Bank of Nova Scotia Purchases 46,166 Shares of Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Bank of Nova Scotia significantly increased its holdings in Hasbro, Inc. by 356.8% during the first quarter, now owning 59,105 shares valued at approximately $3.63 million.
• Hasbro reported earnings of $1.30 per share, surpassing expectations, with total revenue of $980.8 million for the quarter, despite a year-over-year decline of 1.5% in revenue.
• The company declared a quarterly dividend of $0.70 per share, yielding about 3.6%, with a record date of August 20th and payment scheduled for September 3rd.

Bank of Nova Scotia increased its position in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 356.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,105 shares of the company's stock after buying an additional 46,166 shares during the quarter. Bank of Nova Scotia's holdings in Hasbro were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HAS. Kovitz Investment Group Partners LLC increased its stake in shares of Hasbro by 313.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,200,860 shares of the company's stock valued at $178,960,000 after buying an additional 2,427,299 shares during the period. Invesco Ltd. boosted its position in shares of Hasbro by 28.5% during the fourth quarter. Invesco Ltd. now owns 3,159,524 shares of the company's stock valued at $176,649,000 after purchasing an additional 701,660 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Hasbro by 23.7% during the fourth quarter. Marshall Wace LLP now owns 2,643,381 shares of the company's stock valued at $147,791,000 after purchasing an additional 507,054 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Hasbro by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,060,170 shares of the company's stock valued at $115,183,000 after purchasing an additional 165,919 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Hasbro by 22.4% during the fourth quarter. Northern Trust Corp now owns 1,324,552 shares of the company's stock valued at $74,056,000 after purchasing an additional 242,415 shares in the last quarter. Institutional investors own 91.83% of the company's stock.

Analyst Ratings Changes

HAS has been the topic of several analyst reports. Morgan Stanley boosted their target price on Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group raised Hasbro from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $85.00 in a report on Monday, June 30th. Monness Crespi & Hardt upped their price target on Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Roth Capital upped their price target on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $86.27.

Hasbro Stock Performance

HAS traded up $0.14 during midday trading on Friday, reaching $77.49. The company had a trading volume of 2,116,432 shares, 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. The business has a 50-day moving average of $73.34 and a two-hundred day moving average of $65.01. The company has a market cap of $10.87 billion, a P/E ratio of -19.09, a P/E/G ratio of 1.02 and a beta of 0.60. Hasbro, Inc. has a 1 year low of $49.00 and a 1 year high of $78.83.

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

Hasbro Announces Dividend

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