Readystate Asset Management LP Invests $14.19 Million in Hasbro, Inc. $HAS

Readystate Asset Management LP acquired a new position in shares of Hasbro, Inc. (NASDAQ:HAS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 151,602 shares of the company’s stock, valued at approximately $14,190,000. Readystate Asset Management LP owned 0.11% of Hasbro at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dorato Capital Management bought a new stake in shares of Hasbro during the fourth quarter worth $1,804,000. Howard Capital Management Inc. acquired a new position in Hasbro in the 4th quarter worth $964,000. Nomura Asset Management Co. Ltd. increased its holdings in Hasbro by 734.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company’s stock worth $2,770,000 after purchasing an additional 29,735 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Hasbro in the 4th quarter valued at about $9,758,000. Finally, Oak Thistle LLC acquired a new position in shares of Hasbro during the fourth quarter worth about $1,140,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Hasbro Stock Performance

Shares of HAS opened at $96.34 on Wednesday. The company has a market cap of $13.63 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.66 and a beta of 0.49. The firm has a 50-day moving average of $84.14 and a 200-day moving average of $90.48. Hasbro, Inc. has a one year low of $69.50 and a one year high of $106.98. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46.

Hasbro (NASDAQ:HAS) last issued its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $1.30 EPS. Hasbro’s quarterly revenue was up 16.2% compared to the same quarter last year. As a group, equities analysts forecast that Hasbro, Inc. will post 6.13 earnings per share for the current year.

Hasbro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 annualized dividend and a yield of 2.9%. Hasbro’s dividend payout ratio is currently 50.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. BNP Paribas Exane decreased their price target on shares of Hasbro from $117.00 to $114.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Roth Capital reiterated a “buy” rating on shares of Hasbro in a report on Wednesday, July 22nd. Bank of America cut their price objective on shares of Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Finally, Wall Street Zen lowered shares of Hasbro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hasbro presently has an average rating of “Moderate Buy” and an average price target of $109.07.

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.