Portland Global Advisors Lowers stake in Hasbro (HAS)

Hasbro (HAS) : Portland Global Advisors reduced its stake in Hasbro by 1.96% during the most recent quarter end. The investment management company now holds a total of 37,185 shares of Hasbro which is valued at $3,010,498 after selling 745 shares in Hasbro , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Hasbro makes up approximately 1.34% of Portland Global Advisors’s portfolio.

Other Hedge Funds, Including , Pitcairn Co boosted its stake in HAS in the latest quarter, The investment management firm added 37 additional shares and now holds a total of 3,373 shares of Hasbro which is valued at $273,078. Hasbro makes up approx 0.03% of Pitcairn Co’s portfolio. Chesley Taft Associates sold out all of its stake in HAS during the most recent quarter. The investment firm sold 3,000 shares of HAS which is valued $241,200.Cullinan Associates Inc boosted its stake in HAS in the latest quarter, The investment management firm added 1,300 additional shares and now holds a total of 27,300 shares of Hasbro which is valued at $2,290,470. Hasbro makes up approx 0.19% of Cullinan Associates Inc’s portfolio.

Hasbro opened for trading at $80.73 and hit $81.55 on the upside on Friday, eventually ending the session at $81.23, with a gain of 0.30% or 0.24 points. The heightened volatility saw the trading volume jump to 9,53,920 shares. Company has a market cap of $10,187 M.

On the company’s financial health, Hasbro reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.39. The company had revenue of $878.90 million for the quarter, compared to analysts expectations of $859.30 million. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Hasbro. Hasbro was Upgraded by Piper Jaffray to ” Overweight” on Jul 19, 2016. Piper Jaffray Downgraded Hasbro on May 10, 2016 to ” Neutral”, Price Target of the shares are set at $88.

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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