Jupiter Topco LLC Invests $4.99 Million in Hasbro, Inc. $HAS

Jupiter Topco LLC acquired a new stake in shares of Hasbro, Inc. (NASDAQ:HAS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 60,405 shares of the company’s stock, valued at approximately $4,988,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Hasbro during the 2nd quarter worth approximately $2,204,689,000. Norges Bank bought a new position in shares of Hasbro in the fourth quarter worth approximately $147,748,000. Bank of America Corp DE increased its stake in shares of Hasbro by 128.7% in the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after purchasing an additional 1,677,962 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Hasbro during the 2nd quarter valued at $130,731,000. Finally, AQR Capital Management LLC raised its position in shares of Hasbro by 47.3% during the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock valued at $357,286,000 after purchasing an additional 1,399,499 shares during the period. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hasbro

In other Hasbro news, insider Timothy J. Kilpin sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the transaction, the insider owned 54,229 shares in the company, valued at $5,049,804.48. This trade represents a 26.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gina M. Goetter sold 8,265 shares of Hasbro stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $93.96, for a total value of $776,579.40. Following the completion of the sale, the chief financial officer directly owned 79,839 shares in the company, valued at approximately $7,501,672.44. The trade was a 9.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,415 shares of company stock valued at $4,260,164 over the last three months. Corporate insiders own 0.71% of the company’s stock.

Hasbro Stock Performance

HAS opened at $94.10 on Tuesday. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.72 and a beta of 0.47. The company has a fifty day moving average of $88.40 and a 200 day moving average of $91.15. Hasbro, Inc. has a fifty-two week low of $69.50 and a fifty-two week high of $106.98.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Hasbro, Inc. will post 6.18 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s payout ratio is 50.36%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HAS. JPMorgan Chase & Co. dropped their target price on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Roth Capital reissued a “buy” rating on shares of Hasbro in a report on Wednesday, July 22nd. Bank of America lowered their price objective on Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Wells Fargo & Company upped their price objective on Hasbro from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 20th. Finally, BNP Paribas Exane cut their target price on Hasbro from $117.00 to $114.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $109.43.

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.