Citigroup Inc. Raises Position in Hasbro, Inc. $HAS

Key Points

• Citigroup Inc. increased its stake in Hasbro, Inc. by 44.2% in the first quarter, owning 143,444 shares worth approximately $8.82 million.
• Several other institutional investors also boosted their investments in Hasbro, with a collective ownership of 91.83% held by hedge funds and institutional investors.
• Analysts have raised their price targets for Hasbro, with Goldman Sachs increasing it from $66 to $85 and JPMorgan Chase & Co. increasing it from $75 to $94, indicating a positive outlook for the stock.

Citigroup Inc. grew its stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 44.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 143,444 shares of the company's stock after acquiring an additional 43,995 shares during the period. Citigroup Inc. owned about 0.10% of Hasbro worth $8,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Hasbro by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,464,038 shares of the company's stock valued at $1,012,374,000 after acquiring an additional 105,624 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Hasbro by 313.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,200,860 shares of the company's stock valued at $178,960,000 after acquiring an additional 2,427,299 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Hasbro by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,060,170 shares of the company's stock worth $115,183,000 after buying an additional 165,919 shares during the period. Northern Trust Corp boosted its holdings in Hasbro by 22.4% in the 4th quarter. Northern Trust Corp now owns 1,324,552 shares of the company's stock worth $74,056,000 after buying an additional 242,415 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Hasbro by 15.3% in the 1st quarter. Deutsche Bank AG now owns 1,289,843 shares of the company's stock worth $79,312,000 after buying an additional 170,749 shares during the period. 91.83% of the stock is owned by institutional investors.

Hasbro Price Performance

Hasbro stock traded down $0.2250 during midday trading on Wednesday, hitting $79.8250. 470,313 shares of the company's stock were exchanged, compared to its average volume of 2,051,709. Hasbro, Inc. has a 52-week low of $49.00 and a 52-week high of $81.97. The stock has a 50-day moving average price of $75.24 and a two-hundred day moving average price of $66.12. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66. The company has a market cap of $11.19 billion, a P/E ratio of -19.67, a PEG ratio of 1.05 and a beta of 0.60.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.78 by $0.52. The business had revenue of $980.80 million during the quarter, compared to analysts' expectations of $891.82 million. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.The firm's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. On average, equities research analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. Hasbro's dividend payout ratio (DPR) is -68.97%.

Analyst Ratings Changes

HAS has been the subject of several analyst reports. Bank of America raised their price objective on shares of Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. UBS Group raised their price objective on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $66.00 to $85.00 in a report on Monday, June 30th. Roth Capital raised their price objective on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley raised their price objective on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.42.

Insider Buying and Selling at Hasbro

In other news, insider Roberta K. Thomson sold 1,002 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $79.81, for a total transaction of $79,969.62. Following the sale, the insider owned 51,301 shares in the company, valued at approximately $4,094,332.81. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.85% of the company's stock.

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.