Edge Asset Management Inc Lowers stake in Hasbro (HAS)

Hasbro (HAS) : Edge Asset Management Inc reduced its stake in Hasbro by 0.19% during the most recent quarter end. The investment management company now holds a total of 2,525,940 shares of Hasbro which is valued at $214,982,753 after selling 4,902 shares in Hasbro , the firm said in a disclosure report filed with the SEC on May 10, 2016.Hasbro makes up approximately 2.05% of Edge Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Wfg Advisors Lp boosted its stake in HAS in the latest quarter, The investment management firm added 11 additional shares and now holds a total of 2,532 shares of Hasbro which is valued at $215,499. Hasbro makes up approx 0.06% of Wfg Advisors Lp’s portfolio. Harel Insurance Investments Financial Services Ltd. added HAS to its portfolio by purchasing 133 company shares during the most recent quarter which is valued at $11,317.State Of New Jersey Common Pension Fund D reduced its stake in HAS by selling 520,000 shares or 56.52% in the most recent quarter. The Hedge Fund company now holds 400,000 shares of HAS which is valued at $33,856,000. Hasbro makes up approx 0.15% of State Of New Jersey Common Pension Fund D’s portfolio.Glenmede Trust Co Na boosted its stake in HAS in the latest quarter, The investment management firm added 2,560 additional shares and now holds a total of 51,584 shares of Hasbro which is valued at $4,366,070. Hasbro makes up approx 0.03% of Glenmede Trust Co Na’s portfolio.

Hasbro opened for trading at $84.9 and hit $85.96 on the upside on Monday, eventually ending the session at $85.46, with a gain of 0.41% or 0.35 points. The heightened volatility saw the trading volume jump to 6,12,209 shares. Company has a market cap of $10,657 M.

On the company’s financial health, Hasbro reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.24. The company had revenue of $831.20 million for the quarter, compared to analysts expectations of $779.23 million. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on Hasbro. Piper Jaffray Downgraded Hasbro on May 10, 2016 to ” Neutral”, Price Target of the shares are set at $88.Company shares were Reiterated by Monness Crespi & Hardt on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 93 from a previous price target of $84 .JP Morgan Initiated Hasbro on Apr 7, 2016 to “Neutral”, Price Target of the shares are set at $81.

Hasbro Inc. (Hasbro) through its wholly owned Hasbro Studios LLC (Hasbro Studios) creates entertainment brand storytelling across mediums including television film and among others. Its brand blueprint involves re-imagining re-inventing and re-igniting its owned and controlled brands and imagining inventing and igniting new brands through toy and game innovation immersive entertainment offerings including television programming and motion pictures and a range of products ranging from traditional to digital. The Company markets its brands under product categories which include boys games girls and preschool toys. The Company’s business operations include United States Canada International Entertainment and Licensing. Its global operations include arranging product manufacturing and sourcing for the United States and Canada and International operations. Its brands include LITTLEST PET SHOP MONOPOLY MY LITTLE PONY NERF PLAY-DOH and TRANSFORMERS.

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