Mackenzie Financial Corp Has $281,000 Holdings in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Mackenzie Financial Corp significantly reduced its stake in Hasbro, Inc. by 61.0%, which resulted in ownership of 4,563 shares valued at approximately $281,000.
• Multiple analysts have boosted their price targets for Hasbro, with JPMorgan Chase raising it to $94.00, reflecting a strong consensus rating of "Moderate Buy" and an average target price of $86.27.
• Hasbro announced a quarterly dividend of $0.70 to be paid on September 3rd, representing a 3.6% yield for investors, with a payout ratio currently at -68.97%.

Mackenzie Financial Corp trimmed its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 61.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,563 shares of the company's stock after selling 7,133 shares during the quarter. Mackenzie Financial Corp's holdings in Hasbro were worth $281,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in Hasbro during the fourth quarter worth approximately $317,000. Wellington Management Group LLP grew its stake in Hasbro by 27.7% during the fourth quarter. Wellington Management Group LLP now owns 54,403 shares of the company's stock worth $3,042,000 after buying an additional 11,811 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Hasbro during the fourth quarter worth approximately $44,000. Wedbush Securities Inc. grew its stake in Hasbro by 16.9% during the fourth quarter. Wedbush Securities Inc. now owns 3,670 shares of the company's stock worth $205,000 after buying an additional 530 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Hasbro by 186.4% during the fourth quarter. Russell Investments Group Ltd. now owns 95,753 shares of the company's stock worth $5,354,000 after buying an additional 62,315 shares during the period. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Price Performance

HAS traded up $0.66 on Tuesday, reaching $78.23. The company had a trading volume of 1,515,406 shares, compared to its average volume of 2,059,563. The company has a fifty day moving average of $73.58 and a 200-day moving average of $65.26. The company has a market capitalization of $10.97 billion, a P/E ratio of -19.27, a PEG ratio of 1.02 and a beta of 0.60. 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, Inc. has a one year low of $49.00 and a one year high of $78.83.

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

Hasbro Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Hasbro from $83.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group upgraded shares of Hasbro from a "neutral" rating to a "buy" rating and increased their price objective for the company from $66.00 to $85.00 in a research note on Monday, June 30th. Bank of America increased their price objective on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Citigroup increased their price objective on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Hasbro presently has a consensus 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.