Range Financial Group LLC Acquires New Holdings in Hasbro, Inc. $HAS

Range Financial Group LLC bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,131 shares of the company’s stock, valued at approximately $2,892,000. Hasbro accounts for about 1.0% of Range Financial Group LLC’s holdings, making the stock its 26th biggest holding.

A number of other institutional investors have also made changes to their positions in HAS. Bank of America Corp DE lifted its holdings in shares of Hasbro by 128.7% in the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after acquiring an additional 1,677,962 shares during the last quarter. Norges Bank purchased a new stake in Hasbro in the second quarter valued at approximately $123,710,000. AQR Capital Management LLC lifted its stake in Hasbro by 95.7% during the second quarter. AQR Capital Management LLC now owns 2,259,812 shares of the company’s stock worth $164,831,000 after purchasing an additional 1,105,004 shares in the last quarter. Mane Global Capital Management LP purchased a new position in shares of Hasbro during the second quarter worth $77,471,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Hasbro during the third quarter worth $30,608,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group increased their target price on Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research boosted their price target on shares of Hasbro from $89.00 to $90.00 in a research note on Wednesday, October 29th. Bank of America increased their price target on shares of Hasbro from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price objective on shares of Hasbro in a research note on Sunday, December 14th. Finally, Citigroup upped their target price on shares of Hasbro from $91.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

Hasbro Stock Performance

Shares of HAS opened at $82.83 on Tuesday. Hasbro, Inc. has a 1 year low of $49.00 and a 1 year high of $85.14. The stock has a market capitalization of $11.62 billion, a PE ratio of -20.66, a PEG ratio of 1.61 and a beta of 0.55. The company has a debt-to-equity ratio of 7.65, a quick ratio of 1.42 and a current ratio of 1.70. The stock has a 50-day simple moving average of $79.55 and a 200-day simple moving average of $77.36.

Hasbro (NASDAQ:HAS) last released its earnings results on Thursday, October 23rd. The company reported $1.68 earnings per share for the quarter, topping 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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

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

Insider Activity

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

About Hasbro

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.