Procyon Advisors LLC Makes New Investment in Hasbro, Inc. $HAS

Procyon Advisors LLC acquired a new position in shares of Hasbro, Inc. (NASDAQ:HAS) in the 1st quarter, Holdings Channel reports. The fund acquired 22,727 shares of the company’s stock, valued at approximately $2,127,000.

Several other large investors have also modified their holdings of HAS. Brighton Jones LLC acquired a new stake in Hasbro during the 4th quarter worth $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Hasbro by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company’s stock valued at $1,018,000 after acquiring an additional 1,753 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Hasbro by 95.8% during the first quarter. Empowered Funds LLC now owns 13,187 shares of the company’s stock worth $811,000 after purchasing an additional 6,451 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Hasbro by 40.7% during the first quarter. Woodline Partners LP now owns 11,078 shares of the company’s stock worth $681,000 after purchasing an additional 3,203 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Hasbro in the 1st quarter valued at about $292,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Hasbro Stock Up 0.7%

HAS opened at $79.53 on Tuesday. The business has a 50 day moving average price of $86.29 and a two-hundred day moving average price of $90.30. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 4.59. The company has a market cap of $11.25 billion, a PE ratio of -47.91, a P/E/G ratio of 1.92 and a beta of 0.49. Hasbro, Inc. has a 52 week low of $69.50 and a 52 week high of $106.98.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.27. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $969.20 million. During the same period last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that Hasbro, Inc. will post 6.03 EPS for the current year.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Monday, June 1st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, June 1st. Hasbro’s dividend payout ratio is -168.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HAS shares. Zacks Research upgraded Hasbro from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 27th. UBS Group reiterated a “buy” rating and issued a $110.00 price objective on shares of Hasbro in a research note on Thursday, June 18th. Citigroup decreased their price objective on Hasbro from $114.00 to $101.00 and set a “buy” rating for the company in a report on Friday. DA Davidson restated a “neutral” rating and set a $100.00 target price on shares of Hasbro in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Hasbro from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Two 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 given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.21.

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.