Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Purchases 7,326 Shares of Hasbro, Inc. (NASDAQ:HAS)

Posted by Defense World Staff on Aug 12th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Hasbro, Inc. (NASDAQ:HAS – Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,965 shares of the company’s stock after acquiring an additional 7,326 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.08% of Hasbro worth $6,065,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Worth Asset Management LLC bought a new position in Hasbro in the first quarter valued at about $27,000. Carolinas Wealth Consulting LLC increased its position in Hasbro by 60.9% in the first quarter. Carolinas Wealth Consulting LLC now owns 309 shares of the company’s stock worth $25,000 after buying an additional 117 shares in the last quarter. Power Corp of Canada purchased a new stake in Hasbro in the first quarter worth about $29,000. Ronald Blue Trust Inc. increased its position in Hasbro by 87.7% in the first quarter. Ronald Blue Trust Inc. now owns 520 shares of the company’s stock worth $32,000 after buying an additional 243 shares in the last quarter. Finally, Covestor Ltd increased its position in Hasbro by 76.2% in the first quarter. Covestor Ltd now owns 1,020 shares of the company’s stock worth $84,000 after buying an additional 441 shares in the last quarter. Institutional investors own 80.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HAS. Argus upped their price target on Hasbro from $70.00 to $75.00 in a research report on Friday, August 4th. DA Davidson restated a “buy” rating and issued a $80.00 price target on shares of Hasbro in a research report on Monday, August 7th. Bank of America upgraded Hasbro from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $85.00 in a research report on Monday, July 31st. StockNews.com upgraded Hasbro from a “sell” rating to a “hold” rating in a research report on Monday, June 19th. Finally, Stifel Nicolaus increased their target price on Hasbro from $75.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.82.

Check Out Our Latest Stock Report on Hasbro

Hasbro Stock Performance

NASDAQ HAS opened at $65.77 on Friday. The stock has a market capitalization of $9.12 billion, a PE ratio of -35.55, a P/E/G ratio of 3.09 and a beta of 0.75. The business has a 50 day simple moving average of $63.17 and a two-hundred day simple moving average of $58.55. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.29 and a quick ratio of 0.91. Hasbro, Inc. has a 1-year low of $45.75 and a 1-year high of $84.19.

Hasbro (NASDAQ:HAS – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.09). The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Hasbro had a negative net margin of 4.61% and a positive return on equity of 16.12%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. On average, research analysts predict that Hasbro, Inc. will post 4.12 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.26%. The ex-dividend date is Tuesday, October 31st. Hasbro’s dividend payout ratio is presently -151.35%.

Hasbro Profile

(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.