Commerce Bank Acquires New Stake in Hasbro, Inc. $HAS

Commerce Bank acquired a new stake in Hasbro, Inc. (NASDAQ:HAS) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 32,323 shares of the company’s stock, valued at approximately $2,670,000.

Several other hedge funds also recently bought and sold shares of HAS. Huntington National Bank lifted its position in shares of Hasbro by 10.2% during the fourth quarter. Huntington National Bank now owns 1,233 shares of the company’s stock worth $101,000 after purchasing an additional 114 shares during the last quarter. Marathon Mission Inc. grew its holdings in shares of Hasbro by 1.4% in the second quarter. Marathon Mission Inc. now owns 9,152 shares of the company’s stock worth $756,000 after purchasing an additional 128 shares during the last quarter. Severin Investments LLC grew its holdings in shares of Hasbro by 3.1% in the first quarter. Severin Investments LLC now owns 4,595 shares of the company’s stock worth $430,000 after purchasing an additional 137 shares during the last quarter. Root Financial Partners LLC increased its stake in Hasbro by 21.3% in the 1st quarter. Root Financial Partners LLC now owns 780 shares of the company’s stock worth $73,000 after buying an additional 137 shares during the period. Finally, United Capital Financial Advisors LLC lifted its holdings in Hasbro by 2.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 6,500 shares of the company’s stock valued at $493,000 after buying an additional 139 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. DA Davidson reduced their target price on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 22nd. Argus lifted their price target on shares of Hasbro from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Citigroup reiterated a “buy” rating on shares of Hasbro in a report on Thursday, July 23rd. Finally, BNP Paribas Exane dropped their price objective on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.43.

Hasbro Stock Up 2.0%

NASDAQ:HAS opened at $95.41 on Tuesday. Hasbro, Inc. has a 1-year low of $69.50 and a 1-year high of $106.98. The company has a 50-day moving average of $87.33 and a 200 day moving average of $91.23. The firm has a market cap of $13.46 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.71 and a beta of 0.47. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46.

Hasbro (NASDAQ:HAS) last issued its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. The company had revenue of $1.14 billion for 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 prior year, the business earned $1.30 EPS. As a group, research analysts anticipate that Hasbro, Inc. will post 6.15 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. Stockholders of record on Wednesday, August 19th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s dividend payout ratio is presently 50.36%.

Insider Buying and Selling at Hasbro

In related news, insider John Hight sold 3,186 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were 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 of the company’s stock, valued at $6,330,766.47. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Gina M. Goetter sold 11,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $95.44, for a total value of $1,049,840.00. Following the sale, the chief financial officer owned 88,104 shares of the company’s stock, valued at approximately $8,408,645.76. This represents a 11.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,415 shares of company stock valued at $4,260,164 in the last ninety days. Company insiders own 0.71% of the company’s stock.

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.