Canada Pension Plan Investment Board Trims Stock Holdings in Hasbro, Inc. (NASDAQ:HAS)

Canada Pension Plan Investment Board decreased its stake in Hasbro, Inc. (NASDAQ:HAS) by 71.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,400 shares of the company’s stock after selling 16,372 shares during the period. Canada Pension Plan Investment Board’s holdings in Hasbro were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS Group AG grew its position in shares of Hasbro by 43.1% during the fourth quarter. UBS Group AG now owns 329,666 shares of the company’s stock worth $16,833,000 after purchasing an additional 99,263 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Hasbro by 77.2% during the first quarter. Commonwealth Equity Services LLC now owns 48,657 shares of the company’s stock worth $2,750,000 after purchasing an additional 21,204 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Hasbro by 351.7% during the first quarter. Intech Investment Management LLC now owns 24,411 shares of the company’s stock worth $1,380,000 after purchasing an additional 19,007 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hasbro by 95.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,100 shares of the company’s stock worth $2,020,000 after purchasing an additional 19,113 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Hasbro by 7.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 151,770 shares of the company’s stock worth $8,149,000 after purchasing an additional 10,961 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HAS shares. Bank of America raised their price target on Hasbro from $85.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 16th. DA Davidson reiterated a “neutral” rating and issued a $59.00 target price on shares of Hasbro in a report on Friday, July 26th. Stifel Nicolaus lifted their target price on Hasbro from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley lifted their target price on Hasbro from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Hasbro currently has an average rating of “Moderate Buy” and an average target price of $70.55.

Hasbro Price Performance

Shares of HAS stock opened at $72.10 on Friday. Hasbro, Inc. has a twelve month low of $42.66 and a twelve month high of $72.79. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of -7.11, a P/E/G ratio of 0.53 and a beta of 0.61. The stock has a fifty day simple moving average of $66.37 and a two-hundred day simple moving average of $61.21. The company has a current ratio of 1.46, a quick ratio of 1.27 and a debt-to-equity ratio of 2.95.

Hasbro (NASDAQ:HAS) last issued its earnings results on Thursday, July 25th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.44. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. The business had revenue of $995.30 million during the quarter, compared to analysts’ expectations of $941.38 million. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was down 17.7% compared to the same quarter last year. On average, analysts predict that Hasbro, Inc. will post 3.93 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Wednesday, August 21st. Hasbro’s dividend payout ratio is -27.61%.

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.