Northern Trust Corp Has $87.50 Million Stake in Hasbro, Inc. $HAS

Key Points

• Northern Trust Corp increased its stake in Hasbro by 7.4%, acquiring an additional 98,425 shares, bringing its total ownership to over 1.4 million shares valued at approximately $87.5 million.
• Hasbro's stock saw an increase of 3.1% and currently holds a market cap of $11.48 billion, with a twelve-month price range from $49.00 to $82.05.
• The company announced a quarterly dividend of $0.70 per share, representing an annualized yield of 3.4%, with the ex-dividend date set for August 20th.

Northern Trust Corp boosted its position in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,422,977 shares of the company's stock after buying an additional 98,425 shares during the quarter. Northern Trust Corp owned approximately 1.02% of Hasbro worth $87,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HAS. Brighton Jones LLC acquired a new position in Hasbro in the 4th quarter valued at $317,000. Mariner LLC boosted its holdings in Hasbro by 4.8% in the 4th quarter. Mariner LLC now owns 18,703 shares of the company's stock valued at $1,046,000 after purchasing an additional 851 shares during the period. Jump Financial LLC boosted its holdings in Hasbro by 50.0% in the 4th quarter. Jump Financial LLC now owns 4,801 shares of the company's stock valued at $268,000 after purchasing an additional 1,600 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Hasbro by 8.8% in the 4th 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 during the period. Finally, MetLife Investment Management LLC boosted its holdings in Hasbro by 1.1% in the 4th quarter. MetLife Investment Management LLC now owns 40,198 shares of the company's stock valued at $2,247,000 after purchasing an additional 456 shares during the period. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hasbro

In other news, CEO Christian P. Cocks sold 27,800 shares of Hasbro stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the completion of the sale, the chief executive officer owned 249,861 shares in the company, valued at $19,719,030.12. The trade was a 10.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy J. Kilpin sold 8,557 shares of Hasbro stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total transaction of $696,882.08. Following the sale, the insider owned 44,301 shares of the company's stock, valued at approximately $3,607,873.44. This represents a 16.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,359 shares of company stock worth $2,970,828. 0.85% of the stock is currently owned by corporate insiders.

Hasbro Price Performance

HAS traded down $0.43 during midday trading on Friday, hitting $81.17. The company had a trading volume of 991,055 shares, compared to its average volume of 1,722,827. The company has a debt-to-equity ratio of 12.31, a quick ratio of 1.32 and a current ratio of 1.66. The company has a market capitalization of $11.38 billion, a PE ratio of -19.99, a P/E/G ratio of 1.05 and a beta of 0.60. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $82.19. The firm's 50-day simple moving average is $77.24 and its 200-day simple moving average is $67.35.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings data 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 firm 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 company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 EPS. Equities research analysts predict that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 20th. Hasbro's dividend payout ratio (DPR) is presently -68.97%.

Wall Street Analyst Weigh In

HAS has been the subject of a number of research reports. Bank of America increased their price target on shares of Hasbro from $85.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley increased their target price on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Citigroup increased their target price on shares of Hasbro from $79.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, UBS Group increased their target price on shares of Hasbro from $82.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $86.42.

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.