Hasbro, Inc. (HAS) Stake Lifted by HGK Asset Management Inc.
HGK Asset Management Inc. raised its position in Hasbro, Inc. (NASDAQ:HAS) by 2.2% during the first quarter, HoldingsChannel.com reports. The firm owned 71,034 shares of the company’s stock after purchasing an additional 1,538 shares during the period. Hasbro comprises 1.8% of HGK Asset Management Inc.’s portfolio, making the stock its 28th largest holding. HGK Asset Management Inc.’s holdings in Hasbro were worth $6,039,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. increased its stake in shares of Hasbro by 77.0% in the 4th quarter. CSat Investment Advisory L.P. now owns 308 shares of the company’s stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Hasbro by 7,213.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,145,000 shares of the company’s stock valued at $26,000 after acquiring an additional 2,115,671 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Hasbro in the 1st quarter valued at $29,000. Bessemer Group Inc. increased its stake in shares of Hasbro by 46.3% in the 4th quarter. Bessemer Group Inc. now owns 398 shares of the company’s stock valued at $33,000 after acquiring an additional 126 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Hasbro by 41.4% in the 4th quarter. Proficio Capital Partners LLC now owns 420 shares of the company’s stock valued at $34,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 90.27% of the company’s stock.
In other news, EVP Thomas J. Jr. Courtney sold 3,687 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $105.00, for a total value of $387,135.00. Following the completion of the sale, the executive vice president now owns 20,795 shares in the company, valued at approximately $2,183,475. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Goldner sold 317,306 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $102.55, for a total transaction of $32,539,730.30. Following the completion of the sale, the chief executive officer now owns 375,111 shares of the company’s stock, valued at approximately $38,467,633.05. The disclosure for this sale can be found here. Insiders have sold a total of 346,056 shares of company stock valued at $35,488,019 in the last 90 days. 9.30% of the stock is currently owned by company insiders.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.29. The business had revenue of $732.51 million during the quarter, compared to analyst estimates of $665.96 million. Hasbro had a net margin of 7.83% and a return on equity of 28.50%. Hasbro’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Analysts forecast that Hasbro, Inc. will post 4.52 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.68 per share. The ex-dividend date is Wednesday, July 31st. This represents a $2.72 dividend on an annualized basis and a yield of 2.80%. Hasbro’s dividend payout ratio (DPR) is presently 70.65%.
Several analysts have recently weighed in on the stock. Argus lowered shares of Hasbro from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. BMO Capital Markets lifted their price objective on shares of Hasbro from $88.00 to $93.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Stifel Nicolaus lifted their price objective on shares of Hasbro from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. MKM Partners lifted their price objective on shares of Hasbro from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Barclays lifted their price objective on shares of Hasbro from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Hasbro currently has an average rating of “Buy” and a consensus price target of $106.07.
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Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.
Further Reading: Dollar Cost Averaging
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