Headlands Technologies LLC Acquires 12,157 Shares of Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Headlands Technologies LLC significantly increased its stake in Hasbro by 551.8%, owning 14,360 shares valued at $883,000 as of the end of the most recent quarter.
• Several analysts raised their target prices for Hasbro, with Citigroup and Bank of America setting new targets of $91.00 and $90.00, respectively, reflecting a generally positive outlook for the stock.
• Hasbro announced a quarterly dividend of $0.70 per share, set to be paid on September 3rd, representing an annualized yield of 3.6%.

Headlands Technologies LLC grew its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 551.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,360 shares of the company's stock after acquiring an additional 12,157 shares during the period. Headlands Technologies LLC's holdings in Hasbro were worth $883,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in HAS. Parvin Asset Management LLC acquired a new position in Hasbro during the 4th quarter worth approximately $25,000. Sentry Investment Management LLC purchased a new stake in Hasbro in the 1st quarter valued at $28,000. SBI Securities Co. Ltd. raised its position in Hasbro by 130.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after purchasing an additional 269 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of Hasbro by 32.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock worth $41,000 after acquiring an additional 178 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Hasbro in the 4th quarter worth $43,000. Institutional investors and hedge funds own 91.83% of the company's stock.

Hasbro Stock Performance

HAS stock traded up $0.14 during trading on Friday, hitting $77.49. 2,116,432 shares of the company's stock traded hands, compared to its average volume of 2,458,307. The company has a quick ratio of 1.32, a current ratio of 1.66 and a debt-to-equity ratio of 12.31. Hasbro, Inc. has a 52 week low of $49.00 and a 52 week high of $78.83. The stock has a fifty day moving average price of $73.34 and a two-hundred day moving average price of $65.07. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of -19.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly 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 analyst estimates of $891.82 million. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. The company's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. As a group, equities analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 20th. Hasbro's dividend payout ratio (DPR) is presently -68.97%.

Analyst Upgrades and Downgrades

HAS has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Hasbro from a "neutral" rating to a "buy" rating and increased their price target for the company from $66.00 to $85.00 in a report on Monday, June 30th. Roth Capital raised their price target on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. DA Davidson lifted their price target on shares of Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Citigroup lifted their price target on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.27.

About Hasbro

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.