Hasbro, Inc. (NASDAQ:HAS) Shares Bought by Canada Pension Plan Investment Board

Posted by Defense World Staff on Mar 1st, 2023

Canada Pension Plan Investment Board raised its position in Hasbro, Inc. (NASDAQ:HAS – Get Rating) by 256.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,400 shares of the company’s stock after purchasing an additional 11,800 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Hasbro were worth $1,106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Hasbro by 37.1% in the 1st quarter. American Century Companies Inc. now owns 10,385 shares of the company’s stock valued at $851,000 after buying an additional 2,810 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Hasbro by 14.2% in the first quarter. Private Advisor Group LLC now owns 6,850 shares of the company’s stock valued at $562,000 after purchasing an additional 850 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Hasbro by 23.0% in the first quarter. MetLife Investment Management LLC now owns 35,245 shares of the company’s stock valued at $2,887,000 after purchasing an additional 6,597 shares during the period. Panagora Asset Management Inc. increased its holdings in Hasbro by 61.8% during the 1st quarter. Panagora Asset Management Inc. now owns 18,140 shares of the company’s stock valued at $1,486,000 after acquiring an additional 6,927 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Hasbro by 2.5% during the 1st quarter. Rhumbline Advisers now owns 210,792 shares of the company’s stock valued at $17,268,000 after acquiring an additional 5,054 shares in the last quarter. 80.87% of the stock is currently owned by institutional investors and hedge funds.

Hasbro Trading Down 0.5 %

NASDAQ:HAS opened at $55.01 on Wednesday. The stock’s 50 day moving average price is $60.67 and its 200 day moving average price is $65.81. Hasbro, Inc. has a 52 week low of $54.65 and a 52 week high of $97.55. The company has a market capitalization of $7.60 billion, a P/E ratio of 37.68, a P/E/G ratio of 3.84 and a beta of 0.74. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.37.

Hasbro (NASDAQ:HAS – Get Rating) last announced its earnings results on Thursday, February 16th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.02. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Hasbro had a return on equity of 20.68% and a net margin of 3.47%. The company’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, research analysts forecast that Hasbro, Inc. will post 4.41 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be given a $0.70 dividend. The ex-dividend date is Friday, April 28th. This represents a $2.80 annualized dividend and a dividend yield of 5.09%. Hasbro’s dividend payout ratio is 191.78%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HAS. Bank of America downgraded shares of Hasbro from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $73.00 to $42.00 in a report on Monday, November 14th. StockNews.com cut shares of Hasbro from a “hold” rating to a “sell” rating in a research report on Friday, February 17th. DA Davidson dropped their price target on shares of Hasbro from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 17th. MKM Partners dropped their price target on shares of Hasbro from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, January 13th. Finally, The Goldman Sachs Group lowered shares of Hasbro from a “buy” rating to a “neutral” rating and set a $64.00 target price for the company. in a research note on Wednesday, February 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.36.

Hasbro Profile

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Hasbro, Inc engages in the provision of children and family leisure time products and services with a portfolio of brands and entertainment properties. The firm’s brands of toys include Power Rangers, Magic: The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh and Transformers. It operates through the following segments: Consumer Products, Wizards of the Coast and Digital Gaming, Entertainment, and Corporate and Other.