Hasbro, Inc. $HAS Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in Hasbro, Inc. (NASDAQ:HAS) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 744,270 shares of the company’s stock after purchasing an additional 147,227 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of Hasbro worth $56,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE grew its position in Hasbro by 128.7% during the second quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after buying an additional 1,677,962 shares during the period. Norges Bank purchased a new position in Hasbro in the second quarter valued at about $123,710,000. AQR Capital Management LLC lifted its position in shares of Hasbro by 95.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,259,812 shares of the company’s stock valued at $164,831,000 after acquiring an additional 1,105,004 shares during the period. Mane Global Capital Management LP acquired a new stake in shares of Hasbro during the 2nd quarter valued at approximately $77,471,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Hasbro during the 3rd quarter worth approximately $30,608,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Hasbro Trading Down 0.3%

Shares of Hasbro stock opened at $91.36 on Friday. Hasbro, Inc. has a 1 year low of $49.00 and a 1 year high of $106.98. The company has a debt-to-equity ratio of 4.89, a current ratio of 1.38 and a quick ratio of 1.24. The business has a 50 day moving average price of $94.43 and a 200 day moving average price of $84.12. The company has a market capitalization of $12.85 billion, a P/E ratio of -38.88 and a beta of 0.54.

Hasbro (NASDAQ:HAS) last announced its earnings results on Tuesday, February 10th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.52. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Hasbro had a positive return on equity of 127.21% and a negative net margin of 6.86%.Hasbro’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Sell-side analysts anticipate that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, February 18th. Hasbro’s dividend payout ratio is currently -119.15%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on Hasbro from $103.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. The Goldman Sachs Group boosted their target price on Hasbro from $88.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. upped their target price on Hasbro from $94.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Wolfe Research raised their price target on Hasbro from $90.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, Roth Mkm set a $120.00 price target on Hasbro in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.07.

More Hasbro News

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Opened a flagship 600,000?sq?ft U.S. distribution center in Midway, Georgia — the company says the facility (leased/developed and branded by Hasbro) will boost omni?channel distribution, support Hasbro Pulse DTC and retail fulfillment, and improve speed/efficiency across North America; GXO’s GXO IQ automation will be used. Hasbro Celebrates Grand Opening of Midway, Georgia Distribution Center
• Positive Sentiment: Hasbro continues to monetize IP via Hollywood: Amazon MGM/Chernin are developing a feature film adaptation of the board game “The Game of Life” (Sean Anders directing, Allan Loeb writing). Film and streaming deals expand Hasbro’s entertainment pipeline and create cross?sell, licensing and marketing upside for core brands. ‘The Game Of Life’ Movie In The Works From Amazon MGM, Chernin And Hasbro With Sean Anders Directing And Allan Loeb Writing
• Neutral Sentiment: Product/brand marketing: Hasbro released a G.I. Joe: Classified Series Duke action figure tied to America’s 250th birthday — useful for category engagement but unlikely to move shares materially. G.I. Joe: Classified Series celebrates America’s 250th Birthday with Duke action figure
• Neutral Sentiment: Local footprint shift: the company is opening the Georgia warehouse as it prepares to leave Rhode Island — this may reduce logistics costs and centralize distribution, but could create transitional expenses and local/regulatory scrutiny. Hasbro opens 600,000-square-foot warehouse as it prepares to leave Rhode Island
• Negative Sentiment: Shares are underperforming peers and slipped in recent sessions — market reports note HAS lagged competitors and fell more steeply than the broader market, reflecting near?term investor caution despite recent earnings beats. High leverage (reported debt/equity) and short?term technical weakness (50?day SMA above the current price) may add pressure. Hasbro Inc. stock underperforms Wednesday when compared to competitors Hasbro (HAS) Falls More Steeply Than Broader Market

Insider Buying and Selling

In related news, CFO Gina M. Goetter sold 12,429 shares of Hasbro stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $103.46, for a total transaction of $1,285,904.34. Following the completion of the sale, the chief financial officer owned 68,221 shares in the company, valued at approximately $7,058,144.66. This trade represents a 15.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy J. Kilpin sold 7,773 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $103.00, for a total transaction of $800,619.00. Following the completion of the transaction, the insider directly owned 36,528 shares of the company’s stock, valued at $3,762,384. The trade was a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 413,342 shares of company stock worth $42,241,679 in the last ninety days. 0.85% of the stock is currently owned by insiders.

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.