Castleark Management LLC Acquires Shares of 44,560 Hasbro, Inc. $HAS

Castleark Management LLC acquired a new position in shares of Hasbro, Inc. (NASDAQ:HAS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 44,560 shares of the company’s stock, valued at approximately $3,289,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HAS. MUFG Securities EMEA plc bought a new stake in Hasbro in the 2nd quarter worth about $28,000. Pittenger & Anderson Inc. bought a new position in shares of Hasbro in the second quarter valued at approximately $35,000. IFP Advisors Inc grew its holdings in shares of Hasbro by 489.2% in the second quarter. IFP Advisors Inc now owns 654 shares of the company’s stock valued at $48,000 after acquiring an additional 543 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Hasbro by 187.5% during the second quarter. Hillsdale Investment Management Inc. now owns 690 shares of the company’s stock valued at $51,000 after acquiring an additional 450 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Hasbro by 36.7% during the second quarter. NewEdge Advisors LLC now owns 686 shares of the company’s stock worth $51,000 after acquiring an additional 184 shares during the period. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Insider Buying and Selling at Hasbro

In related news, Director Hope F. Cochran sold 4,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $77.24, for a total transaction of $308,960.00. Following the sale, the director directly owned 17,102 shares in the company, valued at approximately $1,320,958.48. The trade was a 18.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HAS. Weiss Ratings restated a “sell (d-)” rating on shares of Hasbro in a research note on Wednesday, October 8th. Wolfe Research increased their price target on shares of Hasbro from $89.00 to $90.00 in a research report on Wednesday, October 29th. Seaport Res Ptn upgraded shares of Hasbro to a “strong-buy” rating in a report on Monday, November 10th. Zacks Research cut shares of Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $94.00 target price on shares of Hasbro in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.92.

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $81.55 on Monday. The firm has a market capitalization of $11.44 billion, a PE ratio of -20.34, a P/E/G ratio of 1.59 and a beta of 0.55. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 7.65. The company has a 50-day moving average price of $77.86 and a two-hundred day moving average price of $76.22. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $85.14.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. Hasbro had a negative net margin of 12.81% and a positive return on equity of 82.17%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company posted $1.73 EPS. Hasbro’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were given a $0.70 dividend. The ex-dividend date was Wednesday, November 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.4%. Hasbro’s payout ratio is -69.83%.

Hasbro Profile

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.