a price-to-earnings-growth ratio of 1.99 and a beta of 0.49. Hasbro, Inc. has a one year low of $69.50 and a one year high of $106.98. The stock’s 50 day moving average price is $88.61 and its 200 day moving average price is $90.46. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.27. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. Hasbro’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. As a group, sell-side analysts expect that Hasbro, Inc. will post 6.01 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Monday, June 1st were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 1st. Hasbro’s dividend payout ratio (DPR) is presently -168.67%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HAS shares. Bank of America boosted their price objective on shares of Hasbro from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. DA Davidson reissued a “neutral” rating and issued a $100.00 target price on shares of Hasbro in a research note on Thursday, May 21st. Wall Street Zen downgraded shares of Hasbro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Argus set a $105.00 target price on shares of Hasbro in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Hasbro from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.14.

About Hasbro

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.