Jennison Associates LLC bought a new stake in Hasbro, Inc. (NASDAQ:HAS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 40,779 shares of the company's stock, valued at approximately $2,949,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Plato Investment Management Ltd purchased a new position in Hasbro in the second quarter valued at about $27,000. Asset Dedication LLC grew its stake in shares of Hasbro by 290.1% in the second quarter. Asset Dedication LLC now owns 472 shares of the company's stock valued at $28,000 after buying an additional 351 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Hasbro by 224.8% during the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company's stock valued at $31,000 after buying an additional 299 shares during the period. International Assets Investment Management LLC acquired a new position in Hasbro during the 2nd quarter worth approximately $46,000. Finally, Summit Securities Group LLC purchased a new position in Hasbro in the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 91.83% of the company's stock.
A number of research firms have recently issued reports on HAS. JPMorgan Chase & Co. lifted their price objective on shares of Hasbro from $76.00 to $82.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Bank of America boosted their price objective on shares of Hasbro from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Morgan Stanley raised their target price on Hasbro from $80.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their price target on Hasbro from $75.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Finally, DA Davidson increased their price target on Hasbro from $59.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hasbro currently has a consensus rating of "Moderate Buy" and an average target price of $80.67.
Read Our Latest Report on Hasbro
Shares of NASDAQ HAS opened at $62.52 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64. The stock's 50 day moving average price is $68.43 and its two-hundred day moving average price is $64.30. Hasbro, Inc. has a 52-week low of $44.85 and a 52-week high of $73.46. The stock has a market capitalization of $8.72 billion, a P/E ratio of -13.47, a PEG ratio of 0.57 and a beta of 0.63.
Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.45. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.30 billion. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. The business's revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 EPS. On average, analysts anticipate that Hasbro, Inc. will post 3.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a $0.70 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.48%. Hasbro's payout ratio is currently -60.34%.
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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