Edgestream Partners L.P. Decreases Holdings in Hasbro, Inc. $HAS

Edgestream Partners L.P. reduced its holdings in shares of Hasbro, Inc. (NASDAQ:HAS) by 68.6% in the 1st quarter, HoldingsChannel reports. The fund owned 19,002 shares of the company’s stock after selling 41,512 shares during the quarter. Edgestream Partners L.P.’s holdings in Hasbro were worth $1,779,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Huntington National Bank raised its position in shares of Hasbro by 10.2% during the 4th quarter. Huntington National Bank now owns 1,233 shares of the company’s stock worth $101,000 after acquiring an additional 114 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in Hasbro by 3.9% in the fourth quarter. Personal CFO Solutions LLC now owns 3,666 shares of the company’s stock valued at $301,000 after purchasing an additional 137 shares in the last quarter. Signaturefd LLC boosted its holdings in Hasbro by 6.4% in the fourth quarter. Signaturefd LLC now owns 2,268 shares of the company’s stock valued at $186,000 after purchasing an additional 137 shares in the last quarter. Severin Investments LLC increased its stake in Hasbro by 3.1% in the first quarter. Severin Investments LLC now owns 4,595 shares of the company’s stock valued at $430,000 after purchasing an additional 137 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in Hasbro by 21.3% in the first quarter. Root Financial Partners LLC now owns 780 shares of the company’s stock valued at $73,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Insider Activity at Hasbro

In other news, insider Timothy J. Kilpin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the transaction, the insider directly owned 54,229 shares of the company’s stock, valued at approximately $5,049,804.48. This represents a 26.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Hight sold 3,186 shares of the firm’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 sale, the insider directly owned 67,557 shares of the company’s stock, valued at $6,330,766.47. This represents a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,451 shares of company stock worth $3,987,379 in the last three months. Insiders own 0.71% of the company’s stock.

Hasbro Stock Performance

Shares of Hasbro stock opened at $91.47 on Tuesday. The firm’s fifty day simple moving average is $84.54 and its 200-day simple moving average is $90.67. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.72 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 quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $1.30 EPS. Hasbro’s quarterly revenue was up 16.2% compared to the same quarter last year. As a group, equities analysts forecast that Hasbro, Inc. will post 6.13 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.1%. Hasbro’s dividend payout ratio (DPR) is currently 50.36%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HAS shares. Jefferies Financial Group reduced their price objective on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. JPMorgan Chase & Co. dropped their target price on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Morgan Stanley increased their target price on shares of Hasbro from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Argus lifted their price target on shares of Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, DA Davidson reduced their price target on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Hasbro currently has a consensus rating of “Moderate Buy” and an average price target of $109.07.

Hasbro Company 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.