Bank of New York Mellon Corp Has $64.40 Million Stock Position in Hasbro, Inc. (NASDAQ:HAS)

Bank of New York Mellon Corp decreased its holdings in Hasbro, Inc. (NASDAQ:HAS) by 3.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,100,889 shares of the company’s stock after selling 43,981 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Hasbro worth $64,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in Hasbro by 56.2% in the 1st quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock valued at $26,000 after acquiring an additional 167 shares during the period. Optiver Holding B.V. acquired a new position in shares of Hasbro in the fourth quarter valued at approximately $36,000. Neo Ivy Capital Management bought a new position in shares of Hasbro during the fourth quarter worth approximately $45,000. Federated Hermes Inc. acquired a new stake in Hasbro during the 4th quarter worth approximately $53,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Hasbro by 1,352.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,060 shares of the company’s stock worth $65,000 after purchasing an additional 987 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HAS. JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $61.00 to $74.00 in a research report on Thursday, May 23rd. Bank of America raised shares of Hasbro from a “neutral” rating to a “buy” rating and raised their price target for the stock from $70.00 to $80.00 in a research report on Friday, June 14th. UBS Group boosted their price objective on shares of Hasbro from $68.00 to $69.00 and gave the company a “buy” rating in a report on Friday, May 24th. DA Davidson reiterated a “neutral” rating and issued a $59.00 price target on shares of Hasbro in a research report on Friday, July 26th. Finally, Stifel Nicolaus increased their price target on Hasbro from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.64.

Hasbro Price Performance

Hasbro stock opened at $68.16 on Friday. The stock has a market capitalization of $9.49 billion, a P/E ratio of -6.72, a price-to-earnings-growth ratio of 0.51 and a beta of 0.62. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.27 and a current ratio of 1.46. Hasbro, Inc. has a 52 week low of $42.66 and a 52 week high of $73.57. The stock has a fifty day moving average of $62.27 and a 200-day moving average of $58.73.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.44. The company had revenue of $995.30 million for the quarter, compared to the consensus estimate of $941.38 million. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. Hasbro’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, sell-side analysts expect that Hasbro, Inc. will post 3.89 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $2.80 annualized dividend and a dividend yield of 4.11%. Hasbro’s dividend payout ratio is -27.61%.

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.