Cornerstone Investment Partners LLC Increases Stake in Hasbro, Inc. (NASDAQ:HAS)

Cornerstone Investment Partners LLC boosted its holdings in Hasbro, Inc. (NASDAQ:HAS) by 23.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 606,128 shares of the company’s stock after purchasing an additional 116,897 shares during the period. Cornerstone Investment Partners LLC’s holdings in Hasbro were worth $30,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Worth Asset Management LLC purchased a new position in shares of Hasbro in the first quarter worth $27,000. Carolinas Wealth Consulting LLC boosted its holdings in shares of Hasbro by 60.9% during the first quarter. Carolinas Wealth Consulting LLC now owns 309 shares of the company’s stock worth $25,000 after purchasing an additional 117 shares during the period. Power Corp of Canada bought a new stake in shares of Hasbro in the first quarter worth about $29,000. Studio Investment Management LLC purchased a new position in Hasbro during the 3rd quarter valued at about $26,000. Finally, ING Groep NV bought a new position in Hasbro during the 3rd quarter valued at approximately $29,000. 91.83% of the stock is owned by institutional investors.

Hasbro Stock Up 0.5 %

Shares of HAS traded up $0.25 during mid-day trading on Friday, reaching $55.19. The company had a trading volume of 510,383 shares, compared to its average volume of 1,675,422. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.97 and a current ratio of 1.13. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of -5.13, a price-to-earnings-growth ratio of 1.45 and a beta of 0.74. The firm has a 50-day moving average price of $53.30 and a 200 day moving average price of $51.20. Hasbro, Inc. has a 52 week low of $42.66 and a 52 week high of $73.57.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.26). Hasbro had a negative net margin of 29.77% and a positive return on equity of 16.34%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s quarterly revenue was down 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that Hasbro, Inc. will post 3.25 EPS for the current year.

Hasbro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 5.07%. The ex-dividend date is Tuesday, April 30th. Hasbro’s dividend payout ratio (DPR) is -26.12%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HAS shares. Stifel Nicolaus lifted their price objective on Hasbro from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday. Roth Mkm raised their target price on shares of Hasbro from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. TheStreet cut shares of Hasbro from a “c-” rating to a “d+” rating in a research report on Tuesday, February 13th. Bank of America raised their price objective on shares of Hasbro from $51.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Hasbro from $52.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Hasbro has a consensus rating of “Hold” and an average target price of $62.80.

Hasbro 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.