Nuveen LLC Buys New Shares in Hasbro, Inc. $HAS

Key Points

• Nuveen LLC has acquired 493,528 shares of Hasbro, Inc., representing a new stake valued at approximately $30.35 million, raising its ownership to 0.35% of the company.
• Wall Street analysts are optimistic about Hasbro's future, with multiple brokerages raising their price targets, the highest being $94.00 from JPMorgan Chase & Co., and most rating the stock as a "buy."
• Hasbro has announced a quarterly dividend of $0.70, equating to an annualized yield of 3.5%, with a payment date set for September 3rd.

Nuveen LLC purchased a new position in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 493,528 shares of the company's stock, valued at approximately $30,347,000. Nuveen LLC owned about 0.35% of Hasbro at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in shares of Hasbro in the fourth quarter worth about $317,000. Raymond James Financial Inc. acquired a new position in shares of Hasbro in the 4th quarter worth approximately $23,623,000. Mariner LLC lifted its holdings in shares of Hasbro by 4.8% in the 4th quarter. Mariner LLC now owns 18,703 shares of the company's stock worth $1,046,000 after acquiring an additional 851 shares during the last quarter. XTX Topco Ltd acquired a new stake in Hasbro during the 4th quarter worth approximately $652,000. Finally, Guggenheim Capital LLC lifted its holdings in Hasbro by 5.8% during the 4th quarter. Guggenheim Capital LLC now owns 16,492 shares of the company's stock worth $922,000 after buying an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company's stock.

Insider Buying and Selling at Hasbro

In other news, insider Roberta K. Thomson sold 1,002 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $79.81, for a total value of $79,969.62. Following the completion of the transaction, the insider owned 51,301 shares of the company's stock, valued at $4,094,332.81. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HAS has been the topic of a number of research reports. Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. DA Davidson raised their price objective on shares of Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Morgan Stanley raised their price objective 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. Roth Capital lifted their target price on shares of Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Citigroup lifted their target price on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.42.

Hasbro Price Performance

HAS traded down $0.40 during midday trading on Thursday, reaching $79.29. 403,704 shares of the company's stock were exchanged, compared to its average volume of 2,045,981. The company has a debt-to-equity ratio of 12.31, a current ratio of 1.66 and a quick ratio of 1.32. The stock has a market capitalization of $11.12 billion, a PE ratio of -19.53, a P/E/G ratio of 1.03 and a beta of 0.60. The business's 50-day moving average price is $75.45 and its 200 day moving average price is $66.21. Hasbro, Inc. has a 1-year low of $49.00 and a 1-year high of $81.97.

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, topping analysts' consensus estimates of $0.78 by $0.52. The company 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 firm's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. As a group, equities analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 20th. Hasbro's payout ratio is currently -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.