Mirae Asset Global Investments Co. Ltd. Purchases 35,716 Shares of Hasbro, Inc. $HAS

Key Points

• Mirae Asset Global Investments opened a Hasbro position in the third quarter, buying 35,716 shares valued at approximately $3.13 million. Institutional investors own about 91.83% of the company’s stock.
• Hasbro reported quarterly earnings of $2.90 per share, beating the $1.86 consensus estimate, while revenue rose 15% year over year to $1.60 billion.
• The company announced a quarterly dividend of $0.70 per share, equivalent to $2.80 annually and a 2.4% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $114.93.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,716 shares of the company's stock, valued at approximately $3,132,000.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. increased its position in Hasbro by 19.9% in the third quarter. Mather Group LLC. now owns 704 shares of the company's stock worth $62,000 after buying an additional 117 shares in the last quarter. Marathon Mission Inc. grew its stake in shares of Hasbro by 1.4% during the 2nd quarter. Marathon Mission Inc. now owns 9,152 shares of the company's stock valued at $756,000 after acquiring an additional 128 shares during the period. Tema ETFs LLC grew its stake in shares of Hasbro by 7.1% during the 2nd quarter. Tema ETFs LLC now owns 2,183 shares of the company's stock valued at $180,000 after acquiring an additional 145 shares during the period. Empirical Finance LLC increased its holdings in Hasbro by 3.4% in the 2nd quarter. Empirical Finance LLC now owns 4,751 shares of the company's stock worth $392,000 after acquiring an additional 155 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its holdings in Hasbro by 5.3% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,127 shares of the company's stock worth $258,000 after acquiring an additional 156 shares in the last quarter. 91.83% of the stock is owned by institutional investors.

Hasbro Price Performance

Shares of Hasbro stock traded down $0.63 on Friday, hitting $118.91. 1,789,416 shares of the company traded hands, compared to its average volume of 2,608,861. Hasbro, Inc. has a 52 week low of $74.78 and a 52 week high of $124.00. The business has a 50-day simple moving average of $98.78 and a 200 day simple moving average of $93.19. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.24 and a current ratio of 1.40. The stock has a market capitalization of $16.63 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.53 and a beta of 0.36.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $1.86 by $1.04. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.48 billion. Hasbro had a net margin of 18.44% and a return on equity of 140.60%. Hasbro's quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $1.68 earnings per share. Research analysts expect that Hasbro, Inc. will post 6.69 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, November 18th. Hasbro's payout ratio is currently 41.85%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HAS shares. DA Davidson lowered their price target on shares of Hasbro from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. Citigroup lifted their target price on shares of Hasbro from $117.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, October 21st. Weiss Ratings raised shares of Hasbro from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Finally, Argus increased their price target on Hasbro from $90.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.93.

Insider Buying and Selling

In related news, CFO Gina Goetter sold 7,262 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $118.99, for a total transaction of $864,105.38. Following the completion of the transaction, the chief financial officer directly owned 72,577 shares of the company's stock, valued at approximately $8,635,937.23. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Holly Barbacovi sold 5,057 shares of Hasbro stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $94.20, for a total value of $476,369.40. Following the completion of the sale, the insider directly owned 37,486 shares in the company, valued at approximately $3,531,181.20. The trade was a 11.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is currently owned by corporate insiders.

Hasbro Company Profile

Hasbro, Inc is a global branded entertainment company that develops and markets toys, games, entertainment experiences and consumer products. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Transformers, Nerf, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through a range of channels, including retail, e-commerce, digital gaming, entertainment content and licensing. Hasbro also works with third-party partners to extend its brands into film and television, apparel, publishing and other consumer products.

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