Cookson Peirce & Co. Inc. Invests $775,000 in Hasbro, Inc. $HAS

Key Points

• Cookson Peirce & Co. Inc. has acquired a new position in Hasbro, purchasing 12,606 shares valued at approximately $775,000.
• Several institutional investors have increased their stakes in Hasbro, with Kovitz Investment Group boosting its holding by 313.8%, now owning over 3.2 million shares worth nearly $179 million.
• Hasbro recently announced a quarterly dividend of $0.70 per share, representing an annual yield of 3.5%, with the payout ratio sitting at -68.97%.

Cookson Peirce & Co. Inc. purchased a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,606 shares of the company's stock, valued at approximately $775,000.

Other hedge funds also recently modified their holdings of the company. Commerce Bank raised its stake in shares of Hasbro by 1.2% during the fourth quarter. Commerce Bank now owns 14,540 shares of the company's stock valued at $813,000 after acquiring an additional 171 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Hasbro by 32.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock valued at $41,000 after buying an additional 178 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Hasbro by 21.6% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock valued at $64,000 after buying an additional 186 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Hasbro by 16.2% during the first quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock valued at $91,000 after purchasing an additional 205 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Hasbro by 0.9% during the first quarter. Amalgamated Bank now owns 27,783 shares of the company's stock valued at $1,708,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.

Hasbro Price Performance

Shares of Hasbro stock traded up $0.59 during midday trading on Friday, hitting $81.14. 1,498,930 shares of the company were exchanged, compared to its average volume of 2,580,305. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. The firm has a market cap of $11.38 billion, a P/E ratio of -19.99, a PEG ratio of 1.05 and a beta of 0.60. Hasbro, Inc. has a 52 week low of $49.00 and a 52 week high of $81.31. The firm has a 50 day simple moving average of $74.74 and a 200-day simple moving average of $65.86.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.52. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%. The firm had revenue of $980.80 million during the quarter, compared to the consensus estimate of $891.82 million. During the same quarter in the previous year, the company posted $1.22 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Hasbro's payout ratio is -68.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday. DA Davidson upped their price objective on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Roth Capital increased their price target on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America raised their price target on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $86.42.

About Hasbro

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.