Vestcor Inc Invests $608,000 in Hasbro, Inc. (NASDAQ:HAS)

Key Points

• Vestcor Inc invested approximately $608,000 in Hasbro, acquiring 9,895 shares during the 1st quarter of the year.
• Hasbro reported a 1.3% increase in earnings per share for the latest quarter, surpassing expectations with a revenue of $980.80 million.
• The company announced a quarterly dividend of $0.70 per share, reflecting an annualized dividend yield of 3.8%.

Vestcor Inc bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,895 shares of the company's stock, valued at approximately $608,000.

A number of other hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC purchased a new stake in shares of Hasbro during the 4th quarter valued at $25,000. Sentry Investment Management LLC purchased a new position in shares of Hasbro in the 1st quarter valued at $28,000. SBI Securities Co. Ltd. raised its stake in shares of Hasbro by 130.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock valued at $29,000 after acquiring an additional 269 shares during the period. Itau Unibanco Holding S.A. raised its stake in shares of Hasbro by 32.1% in 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. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Hasbro in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 91.83% of the company's stock.

Hasbro Stock Performance

Hasbro stock traded up $0.07 during midday trading on Thursday, reaching $77.12. 1,029,155 shares of the stock traded hands, compared to its average volume of 2,060,830. The firm has a fifty day moving average price of $72.70 and a two-hundred day moving average price of $64.66. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of -18.98, a PEG ratio of 1.01 and a beta of 0.60. Hasbro, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $78.83. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $0.78 by $0.52. The business had revenue of $980.80 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. On average, equities research analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Hasbro's dividend payout ratio is -68.97%.

Analyst Upgrades and Downgrades

HAS has been the topic of a number of research reports. Citigroup raised their target price on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of Hasbro from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Bank of America boosted their price objective on shares of Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Roth Capital boosted their price objective on shares of Hasbro from $86.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Hasbro presently has a consensus rating of "Moderate Buy" and an average price target of $86.27.

Hasbro Company 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.