Sound Income Strategies LLC Grows Stock Position in Hasbro, Inc. (NASDAQ:HAS)

Sound Income Strategies LLC lifted its stake in Hasbro, Inc. (NASDAQ:HAS) by 8.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,668 shares of the company’s stock after buying an additional 10,547 shares during the quarter. Sound Income Strategies LLC’s holdings in Hasbro were worth $7,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HAS. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Hasbro by 5.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,509 shares of the company’s stock valued at $230,000 after acquiring an additional 215 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Hasbro by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 59,042 shares of the company’s stock valued at $3,905,000 after purchasing an additional 220 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Hasbro by 0.8% in the fourth quarter. Arizona State Retirement System now owns 36,225 shares of the company’s stock valued at $1,850,000 after purchasing an additional 300 shares during the last quarter. ST Germain D J Co. Inc. lifted its position in Hasbro by 16.3% during the first quarter. ST Germain D J Co. Inc. now owns 2,175 shares of the company’s stock worth $123,000 after buying an additional 305 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new stake in Hasbro in the 3rd quarter valued at $26,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group raised their target price on Hasbro from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. DA Davidson boosted their target price on shares of Hasbro from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Roth Mkm boosted their target price on shares of Hasbro from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $77.00 price target on shares of Hasbro in a research report on Monday, May 20th. Finally, JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $61.00 to $74.00 in a research report on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Hasbro presently has an average rating of “Moderate Buy” and an average price target of $69.00.

Insiders Place Their Bets

In other news, EVP Tarrant L. Sibley sold 13,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $60.26, for a total value of $783,380.00. Following the sale, the executive vice president now directly owns 53,003 shares in the company, valued at $3,193,960.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Hasbro Trading Down 2.3 %

Shares of HAS stock traded down $1.37 on Wednesday, hitting $58.03. The stock had a trading volume of 1,443,909 shares, compared to its average volume of 1,813,937. The company’s 50 day moving average price is $60.23 and its 200-day moving average price is $54.62. Hasbro, Inc. has a 1 year low of $42.66 and a 1 year high of $73.57. The firm has a market capitalization of $8.08 billion, a P/E ratio of -5.72, a P/E/G ratio of 0.61 and a beta of 0.65. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 0.93.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.34. The business had revenue of $757.30 million for the quarter, compared to analysts’ expectations of $739.84 million. Hasbro had a negative net margin of 29.60% and a positive return on equity of 25.41%. The business’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. Analysts anticipate that Hasbro, Inc. will post 3.72 earnings per share for the current year.

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.