Bank of New York Mellon Corp Makes New $988,000 Investment in JAKKS Pacific, Inc. $JAKK

Key Points

• Bank of New York Mellon initiated a $988,000 position in JAKKS Pacific, purchasing 42,435 shares and holding approximately 0.37% of the company. Institutional investors collectively own 44.38% of JAKK.
• JAKKS Pacific reported quarterly earnings of $0.25 per share, surpassing the $0.06-per-share loss analysts expected, while revenue of $139.24 million exceeded estimates of $123.01 million.
• The company declared a quarterly dividend of $0.25 per share, equivalent to an annualized dividend of $1.00 and a 4.2% yield; analysts’ average rating remains “Hold,” despite several recent rating upgrades.

Bank of New York Mellon Corp bought a new stake in JAKKS Pacific, Inc. (NASDAQ:JAKK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 42,435 shares of the company's stock, valued at approximately $988,000. Bank of New York Mellon Corp owned approximately 0.37% of JAKKS Pacific as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of JAKKS Pacific by 543.6% during the 1st quarter. Royal Bank of Canada now owns 2,066 shares of the company's stock valued at $41,000 after purchasing an additional 1,745 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in JAKKS Pacific in the third quarter worth about $46,000. Quarry LP purchased a new position in JAKKS Pacific in the third quarter valued at about $51,000. BNP Paribas Financial Markets boosted its stake in JAKKS Pacific by 155.8% in the second quarter. BNP Paribas Financial Markets now owns 3,072 shares of the company's stock valued at $64,000 after acquiring an additional 1,871 shares during the last quarter. Finally, State of Wyoming grew its position in shares of JAKKS Pacific by 42.8% during the 4th quarter. State of Wyoming now owns 4,140 shares of the company's stock valued at $70,000 after acquiring an additional 1,240 shares during the period. 44.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on JAKK shares. Weiss Ratings raised JAKKS Pacific from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Wall Street Zen upgraded JAKKS Pacific from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 23rd. Finally, Zacks Research raised JAKKS Pacific from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

JAKKS Pacific Stock Performance

Shares of NASDAQ JAKK opened at $23.79 on Friday. JAKKS Pacific, Inc. has a fifty-two week low of $14.86 and a fifty-two week high of $27.22. The stock has a market cap of $272.16 million, a PE ratio of 17.12 and a beta of 1.39. The stock has a fifty day moving average of $24.75 and a 200-day moving average of $22.75.

JAKKS Pacific (NASDAQ:JAKK - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.31. The business had revenue of $139.24 million during the quarter, compared to analyst estimates of $123.01 million. JAKKS Pacific had a return on equity of 4.33% and a net margin of 2.77%. On average, sell-side analysts predict that JAKKS Pacific, Inc. will post 1.38 EPS for the current year.

JAKKS Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, August 28th. JAKKS Pacific's payout ratio is presently 71.94%.

About JAKKS Pacific

JAKKS Pacific, Inc NASDAQ: JAKK is a Los Angeles–based company that designs, develops and markets a broad range of toys and consumer products. Since its founding in 1995 by industry veteran Jack Friedman, the company has built a diversified portfolio spanning three primary segments: Toys, Consumer Electronics & Seasonal, and Kids Furniture & Accessories. JAKKS Pacific specializes in both licensed and proprietary brands, collaborating with major entertainment and sports licensors to bring popular characters and franchises to market.

The company's Toys segment includes action figures, dolls, role-play items, collectible toys and outdoor activity products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.