Hasbro, Inc. (NASDAQ:HAS) Shares Sold by Janney Montgomery Scott LLC

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Janney Montgomery Scott LLC lowered its holdings in shares of Hasbro, Inc. (NASDAQ:HAS) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,586 shares of the company’s stock after selling 4,410 shares during the period. Janney Montgomery Scott LLC’s holdings in Hasbro were worth $5,663,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HAS. Iberiabank Corp purchased a new position in shares of Hasbro in the 2nd quarter valued at about $232,000. BP PLC purchased a new position in Hasbro during the 2nd quarter valued at about $1,268,000. Advisor Partners LLC increased its holdings in Hasbro by 6.5% during the 2nd quarter. Advisor Partners LLC now owns 7,514 shares of the company’s stock valued at $794,000 after acquiring an additional 461 shares in the last quarter. Portland Global Advisors LLC increased its holdings in Hasbro by 0.6% during the 2nd quarter. Portland Global Advisors LLC now owns 35,917 shares of the company’s stock valued at $3,796,000 after acquiring an additional 225 shares in the last quarter. Finally, Creative Planning increased its holdings in Hasbro by 1.6% during the 2nd quarter. Creative Planning now owns 7,704 shares of the company’s stock valued at $814,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 87.11% of the company’s stock.

Shares of Hasbro stock traded up $6.84 during mid-day trading on Tuesday, hitting $119.98. 33,150 shares of the stock were exchanged, compared to its average volume of 1,340,228. Hasbro, Inc. has a twelve month low of $76.84 and a twelve month high of $126.87. The company has a market cap of $14.45 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 2.28 and a beta of 1.04. The stock has a 50-day moving average of $111.80. The company has a quick ratio of 2.11, a current ratio of 2.64 and a debt-to-equity ratio of 0.99.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.27. Hasbro had a net margin of 6.69% and a return on equity of 30.92%. The company had revenue of $984.54 million for the quarter, compared to analysts’ expectations of $958.91 million. During the same period last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Hasbro, Inc. will post 4.71 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.72 annualized dividend and a dividend yield of 2.27%. Hasbro’s dividend payout ratio is currently 70.65%.

In other Hasbro news, EVP Stephen J. Davis sold 4,200 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $98.24, for a total transaction of $412,608.00. Following the sale, the executive vice president now directly owns 39,238 shares of the company’s stock, valued at approximately $3,854,741.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.30% of the stock is owned by company insiders.

Several research firms have weighed in on HAS. Wells Fargo & Co raised their target price on shares of Hasbro from $95.00 to $111.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Hasbro from $95.00 to $99.00 and gave the company a “hold” rating in a report on Monday, July 15th. KeyCorp raised their target price on shares of Hasbro from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Barclays raised their target price on shares of Hasbro from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, SunTrust Banks raised their target price on shares of Hasbro to $118.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $118.85.

Hasbro Profile

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.

Further Reading: Hedge Funds Explained

Institutional Ownership by Quarter for Hasbro (NASDAQ:HAS)

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