Legal & General Group Plc Acquires Shares of 226,034 Hasbro, Inc. $HAS

Legal & General Group Plc bought a new stake in shares of Hasbro, Inc. (NASDAQ:HAS) in the 2nd quarter, Holdings Channel reports. The fund bought 226,034 shares of the company’s stock, valued at approximately $18,668,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CYBER HORNET ETFs LLC purchased a new position in Hasbro in the second quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Hasbro during the 4th quarter worth approximately $27,000. MUFG Securities EMEA plc purchased a new stake in Hasbro during the 2nd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Hasbro by 1,190.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 357 shares in the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new position in shares of Hasbro in the 1st quarter valued at approximately $37,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HAS has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Hasbro from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Jefferies Financial Group cut their price target on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Bank of America reduced their price objective on shares of Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. JPMorgan Chase & Co. decreased their price objective on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, Zacks Research lowered shares of Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.43.

Insider Buying and Selling at Hasbro

In related news, insider John Hight sold 3,186 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the completion of the sale, the insider owned 67,557 shares of the company’s stock, valued at $6,330,766.47. This represents a 4.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth Hamren sold 1,975 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $92.84, for a total transaction of $183,359.00. Following the sale, the director directly owned 9,896 shares of the company’s stock, valued at approximately $918,744.64. This represents a 16.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 45,415 shares of company stock valued at $4,260,164 over the last three months. 0.71% of the stock is currently owned by company insiders.

Hasbro Price Performance

Shares of NASDAQ HAS opened at $94.23 on Monday. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.47. The business has a 50 day simple moving average of $88.20 and a 200-day simple moving average of $91.22.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company posted $1.30 EPS. The business’s revenue was up 16.2% compared to the same quarter last year. As a group, equities research analysts expect that Hasbro, Inc. will post 6.18 earnings per share for the current year.

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s dividend payout ratio is 50.36%.

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.