Hasbro, Inc. (NASDAQ:HAS) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,186 shares of the company’s stock after acquiring an additional 600 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Hasbro were worth $3,774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HAS. Plato Investment Management Ltd purchased a new position in Hasbro during the 2nd quarter valued at about $27,000. Asset Dedication LLC raised its position in shares of Hasbro by 290.1% during the 2nd quarter. Asset Dedication LLC now owns 472 shares of the company’s stock worth $28,000 after acquiring an additional 351 shares in the last quarter. Blue Trust Inc. raised its position in shares of Hasbro by 224.8% during the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company’s stock worth $31,000 after acquiring an additional 299 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Hasbro during the 2nd quarter worth about $46,000. Finally, Summit Securities Group LLC acquired a new position in Hasbro during the second quarter worth approximately $47,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Hasbro Price Performance

Shares of NASDAQ HAS opened at $65.63 on Friday. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of -6.47, a PEG ratio of 0.53 and a beta of 0.61. Hasbro, Inc. has a 1-year low of $42.66 and a 1-year high of $73.46. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.46 and a quick ratio of 1.27. The business has a 50-day moving average of $69.80 and a 200-day moving average of $63.86.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.45. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the firm earned $1.64 EPS. Hasbro’s quarterly revenue was down 14.8% on a year-over-year basis. On average, equities analysts anticipate that Hasbro, Inc. will post 3.94 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.80 dividend on an annualized basis and a yield of 4.27%. Hasbro’s dividend payout ratio (DPR) is presently -27.61%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Hasbro from $76.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Morgan Stanley boosted their target price on Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, October 25th. DA Davidson lifted their price target on Hasbro from $59.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Jefferies Financial Group boosted their target price on Hasbro from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Bank of America upped their price objective on Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.67.

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.