Metis Global Partners LLC Acquires New Stake in Hasbro, Inc. $HAS

Metis Global Partners LLC acquired a new stake in Hasbro, Inc. (NASDAQ:HAS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,191 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. DekaBank Deutsche Girozentrale grew its holdings in shares of Hasbro by 0.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 34,020 shares of the company’s stock worth $2,490,000 after purchasing an additional 167 shares during the last quarter. RNC Capital Management LLC boosted its position in Hasbro by 1.3% in the 2nd quarter. RNC Capital Management LLC now owns 13,295 shares of the company’s stock valued at $981,000 after buying an additional 170 shares during the period. State of Michigan Retirement System grew its stake in Hasbro by 0.6% in the 2nd quarter. State of Michigan Retirement System now owns 35,812 shares of the company’s stock worth $2,644,000 after acquiring an additional 200 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Hasbro by 18.3% during the second quarter. Pinnacle Bancorp Inc. now owns 1,307 shares of the company’s stock worth $96,000 after acquiring an additional 202 shares during the period. Finally, New Hampshire Trust raised its stake in shares of Hasbro by 5.2% during the second quarter. New Hampshire Trust now owns 5,164 shares of the company’s stock valued at $381,000 after acquiring an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Insider Activity at Hasbro

In other Hasbro news, Director Hope F. Cochran sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $77.24, for a total value of $308,960.00. Following the completion of the sale, the director directly owned 17,102 shares in the company, valued at $1,320,958.48. This trade represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christian P. Cocks sold 27,800 shares of Hasbro stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the completion of the transaction, the chief executive officer directly owned 249,861 shares in the company, valued at $19,719,030.12. This represents a 10.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,357 shares of company stock valued at $3,199,818 over the last 90 days. Insiders own 0.85% of the company’s stock.

Hasbro Trading Down 0.3%

Shares of NASDAQ HAS opened at $78.90 on Friday. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $82.19. The business has a fifty day moving average price of $76.08 and a 200 day moving average price of $73.69. The stock has a market capitalization of $11.07 billion, a P/E ratio of -19.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The company has a debt-to-equity ratio of 7.65, a current ratio of 1.70 and a quick ratio of 1.42.

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

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, November 19th. Hasbro’s payout ratio is -69.83%.

Analyst Ratings Changes

HAS has been the topic of several research analyst reports. Zacks Research cut Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Monness Crespi & Hardt upped their target price on Hasbro from $80.00 to $90.00 in a report on Wednesday, September 17th. Wolfe Research raised their price target on Hasbro from $89.00 to $90.00 in a research note on Wednesday, October 29th. Seaport Res Ptn upgraded Hasbro to a “strong-buy” rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Hasbro from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Hasbro Company 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.