Blue Grotto Capital LLC Invests $18.86 Million in Hasbro, Inc. $HAS

Blue Grotto Capital LLC bought a new position in Hasbro, Inc. (NASDAQ:HAS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 230,000 shares of the company’s stock, valued at approximately $18,860,000. Hasbro comprises about 1.9% of Blue Grotto Capital LLC’s portfolio, making the stock its 21st biggest position. Blue Grotto Capital LLC owned approximately 0.16% of Hasbro at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Hasbro by 24.7% in the third quarter. JPMorgan Chase & Co. now owns 744,270 shares of the company’s stock worth $56,455,000 after buying an additional 147,227 shares during the period. Dorato Capital Management acquired a new stake in shares of Hasbro in the fourth quarter worth $1,804,000. Crossmark Global Holdings Inc. boosted its position in shares of Hasbro by 186.4% in the third quarter. Crossmark Global Holdings Inc. now owns 23,395 shares of the company’s stock worth $1,775,000 after buying an additional 15,225 shares during the period. Aberdeen Group plc boosted its position in shares of Hasbro by 187.1% in the third quarter. Aberdeen Group plc now owns 23,161 shares of the company’s stock worth $1,757,000 after buying an additional 15,095 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Hasbro in the fourth quarter worth $9,758,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Hasbro Trading Up 1.3%

Hasbro stock opened at $84.99 on Tuesday. Hasbro, Inc. has a 52 week low of $67.11 and a 52 week high of $106.98. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65. The firm has a market capitalization of $12.03 billion, a PE ratio of -51.20, a PEG ratio of 2.05 and a beta of 0.48. The business’s 50-day simple moving average is $90.96 and its 200-day simple moving average is $90.31.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.27. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $969.20 million. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 earnings per share. Equities research analysts forecast that Hasbro, Inc. will post 6.01 earnings per share for the current year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Monday, June 1st were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, June 1st. Hasbro’s payout ratio is presently -168.67%.

Wall Street Analyst Weigh In

Several analysts have recently commented on HAS shares. Weiss Ratings cut Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Argus set a $105.00 target price on Hasbro in a research report on Friday, March 13th. Wall Street Zen cut Hasbro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Morgan Stanley boosted their target price on Hasbro from $122.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, Zacks Research raised Hasbro from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hasbro has an average rating of “Moderate Buy” and an average price target of $113.14.

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.