Sumitomo Mitsui Trust Group Inc. Sells 9,964 Shares of Hasbro, Inc. (NASDAQ:HAS)

Sumitomo Mitsui Trust Group Inc. lowered its position in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 65.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,370 shares of the company's stock after selling 9,964 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Hasbro were worth $330,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parvin Asset Management LLC acquired a new position in shares of Hasbro in the 4th quarter worth approximately $25,000. Sentry Investment Management LLC acquired a new position in shares of Hasbro during the 1st quarter valued at $28,000. 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. Resona Asset Management Co. Ltd. acquired a new position in shares of Hasbro during the 4th quarter valued at $44,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Hasbro during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 91.83% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on HAS. The Goldman Sachs Group upgraded shares of Hasbro from a "neutral" rating to a "buy" rating and boosted their target price for the company from $66.00 to $85.00 in a research report on Monday, June 30th. Citigroup reiterated a "buy" rating and issued a $79.00 target price (up previously from $72.00) on shares of Hasbro in a research note on Monday, June 16th. Morgan Stanley upped their target price on shares of Hasbro from $71.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. DA Davidson restated a "neutral" rating and set a $75.00 price target on shares of Hasbro in a research report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $81.67.

Hasbro Price Performance

NASDAQ HAS traded down $0.67 on Friday, reaching $77.55. 1,692,972 shares of the company's stock traded hands, compared to its average volume of 1,717,670. Hasbro, Inc. has a 12 month low of $49.00 and a 12 month high of $78.83. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.65 and a quick ratio of 1.40. The stock has a 50-day simple moving average of $67.39 and a 200 day simple moving average of $61.68. The stock has a market cap of $10.87 billion, a PE ratio of 25.59, a P/E/G ratio of 2.14 and a beta of 0.59.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.37. Hasbro had a net margin of 9.99% and a return on equity of 51.39%. The business had revenue of $887.10 million for the quarter, compared to analysts' expectations of $770.60 million. During the same period last year, the business earned $0.61 earnings per share. The business's quarterly revenue was up 17.1% on a year-over-year basis. As a group, research analysts predict that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Wednesday, May 21st. Hasbro's dividend payout ratio is 92.41%.

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.