Sumitomo Mitsui Trust Group Inc. Raises Holdings in Hasbro, Inc. (NASDAQ:HAS)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Hasbro, Inc. (NASDAQ:HAS) by 198.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,932 shares of the company’s stock after purchasing an additional 7,930 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Hasbro were worth $863,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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

Hasbro Stock Up 0.1 %

HAS opened at $61.76 on Wednesday. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of -13.30, a price-to-earnings-growth ratio of 0.57 and a beta of 0.63. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.29 and a current ratio of 1.47. The firm’s fifty day moving average is $68.89 and its 200 day moving average is $64.32. Hasbro, Inc. has a fifty-two week low of $43.74 and a fifty-two week high of $73.46.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.73 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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 earnings per share. On average, sell-side analysts forecast that Hasbro, Inc. will post 3.94 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.80 annualized dividend and a yield of 4.53%. Hasbro’s payout ratio is -60.34%.

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.