Millennium Management LLC Increases Position in Hasbro, Inc. (HAS)

Millennium Management LLC boosted its position in Hasbro, Inc. (NASDAQ:HAS) by 224.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 679,364 shares of the company’s stock after acquiring an additional 469,859 shares during the period. Millennium Management LLC owned 0.54% of Hasbro worth $57,270,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Optimum Investment Advisors purchased a new position in Hasbro during the 1st quarter valued at about $117,000. Dupont Capital Management Corp grew its holdings in Hasbro by 88.4% during the 1st quarter. Dupont Capital Management Corp now owns 1,846 shares of the company’s stock valued at $156,000 after buying an additional 866 shares in the last quarter. Delpha Capital Management LLC purchased a new position in Hasbro during the 4th quarter valued at about $161,000. Csenge Advisory Group purchased a new position in Hasbro during the 1st quarter valued at about $202,000. Finally, Laurel Wealth Advisors Inc. purchased a new position in shares of Hasbro during the fourth quarter worth about $209,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Shares of HAS opened at $91.60 on Friday. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.62 and a beta of 0.86. The company has a quick ratio of 2.94, a current ratio of 3.54 and a debt-to-equity ratio of 1.08. Hasbro, Inc. has a 1 year low of $79.00 and a 1 year high of $116.20.

Hasbro (NASDAQ:HAS) last issued its earnings results on Monday, April 23rd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.21). The firm had revenue of $716.30 million during the quarter, compared to analysts’ expectations of $816.00 million. Hasbro had a return on equity of 35.43% and a net margin of 4.25%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. sell-side analysts anticipate that Hasbro, Inc. will post 4.83 earnings per share for the current fiscal year.

Hasbro announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 17th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Tuesday, July 31st. Hasbro’s dividend payout ratio is currently 46.15%.

Several research analysts have recently commented on the company. BidaskClub lowered Hasbro from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. BMO Capital Markets cut their price objective on Hasbro from $100.00 to $96.00 and set a “market perform” rating for the company in a report on Thursday, March 8th. They noted that the move was a valuation call. Jefferies Financial Group set a $110.00 price objective on Hasbro and gave the stock a “buy” rating in a report on Thursday, March 15th. SunTrust Banks reissued a “hold” rating and set a $90.00 price objective on shares of Hasbro in a report on Thursday, April 12th. Finally, Zacks Investment Research lowered Hasbro from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Hasbro has a consensus rating of “Hold” and an average price target of $102.07.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.

Institutional Ownership by Quarter for Hasbro (NASDAQ:HAS)

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