Maryland State Retirement & Pension System Grows Position in Hasbro, Inc. (NASDAQ:HAS)

Posted by on Jul 9th, 2023

Maryland State Retirement & Pension System raised its position in shares of Hasbro, Inc. (NASDAQ:HAS – Free Report) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,390 shares of the company’s stock after buying an additional 628 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Hasbro were worth $558,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HAS. Vanguard Group Inc. boosted its holdings in shares of Hasbro by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 15,142,015 shares of the company’s stock worth $1,020,875,000 after purchasing an additional 508,345 shares during the period. State Street Corp boosted its holdings in shares of Hasbro by 0.5% in the 1st quarter. State Street Corp now owns 5,337,035 shares of the company’s stock worth $437,210,000 after purchasing an additional 23,978 shares during the period. Morgan Stanley boosted its holdings in shares of Hasbro by 232.3% in the 4th quarter. Morgan Stanley now owns 3,634,864 shares of the company’s stock worth $221,763,000 after purchasing an additional 2,541,129 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hasbro by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,085,257 shares of the company’s stock worth $188,232,000 after purchasing an additional 286,248 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Hasbro by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 2,735,713 shares of the company’s stock worth $166,603,000 after purchasing an additional 56,527 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.

Hasbro Trading Up 0.4 %

Shares of NASDAQ:HAS opened at $64.56 on Friday. Hasbro, Inc. has a 12-month low of $45.75 and a 12-month high of $85.08. The business’s fifty day simple moving average is $61.22 and its 200-day simple moving average is $58.16. The company has a market capitalization of $8.95 billion, a PE ratio of 75.07, a P/E/G ratio of 5.81 and a beta of 0.76. The company has a current ratio of 1.34, a quick ratio of 0.96 and a debt-to-equity ratio of 1.33.

Hasbro (NASDAQ:HAS – Free Report) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Hasbro had a net margin of 2.11% and a return on equity of 18.56%. The company had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $883.06 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s revenue was down 14.0% compared to the same quarter last year. As a group, equities research analysts predict that Hasbro, Inc. will post 4.46 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, July 31st. This represents a $2.80 annualized dividend and a yield of 4.34%. Hasbro’s dividend payout ratio (DPR) is 325.59%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HAS shares. Bank of America lifted their target price on Hasbro from $63.00 to $68.00 in a report on Wednesday, May 17th. 1-800-FLOWERS.COM reissued a “maintains” rating on shares of Hasbro in a research note on Friday, April 28th. DA Davidson reissued a “buy” rating and set a $80.00 price target on shares of Hasbro in a research note on Monday, April 3rd. Argus decreased their price target on Hasbro from $80.00 to $70.00 in a research note on Friday, June 16th. Finally, Stifel Nicolaus raised their price target on Hasbro from $70.00 to $75.00 in a research note on Tuesday, May 30th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Hasbro has an average rating of “Moderate Buy” and a consensus price target of $75.45.

About Hasbro

(Free Report)

Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company in the United States and internationally. The company operates through Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment segments. The Consumer Products segment engages in the sourcing, marketing, and sale of toy and game products.

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Institutional Ownership by Quarter for Hasbro (NASDAQ:HAS)

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