Cibc World Market Inc. Invests $2.02 Million in Hasbro, Inc. $HAS

Key Points

• CIBC World Market purchased 24,439 Hasbro shares worth approximately $2.02 million during the second quarter. Institutional investors collectively own 91.83% of Hasbro’s stock.
• Hasbro reported a quarterly earnings beat, with EPS of $1.28 versus the $1.16 consensus estimate and revenue of $1.14 billion, up 16.2% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $109.43, while Hasbro declared a quarterly dividend of $0.70 per share, equivalent to a 2.9% annualized yield.

Cibc World Market Inc. purchased a new stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 24,439 shares of the company's stock, valued at approximately $2,018,000.

Several other institutional investors have also modified their holdings of HAS. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Hasbro during the 4th quarter worth about $27,000. CYBER HORNET ETFs LLC purchased a new position in Hasbro during the 2nd quarter worth $25,000. MUFG Securities EMEA plc bought a new stake in shares of Hasbro in the second quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Hasbro by 1,190.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 357 shares in the last quarter. Finally, Cedar Mountain Advisors LLC bought a new position in Hasbro in the first quarter worth approximately $37,000. 91.83% of the stock is owned by institutional investors.

Key Headlines Impacting Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: New multiyear Upper Deck partnership: Hasbro and Upper Deck announced a global licensing agreement covering trading cards and tabletop games based on Transformers, G.I. Joe, Power Rangers, M.A.S.K., and Jem and the Holograms. The arrangement could generate incremental royalty and licensing revenue while extending Hasbro’s brands into the collectibles market. Upper Deck Debuts Transformers 40th Anniversary Card Set To Kick Off New Hasbro Partnership Upper Deck Announces New Licensing Agreement with Hasbro
• Positive Sentiment: Immediate product launch supports visibility: Upper Deck is debuting a Transformers 40th Anniversary trading-card set, alongside planned games and cards tied to the other Hasbro properties. The launch provides an early commercial platform for the partnership and may increase fan engagement and brand licensing exposure. Upper Deck and Hasbro Reveal New Games and Trading Cards
• Neutral Sentiment: Analyst sentiment remains constructive: Hasbro was reported to have an average analyst rating of “Moderate Buy,” which may provide some support for investor sentiment, but the report does not identify a new price-target revision or earnings estimate change. Hasbro Given Average Rating of Moderate Buy
• Neutral Sentiment: No reliable short-interest signal: The reported August short-interest data shows zero shares and a zero-day short ratio, with an invalid percentage change. This appears to be a data-quality issue rather than evidence of a meaningful shift in bearish positioning. Toy Stocks To Watch Now

Analyst Ratings Changes

A number of analysts have recently weighed in on HAS shares. JPMorgan Chase & Co. lowered their price target on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Bank of America cut their target price on Hasbro from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. BNP Paribas Exane dropped their price objective on shares of Hasbro from $117.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday, July 15th. Morgan Stanley upped their target price on Hasbro from $122.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, May 14th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a report on Wednesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.43.

Insider Activity at Hasbro

In other news, Director Elizabeth Hamren sold 1,975 shares of the company's stock in a transaction that occurred on 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Hight sold 3,186 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $93.71, for a total value of $298,560.06. Following the transaction, the insider owned 67,557 shares of the company's stock, valued at $6,330,766.47. This trade represents a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,415 shares of company stock valued at $4,260,164 in the last ninety days. Insiders own 0.71% of the company's stock.

Hasbro Stock Performance

HAS opened at $96.29 on Thursday. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. The firm has a market capitalization of $13.58 billion, a PE ratio of 17.32, a PEG ratio of 1.77 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 firm's 50-day moving average price is $87.83 and its 200 day moving average price is $91.24.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $1.30 EPS. The company's revenue for the quarter was up 16.2% on a year-over-year basis. As a group, sell-side analysts expect that Hasbro, Inc. will post 6.15 EPS for the current fiscal year.

Hasbro Dividend Announcement

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

Hasbro 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.

Want to see what other hedge funds are holding HAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hasbro, Inc. (NASDAQ:HAS - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source