The Manufacturers Life Insurance Company Takes $8.49 Million Position in Hasbro, Inc. $HAS

Key Points

• The Manufacturers Life Insurance Company acquired 102,818 Hasbro shares worth approximately $8.49 million, while institutional investors collectively own 91.83% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $109.43.
• Hasbro exceeded quarterly expectations with $1.28 in EPS and $1.14 billion in revenue, up 16.2% year over year, and announced a quarterly dividend of $0.70 per share, yielding about 3.0%.

The Manufacturers Life Insurance Company purchased a new stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 102,818 shares of the company's stock, valued at approximately $8,492,000. The Manufacturers Life Insurance Company owned about 0.07% of Hasbro at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC acquired a new stake in shares of Hasbro during the second quarter worth about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Hasbro in the 4th quarter valued at about $27,000. MUFG Securities EMEA plc acquired a new position in Hasbro in the 2nd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Hasbro by 1,190.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company's stock valued at $32,000 after acquiring an additional 357 shares during the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of Hasbro during the first quarter worth $37,000. Institutional investors and hedge funds own 91.83% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HAS. Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a research note on Wednesday, July 22nd. DA Davidson reduced their price objective on shares of Hasbro from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Wednesday, July 22nd. Bank of America decreased their price objective on shares of Hasbro from $115.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, July 16th. Jefferies Financial Group lowered their target price on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Finally, BNP Paribas Exane dropped their target price on shares of Hasbro from $117.00 to $114.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $109.43.

Hasbro Trading Up 0.1%

Shares of Hasbro stock opened at $94.23 on Friday. Hasbro, Inc. has a 1 year low of $69.50 and a 1 year high of $106.98. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46. The business has a 50 day moving average price of $88.20 and a 200 day moving average price of $91.26. The company has a market capitalization of $13.29 billion, a P/E ratio of 16.95, a P/E/G ratio of 1.72 and a beta of 0.47.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.Hasbro's quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. Sell-side analysts anticipate that Hasbro, Inc. will post 6.18 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, August 19th. Hasbro's dividend payout ratio is 50.36%.

Insider Activity

In other Hasbro news, CFO Gina M. Goetter sold 11,000 shares of the firm's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $95.44, for a total transaction of $1,049,840.00. Following the sale, the chief financial officer directly owned 88,104 shares of the company's stock, valued at $8,408,645.76. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth Hamren sold 1,975 shares of Hasbro stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $92.84, for a total transaction of $183,359.00. Following the sale, the director owned 9,896 shares of the company's stock, valued at approximately $918,744.64. This trade represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,415 shares of company stock valued at $4,260,164 in the last 90 days. Company insiders own 0.71% of the company's stock.

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company's brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.

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