Truist Financial Corp Boosts Stock Position in Hasbro, Inc. $HAS

Key Points

• Truist Financial Corp increased its stake in Hasbro, Inc. by 35% during the second quarter, acquiring a total of 42,126 shares valued at approximately $3.11 million.
• Hasbro recently reported earnings per share of $1.30 for the last quarter, exceeding analysts' estimates of $0.78, while total revenue was $980.80 million, down 1.5% year-over-year.
• Equities analysts have generally favored Hasbro, with ten rating it as a "Buy" and a consensus price target of $87.64 following several upward revisions from major firms.

Truist Financial Corp increased its stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) by 35.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,126 shares of the company's stock after buying an additional 10,931 shares during the period. Truist Financial Corp's holdings in Hasbro were worth $3,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Hasbro by 3.9% during the 1st quarter. Teacher Retirement System of Texas now owns 28,531 shares of the company's stock valued at $1,754,000 after purchasing an additional 1,072 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Hasbro by 20.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,094 shares of the company's stock valued at $1,036,000 after purchasing an additional 2,866 shares during the last quarter. Jump Financial LLC boosted its stake in Hasbro by 129.5% during the 1st quarter. Jump Financial LLC now owns 11,020 shares of the company's stock valued at $678,000 after purchasing an additional 6,219 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Hasbro by 60.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,597 shares of the company's stock valued at $1,021,000 after buying an additional 6,225 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Hasbro by 7.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,772 shares of the company's stock valued at $785,000 after buying an additional 931 shares during the period. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. DA Davidson increased their price target on Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. UBS Group increased their price target on Hasbro from $82.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Bank of America increased their price target on Hasbro from $95.00 to $100.00 and gave the company a "buy" rating in a report on Monday, September 29th. Roth Capital increased their price target on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Monness Crespi & Hardt increased their price target on Hasbro from $80.00 to $90.00 in a report on Wednesday, September 17th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.64.

Insider Activity

In other news, insider Roberta K. Thomson sold 1,002 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $79.81, for a total transaction of $79,969.62. Following the completion of the transaction, the insider owned 51,301 shares in the company, valued at $4,094,332.81. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Timothy J. Kilpin sold 8,557 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total value of $696,882.08. Following the transaction, the insider owned 44,301 shares of the company's stock, valued at approximately $3,607,873.44. The trade was a 16.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,359 shares of company stock worth $2,970,828 over the last 90 days. Corporate insiders own 0.85% of the company's stock.

Hasbro Trading Down 1.2%

Shares of HAS stock opened at $74.64 on Friday. Hasbro, Inc. has a 52-week low of $49.00 and a 52-week high of $82.19. 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 firm has a market capitalization of $10.47 billion, a PE ratio of -18.38, a PEG ratio of 0.98 and a beta of 0.60. The stock has a fifty day simple moving average of $77.79 and a two-hundred day simple moving average of $70.05.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly 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. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.The business had revenue of $980.80 million during the quarter, compared to analyst estimates of $891.82 million. During the same quarter in the prior year, the business posted $1.22 EPS. Hasbro's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, analysts predict 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 was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.8%. Hasbro's dividend payout ratio (DPR) is presently -68.97%.

Hasbro Profile

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.

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