Applied Finance Capital Management LLC Raises Stock Position in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Applied Finance Capital Management LLC increased its position in Hasbro, Inc. by 46.3%, owning 14,945 shares valued at approximately $919,000 as of the most recent SEC filing.
• Hasbro's stock received multiple upgrades from analysts, with Bank of America raising its price target from $85.00 to $90.00 and Citigroup from $79.00 to $91.00, leading to an average rating of "Moderate Buy".
• The company announced a quarterly dividend of $0.70 per share, translating to an annualized dividend yield of 3.73%, with the ex-dividend date set for August 20th.

Applied Finance Capital Management LLC grew its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 46.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,945 shares of the company's stock after buying an additional 4,733 shares during the quarter. Applied Finance Capital Management LLC's holdings in Hasbro were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HAS. Commerce Bank grew its holdings in Hasbro by 1.2% during the 4th quarter. Commerce Bank now owns 14,540 shares of the company's stock valued at $813,000 after purchasing an additional 171 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in 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 in the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in Hasbro by 21.6% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock worth $64,000 after acquiring an additional 186 shares in the last quarter. Blair William & Co. IL grew its stake in Hasbro by 1.0% in the 4th quarter. Blair William & Co. IL now owns 19,335 shares of the company's stock worth $1,081,000 after acquiring an additional 192 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Hasbro by 16.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock worth $91,000 after acquiring an additional 205 shares in the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Stock Performance

Shares of NASDAQ HAS traded up $0.24 during midday trading on Wednesday, reaching $76.54. The company had a trading volume of 340,538 shares, compared to its average volume of 2,057,630. The business's 50-day simple moving average is $71.74 and its 200 day simple moving average is $64.00. The stock has a market cap of $10.72 billion, a P/E ratio of -18.86, a P/E/G ratio of 1.00 and a beta of 0.59. Hasbro, Inc. has a 1 year low of $49.00 and a 1 year high of $78.83. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 negative net margin of 13.37% and a positive return on equity of 64.49%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. On average, analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a $0.70 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.66%. Hasbro's dividend payout ratio is currently -68.97%.

Wall Street Analysts Forecast Growth

HAS has been the topic of a number of research analyst reports. DA Davidson upped their target price on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Morgan Stanley upped their target price on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Roth Capital upped their target price 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. The Goldman Sachs Group raised shares of Hasbro from a "neutral" rating to a "buy" rating and upped their price target for the stock from $66.00 to $85.00 in a research report on Monday, June 30th. Finally, Bank of America upped their price target on shares of Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.27.

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.