Merit Financial Group LLC Boosts Holdings in Hasbro, Inc. $HAS

Merit Financial Group LLC increased its holdings in Hasbro, Inc. (NASDAQ:HAS) by 48.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,392 shares of the company’s stock after purchasing an additional 7,008 shares during the period. Merit Financial Group LLC’s holdings in Hasbro were worth $1,754,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in Hasbro in the 2nd quarter worth approximately $25,000. MUFG Securities EMEA plc purchased a new position in Hasbro in the 2nd quarter worth approximately $28,000. First Horizon Corp purchased a new position in Hasbro in the 3rd quarter worth approximately $29,000. Foster Dykema Cabot & Partners LLC purchased a new position in Hasbro in the 3rd quarter worth approximately $34,000. Finally, Wexford Capital LP purchased a new position in Hasbro in the 3rd quarter worth approximately $37,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HAS shares. BNP Paribas Exane lowered their price target on Hasbro from $118.00 to $115.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Argus set a $105.00 price target on Hasbro in a report on Friday, March 13th. Morgan Stanley upped their price objective on Hasbro from $103.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. upped their price objective on Hasbro from $94.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Finally, Citigroup upped their price objective on Hasbro from $97.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.86.

Hasbro Stock Down 0.5%

Shares of HAS opened at $90.61 on Thursday. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of -38.56 and a beta of 0.55. Hasbro, Inc. has a 1 year low of $52.31 and a 1 year high of $106.98. The business’s 50 day simple moving average is $94.86 and its 200-day simple moving average is $86.70. The company has a debt-to-equity ratio of 4.89, a current ratio of 1.38 and a quick ratio of 1.24.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.52. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Hasbro had a positive return on equity of 127.21% and a negative net margin of 6.86%.The company’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. As a group, equities analysts expect that Hasbro, Inc. will post 5.66 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $2.80 annualized dividend and a dividend yield of 3.1%. Hasbro’s payout ratio is currently -119.15%.

Insider Buying and Selling

In other news, EVP Tarrant L. Sibley sold 15,148 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $104.98, for a total transaction of $1,590,237.04. Following the transaction, the executive vice president owned 50,174 shares of the company’s stock, valued at approximately $5,267,266.52. The trade was a 23.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gina M. Goetter sold 12,429 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $103.46, for a total value of $1,285,904.34. Following the transaction, the chief financial officer directly owned 68,221 shares in the company, valued at approximately $7,058,144.66. This represents a 15.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 413,342 shares of company stock worth $42,241,679. 0.85% of the stock is owned by company insiders.

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.