MainStreet Investment Advisors LLC lifted its position in Hasbro, Inc. (NASDAQ:HAS) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,974 shares of the company’s stock after purchasing an additional 2,546 shares during the quarter. Hasbro accounts for about 1.1% of MainStreet Investment Advisors LLC’s holdings, making the stock its 25th largest holding. MainStreet Investment Advisors LLC owned approximately 0.07% of Hasbro worth $7,567,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Suntrust Banks Inc. boosted its holdings in Hasbro by 8.4% during the 1st quarter. Suntrust Banks Inc. now owns 7,650 shares of the company’s stock valued at $644,000 after acquiring an additional 596 shares during the period. Advisor Partners LLC lifted its holdings in Hasbro by 23.8% in the 2nd quarter. Advisor Partners LLC now owns 3,363 shares of the company’s stock worth $310,000 after buying an additional 647 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Hasbro by 12.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 5,916 shares of the company’s stock worth $499,000 after buying an additional 659 shares during the period. BLB&B Advisors LLC lifted its holdings in Hasbro by 25.7% in the 2nd quarter. BLB&B Advisors LLC now owns 3,299 shares of the company’s stock worth $305,000 after buying an additional 675 shares during the period. Finally, Eqis Capital Management Inc. lifted its holdings in Hasbro by 10.4% in the 2nd quarter. Eqis Capital Management Inc. now owns 7,209 shares of the company’s stock worth $665,000 after buying an additional 680 shares during the period. Institutional investors own 79.43% of the company’s stock.
HAS has been the subject of several research analyst reports. SunTrust Banks increased their price objective on Hasbro to $108.00 and gave the stock a “hold” rating in a report on Tuesday, July 24th. Stifel Nicolaus increased their price objective on Hasbro from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Tuesday, July 10th. BidaskClub upgraded Hasbro from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 4th. Zacks Investment Research cut Hasbro from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 24th. Finally, B. Riley increased their price objective on Hasbro from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $107.67.
Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Monday, July 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.19. The firm had revenue of $904.50 million for the quarter, compared to the consensus estimate of $839.29 million. Hasbro had a return on equity of 35.34% and a net margin of 4.15%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. analysts expect that Hasbro, Inc. will post 4.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Wednesday, August 1st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, July 31st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.54%. Hasbro’s dividend payout ratio (DPR) is currently 46.15%.
Hasbro declared that its board has authorized a stock buyback plan on Thursday, May 17th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In related news, EVP Wiebe Tinga sold 20,674 shares of Hasbro stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $101.24, for a total transaction of $2,093,035.76. Following the transaction, the executive vice president now directly owns 67,943 shares in the company, valued at $6,878,549.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Deborah Thomas sold 10,000 shares of Hasbro stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $100.63, for a total value of $1,006,300.00. Following the transaction, the chief financial officer now owns 84,568 shares in the company, valued at $8,510,077.84. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.
Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.
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