California State Teachers Retirement System increased its stake in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 24.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,866 shares of the company's stock after buying an additional 30,825 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Hasbro worth $14,683,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Readystate Asset Management LP acquired a new position in shares of Hasbro in the first quarter valued at approximately $14,190,000. Royal Bank of Canada raised its stake in shares of Hasbro by 50.3% during the first quarter. Royal Bank of Canada now owns 402,365 shares of the company's stock worth $37,663,000 after purchasing an additional 134,600 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Hasbro by 80.7% during the first quarter. Empowered Funds LLC now owns 31,625 shares of the company's stock worth $2,960,000 after purchasing an additional 14,125 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Hasbro by 10.0% during the first quarter. Lazard Asset Management LLC now owns 5,767 shares of the company's stock worth $540,000 after purchasing an additional 523 shares during the period. Finally, Castleark Management LLC grew its position in Hasbro by 29.9% in the 1st quarter. Castleark Management LLC now owns 94,701 shares of the company's stock valued at $8,864,000 after buying an additional 21,800 shares during the last quarter. Institutional investors and hedge funds own 91.83% of the company's stock.
Hasbro Stock Performance
NASDAQ:HAS opened at $93.94 on Monday. The stock has a fifty day moving average price of $84.47 and a two-hundred day moving average price of $90.63. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.72 and a beta of 0.47. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66. 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 released its earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro's quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 earnings per share. As a group, sell-side analysts anticipate that Hasbro, Inc. will post 6.13 earnings per share for the current fiscal year.
Hasbro Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. Hasbro's dividend payout ratio (DPR) is 50.36%.
Insider Activity at Hasbro
In related news, insider John Hight sold 3,186 shares of the business's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the sale, the insider owned 67,557 shares of the company's stock, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Gina M. Goetter sold 8,265 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $93.96, for a total transaction of $776,579.40. Following the transaction, the chief financial officer owned 79,839 shares in the company, valued at $7,501,672.44. The trade was a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,451 shares of company stock worth $3,987,379 over the last 90 days. Company insiders own 0.71% of the company's stock.
Wall Street Analysts Forecast Growth
HAS has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Hasbro from $92.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 9th. Bank of America reduced their target price on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. BNP Paribas Exane lowered their target price 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. Jefferies Financial Group dropped their price target on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Finally, DA Davidson cut their price target on shares of Hasbro from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, July 22nd. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Hasbro presently has an average rating of "Moderate Buy" and a consensus price target of $109.07.
Get Our Latest Analysis on Hasbro
More Hasbro News
Here are the key news stories impacting Hasbro this week:
- Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating, with an average price target of $109.07 versus recent trading levels. Twelve analysts rate Hasbro a Buy, compared with three Holds and one Sell. Hasbro receives Moderate Buy consensus
- Positive Sentiment: Wizards of the Coast unveiled new Dungeons & Dragons initiatives, including a World of Warcraft crossover launching in November, along with planned Dark Sun and Star Wars experiences. The announcements could strengthen Hasbro’s licensing, gaming and fan-engagement opportunities. Dungeons and Dragons announcements
- Positive Sentiment: Hasbro prevailed in a long-running copyright dispute involving Peppa Pig and Vietnam’s Wolfoo, protecting an important intellectual-property asset and potentially limiting unauthorized competition. Peppa Pig copyright case
- Positive Sentiment: New Transformers: Age of the Primes action figures provide additional product support for one of Hasbro’s major brands. Transformers action figures
- Neutral Sentiment: Hasbro declared a quarterly dividend of $0.70, or $2.80 annually, representing an approximately 3% yield. The dividend is payable September 2 to shareholders of record August 19.
- Negative Sentiment: Insider selling may weigh on sentiment: CFO Gina Goetter sold 11,000 shares for about $1.05 million, while John Hight sold 3,186 shares for roughly $299,000. Timothy J. Kilpin also sold 20,000 shares, although that transaction was reported as being to cover tax withholding on vested equity awards. Hasbro insider sales
About Hasbro
(
Free Report)
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.
Further Reading
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