iA Global Asset Management Inc. Purchases New Shares in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• iA Global Asset Management Inc. purchased 4,650 shares of Hasbro, Inc. for approximately $286,000 during the first quarter, indicating growing institutional interest in the company.
• Hasbro reported $1.30 earnings per share for the last quarter, significantly beating analysts' estimates of $0.78, despite a 1.5% decline in revenue from the same quarter last year.
• The company announced a quarterly dividend of $0.70 per share, representing a 3.6% yield, to be paid on September 3rd to shareholders of record.

iA Global Asset Management Inc. bought a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,650 shares of the company's stock, valued at approximately $286,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Hasbro by 3.9% during the 1st quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company's stock valued at $1,754,000 after purchasing an additional 1,072 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Hasbro by 20.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company's stock valued at $1,036,000 after purchasing an additional 2,866 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Hasbro by 60.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,597 shares of the company's stock valued at $1,021,000 after purchasing an additional 6,225 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Hasbro by 7.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,772 shares of the company's stock valued at $785,000 after purchasing an additional 931 shares during the period. Finally, Merit Financial Group LLC bought a new stake in Hasbro during the 1st quarter valued at approximately $306,000. Institutional investors own 91.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HAS shares. Citigroup increased their target price on Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. DA Davidson upped their price target on Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Monness Crespi & Hardt upped their price target on Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Bank of America upped their price target on Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.27.

Hasbro Price Performance

Shares of HAS traded up $0.14 during mid-day trading on Friday, reaching $77.49. The company had a trading volume of 2,116,432 shares, compared to its average volume of 2,458,307. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $78.83. 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 company's 50-day moving average is $73.34 and its 200-day moving average is $65.07. The company has a market capitalization of $10.87 billion, a P/E ratio of -19.09, a P/E/G ratio of 1.02 and a beta of 0.60.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $980.80 million during the quarter, compared to analysts' expectations of $891.82 million. During the same period in the prior year, the firm posted $1.22 EPS. Hasbro's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 20th. Hasbro's dividend payout ratio (DPR) is currently -68.97%.

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.