Bank of Nova Scotia Acquires Shares of 127,197 Hasbro, Inc. $HAS

Bank of Nova Scotia bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 127,197 shares of the company's stock, valued at approximately $10,505,000. Bank of Nova Scotia owned 0.09% of Hasbro as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Hasbro during the fourth quarter worth $27,000. CYBER HORNET ETFs LLC bought a new stake in shares of Hasbro during the 2nd quarter valued at $25,000. MUFG Securities EMEA plc bought a new stake in shares of Hasbro during the 2nd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Hasbro by 1,190.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock worth $32,000 after purchasing an additional 357 shares in the last quarter. Finally, Cedar Mountain Advisors LLC purchased a new stake in Hasbro during the 1st quarter worth about $37,000. Institutional investors own 91.83% of the company's stock.

Insider Transactions at Hasbro

In other news, CFO Gina M. Goetter sold 11,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $95.44, for a total transaction of $1,049,840.00. Following the transaction, the chief financial officer directly owned 88,104 shares in the company, valued at approximately $8,408,645.76. This represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth Hamren sold 1,975 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $92.84, for a total value of $183,359.00. Following the transaction, the director directly owned 9,896 shares in the company, valued at approximately $918,744.64. This represents a 16.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,415 shares of company stock valued at $4,260,164 over the last 90 days. Company insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BNP Paribas Exane reduced their target price on Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. JPMorgan Chase & Co. cut their price objective on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a report on Wednesday, July 22nd. DA Davidson lowered their target price on shares of Hasbro from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group cut their price target on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $109.43.

Hasbro Price Performance

HAS stock opened at $95.41 on Tuesday. The firm has a 50 day simple moving average of $87.33 and a two-hundred day simple moving average of $91.23. The stock has a market cap of $13.46 billion, a PE ratio of 17.16, a P/E/G ratio of 1.71 and a beta of 0.47. Hasbro, Inc. has a one year low of $69.50 and a one year high of $106.98. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business's quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the company posted $1.30 EPS. On average, analysts predict that Hasbro, Inc. will post 6.15 EPS for the current fiscal year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, August 19th. Hasbro's dividend payout ratio is presently 50.36%.

About Hasbro

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company's brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.

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