Comerica Bank Boosts Stake in Hasbro, Inc. $HAS

Key Points

• Comerica Bank increased its stake in Hasbro, Inc. by 14.1%, acquiring an additional 6,525 shares and bringing its total holdings to 52,642 shares worth approximately $3.24 million.
• Hasbro reported an EPS of $1.30 for the latest quarter, significantly beating expectations of $0.78 and generating revenues of $980.80 million.
• The company declared a quarterly dividend of $0.70 per share, with an annualized dividend yield of 3.4%, set to be paid on September 3rd.

Comerica Bank boosted its holdings in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,642 shares of the company's stock after buying an additional 6,525 shares during the quarter. Comerica Bank's holdings in Hasbro were worth $3,237,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Hasbro by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,464,038 shares of the company's stock valued at $1,012,374,000 after buying an additional 105,624 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Hasbro by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,287,647 shares of the company's stock valued at $140,652,000 after buying an additional 227,477 shares during the last quarter. Northern Trust Corp increased its holdings in Hasbro by 7.4% in the first quarter. Northern Trust Corp now owns 1,422,977 shares of the company's stock valued at $87,499,000 after buying an additional 98,425 shares during the last quarter. Deutsche Bank AG increased its holdings in Hasbro by 15.3% in the first quarter. Deutsche Bank AG now owns 1,289,843 shares of the company's stock valued at $79,312,000 after buying an additional 170,749 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Hasbro by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,217,361 shares of the company's stock valued at $74,856,000 after buying an additional 27,547 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

Insider Buying and Selling

In other Hasbro news, CEO Christian P. Cocks sold 27,800 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $78.92, for a total value of $2,193,976.00. Following the completion of the transaction, the chief executive officer directly owned 249,861 shares in the company, valued at approximately $19,719,030.12. The trade was a 10.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy J. Kilpin sold 8,557 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total value of $696,882.08. Following the completion of the transaction, the insider owned 44,301 shares of the company's stock, valued at $3,607,873.44. This trade represents a 16.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,359 shares of company stock worth $2,970,828 in the last ninety days. Insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

HAS has been the topic of several recent analyst reports. UBS Group increased their target price on Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Morgan Stanley raised their price objective on Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup raised their price objective on Hasbro from $79.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Monness Crespi & Hardt raised their price objective on Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Bank of America raised their price objective on Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.42.

Hasbro Stock Performance

HAS traded down $0.27 during trading on Friday, reaching $80.14. The company's stock had a trading volume of 179,741 shares, compared to its average volume of 1,999,630. Hasbro, Inc. has a 52-week low of $49.00 and a 52-week high of $82.19. The company's fifty day moving average price is $77.90 and its 200-day moving average price is $67.84. The company has a market capitalization of $11.24 billion, a price-to-earnings ratio of -19.73, a price-to-earnings-growth ratio of 1.02 and a beta of 0.59. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66.

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

Hasbro Dividend Announcement

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

Hasbro 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.