Sumitomo Mitsui Trust Group Inc. lifted its stake in Hasbro, Inc. (NASDAQ:HAS – Free Report) by 143.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,596 shares of the company’s stock after buying an additional 10,358 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Hasbro were worth $1,647,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of HAS. Norges Bank bought a new stake in Hasbro in the fourth quarter valued at $147,748,000. Bank of America Corp DE lifted its holdings in shares of Hasbro by 128.7% during the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock valued at $220,089,000 after acquiring an additional 1,677,962 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Hasbro by 47.3% during the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock valued at $357,286,000 after acquiring an additional 1,399,499 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Hasbro by 454.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 727,407 shares of the company’s stock valued at $68,085,000 after purchasing an additional 596,167 shares in the last quarter. Finally, Amundi boosted its stake in shares of Hasbro by 55.5% in the 4th quarter. Amundi now owns 1,403,288 shares of the company’s stock valued at $115,070,000 after purchasing an additional 501,117 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.
Hasbro Stock Up 2.7%
NASDAQ:HAS opened at $80.51 on Thursday. The stock’s fifty day moving average price is $85.63 and its two-hundred day moving average price is $90.26. Hasbro, Inc. has a 52-week low of $69.50 and a 52-week high of $106.98. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65. The company has a market cap of $11.39 billion, a price-to-earnings ratio of -48.50, a P/E/G ratio of 1.91 and a beta of 0.49.
Hasbro Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Monday, June 1st were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, June 1st. Hasbro’s dividend payout ratio (DPR) is presently -168.67%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on HAS shares. Wall Street Zen cut shares of Hasbro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Wells Fargo & Company reduced their price target on shares of Hasbro from $92.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 9th. Bank of America upped their price objective on shares of Hasbro from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. UBS Group reiterated a “buy” rating and issued a $110.00 target price on shares of Hasbro in a research note on Thursday, June 18th. Finally, Roth Capital reduced their target price on Hasbro from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.57.
Get Our Latest Analysis on Hasbro
Hasbro News Roundup
Here are the key news stories impacting Hasbro this week:
- Positive Sentiment: BNP Paribas Exane lowered its price target on Hasbro to $114 from $117, but reiterated an outperform rating, signaling the firm still sees meaningful upside from current levels. BNP Paribas Exane price target update
- Positive Sentiment: Roth Capital also cut its target, to $100 from $120, while keeping a buy rating, which indicates analysts continue to view Hasbro as attractive even after trimming expectations. Roth Capital price target update
- Neutral Sentiment: Hasbro’s NFL-themed Transformers crossover is drawing attention, with a review highlighting the product line as a consumer-interest story that could support merchandising demand, but it is not yet a clear stock-moving catalyst. 49ers Goldrush Transformers Review
- Neutral Sentiment: Hasbro was projected to announce earnings soon, keeping investors focused on whether upcoming results can validate recent analyst optimism or disappointment. Hasbro projected to announce earnings
- Negative Sentiment: Zacks Research downgraded Hasbro from strong-buy to hold, adding to concerns that the stock may have limited near-term momentum despite broader analyst support. Zacks downgrade
About Hasbro
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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