Canada Pension Plan Investment Board Purchases New Position in Hasbro, Inc. $HAS

Key Points

• Canada Pension Plan Investment Board acquired 109,100 Hasbro shares worth approximately $9.0 million, representing about 0.08% of the company. Institutional investors collectively own 91.83% of Hasbro.
• Hasbro reported quarterly earnings of $1.28 per share, beating estimates by $0.12, while revenue rose 16.2% year over year to $1.14 billion. The company declared a quarterly dividend of $0.70 per share, equivalent to a 3.0% annualized yield.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and a $109.43 price target. However, insiders sold 45,415 shares worth approximately $4.26 million over the past 90 days.

Canada Pension Plan Investment Board acquired a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 109,100 shares of the company's stock, valued at approximately $9,011,000. Canada Pension Plan Investment Board owned approximately 0.08% of Hasbro at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank grew its stake in shares of Hasbro by 10.2% during the fourth quarter. Huntington National Bank now owns 1,233 shares of the company's stock worth $101,000 after buying an additional 114 shares during the last quarter. Marathon Mission Inc. increased its holdings in shares of Hasbro by 1.4% during the second quarter. Marathon Mission Inc. now owns 9,152 shares of the company's stock worth $756,000 after buying an additional 128 shares in the last quarter. Severin Investments LLC lifted its stake in shares of Hasbro by 3.1% in the 1st quarter. Severin Investments LLC now owns 4,595 shares of the company's stock valued at $430,000 after acquiring an additional 137 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of Hasbro by 21.3% in the 1st quarter. Root Financial Partners LLC now owns 780 shares of the company's stock valued at $73,000 after acquiring an additional 137 shares during the last quarter. Finally, United Capital Financial Advisors LLC boosted its holdings in shares of Hasbro by 2.2% during the 3rd quarter. United Capital Financial Advisors LLC now owns 6,500 shares of the company's stock valued at $493,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 91.83% of the company's stock.

Insiders Place Their Bets

In other news, insider John Hight sold 3,186 shares of Hasbro stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total value of $298,560.06. Following the completion of the sale, the insider owned 67,557 shares in the company, valued at $6,330,766.47. The trade was a 4.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy J. Kilpin sold 20,000 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the transaction, the insider owned 54,229 shares in the company, valued at $5,049,804.48. The trade was a 26.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 45,415 shares of company stock valued at $4,260,164 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Hasbro Stock Performance

HAS stock opened at $94.23 on Friday. The firm has a market cap of $13.29 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.47. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. The stock has a 50-day moving average price of $88.20 and a 200-day moving average price of $91.26. Hasbro, Inc. has a 1-year low of $69.50 and a 1-year high of $106.98.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The firm's revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities research analysts expect that Hasbro, Inc. will post 6.18 earnings per share for the current year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.80 annualized dividend and a yield of 3.0%. Hasbro's payout ratio is 50.36%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HAS shares. JPMorgan Chase & Co. lowered their target price on Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price target on Hasbro from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Thursday, August 20th. Wall Street Zen lowered Hasbro from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. BNP Paribas Exane lowered their price objective on Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a research note on Wednesday, July 15th. Finally, Morgan Stanley raised their price objective on shares of Hasbro from $122.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Hasbro currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.43.

Hasbro Company Profile

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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