Hasbro, Inc. (NASDAQ:HAS) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Hasbro, Inc. by 41.3% in the first quarter, owning 131,767 shares valued at approximately $8.1 million.
• Several other institutional investors also bought shares, with 91.83% of Hasbro's stock now owned by institutional investors and hedge funds.
• JPMorgan Chase raised its price target for Hasbro from $75 to $94 while maintaining an "overweight" rating, contributing to an overall consensus rating of "Moderate Buy" for the stock.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 41.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,767 shares of the company's stock after purchasing an additional 38,530 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Hasbro worth $8,102,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Parvin Asset Management LLC acquired a new stake in shares of Hasbro in the fourth quarter valued at about $25,000. Sentry Investment Management LLC acquired a new stake in shares of Hasbro during the 1st quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its position in shares of Hasbro by 130.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after acquiring an additional 269 shares during the period. Itau Unibanco Holding S.A. lifted its position in shares of Hasbro by 32.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock valued at $41,000 after acquiring an additional 178 shares during the period. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Hasbro during the fourth quarter worth $43,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on HAS. Monness Crespi & Hardt lifted their price objective on Hasbro from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wall Street Zen raised Hasbro from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group upgraded shares of Hasbro from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $66.00 to $85.00 in a research report on Monday, June 30th. Roth Capital lifted their target price on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Bank of America lifted their target price 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 twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Hasbro currently has an average rating of "Moderate Buy" and a consensus price target of $86.42.

Hasbro Trading Up 2.6%

Shares of NASDAQ:HAS traded up $2.07 during trading on Wednesday, reaching $80.32. The stock had a trading volume of 3,413,260 shares, compared to its average volume of 2,503,362. The business has a fifty day moving average price of $74.13 and a 200-day moving average price of $65.45. 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 stock has a market cap of $11.26 billion, a P/E ratio of -19.78, a PEG ratio of 1.03 and a beta of 0.60. Hasbro, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $80.42.

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

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 20th. Hasbro's dividend payout ratio is presently -68.97%.

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.