Gabelli Funds LLC Reduces Stock Holdings in Hasbro, Inc. $HAS

Gabelli Funds LLC lowered its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 15.2% during the first quarter, Holdings Channel reports. The firm owned 30,823 shares of the company’s stock after selling 5,519 shares during the period. Gabelli Funds LLC’s holdings in Hasbro were worth $2,885,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio grew its position in shares of Hasbro by 2.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 40,580 shares of the company’s stock valued at $3,798,000 after buying an additional 796 shares during the last quarter. Inceptionr LLC lifted its position in Hasbro by 5.1% in the first quarter. Inceptionr LLC now owns 10,379 shares of the company’s stock valued at $971,000 after acquiring an additional 504 shares during the last quarter. Sellaronda Global Management LP boosted its stake in Hasbro by 8.6% in the first quarter. Sellaronda Global Management LP now owns 190,000 shares of the company’s stock valued at $17,784,000 after acquiring an additional 15,000 shares in the last quarter. Bank of Nova Scotia boosted its stake in Hasbro by 39.1% in the first quarter. Bank of Nova Scotia now owns 98,897 shares of the company’s stock valued at $9,257,000 after acquiring an additional 27,777 shares in the last quarter. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in Hasbro in the first quarter valued at $490,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Stock Performance

NASDAQ HAS opened at $96.34 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 4.16. Hasbro, Inc. has a 52-week low of $69.50 and a 52-week high of $106.98. The business’s 50-day moving average price is $84.14 and its 200 day moving average price is $90.48. The firm has a market cap of $13.63 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.66 and a beta of 0.49.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $1.30 EPS. The firm’s revenue was up 16.2% compared to the same quarter last year. On average, equities research analysts expect 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 2.9%. Hasbro’s dividend payout ratio (DPR) is currently 50.36%.

Analysts Set New Price Targets

A number of analysts have recently commented on HAS shares. JPMorgan Chase & Co. cut their target price on Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group decreased their target price on Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. DA Davidson dropped their price target on Hasbro from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 22nd. BNP Paribas Exane cut their price target on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Twelve research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.07.

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.