Victory Financial Group LLC bought a new stake in Hasbro, Inc. (NASDAQ:HAS – Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,953 shares of the company’s stock, valued at approximately $1,048,000.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Hasbro during the second quarter worth approximately $2,204,689,000. Bank of America Corp DE acquired a new stake in shares of Hasbro in the second quarter valued at approximately $289,258,000. Bank of New York Mellon Corp acquired a new stake in shares of Hasbro in the second quarter valued at approximately $130,731,000. Deutsche Bank AG purchased a new position in shares of Hasbro during the second quarter worth approximately $89,467,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Hasbro during the second quarter worth approximately $66,071,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Insider Buying and Selling
In related news, Director Elizabeth Hamren sold 1,975 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $92.84, for a total transaction of $183,359.00. Following the completion of the sale, the director directly owned 9,896 shares of the company’s stock, valued at $918,744.64. This trade represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Gina Goetter sold 8,265 shares of Hasbro stock in a transaction on Friday, July 31st. The shares were sold at an average price of $93.96, for a total transaction of $776,579.40. Following the completion of the transaction, the chief financial officer owned 79,839 shares in the company, valued at approximately $7,501,672.44. This trade represents a 9.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,286 shares of company stock valued at $1,525,733 over the last three months. 0.71% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on shares of Hasbro from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. Zacks Research raised shares of Hasbro from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 22nd. Weiss Ratings raised shares of Hasbro from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 15th. Finally, Argus lifted their price objective on shares of Hasbro from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Hasbro presently has an average rating of “Moderate Buy” and a consensus target price of $114.93.
Read Our Latest Report on Hasbro
Hasbro Stock Up 0.3%
Hasbro stock opened at $118.68 on Thursday. Hasbro, Inc. has a twelve month low of $74.78 and a twelve month high of $121.04. The stock has a 50 day moving average of $95.34 and a two-hundred day moving average of $92.03. The company has a current ratio of 1.40, a quick ratio of 1.24 and a debt-to-equity ratio of 2.79. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.52 and a beta of 0.45.
Hasbro (NASDAQ:HAS – Get Free Report) last announced its earnings results on Tuesday, October 20th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $1.86 by $1.04. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hasbro had a return on equity of 140.60% and a net margin of 18.44%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $1.68 EPS. As a group, research analysts expect that Hasbro, Inc. will post 6.69 earnings per share for the current year.
Hasbro Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.4%. Hasbro’s dividend payout ratio (DPR) is currently 41.85%.
Key Hasbro News
Here are the key news stories impacting Hasbro this week:
- Positive Sentiment: UBS raises price target to $137: UBS maintained its Buy rating and increased its Hasbro price target from $120 to $137, citing improving fundamentals and multiple earnings-growth drivers through 2028. The more optimistic outlook may be supporting investor demand for HAS. Hasbro Earns Buy Rating as Fundamentals Improve and Price Target Rises Hasbro Has Multiple Drivers for Earnings Growth Through 2028, UBS Says
- Positive Sentiment: New digital-games leadership: Hasbro appointed Dan Ayoub, a 25-year video-game veteran and former Halo leader, as president of Wizards of the Coast and Hasbro Digital Games effective November 2. His experience could help strengthen digital execution, gaming monetization and key franchises such as Dungeons & Dragons and Magic: The Gathering. Hasbro Names Dan Ayoub President of Wizards of the Coast and Hasbro Digital Games
- Positive Sentiment: Expanding digital and collector initiatives: Hasbro is promoting an AI-generated Mr. Potato Head voiced by the late Don Rickles, launching a Play-Doh preschool YouTube series, and introducing a limited-edition adult Monopoly product. These efforts could increase engagement, licensing opportunities and direct-to-consumer appeal, though their financial contribution is not yet established. Hasbro’s AI Play Involves an AI-Generated Mr. Potato Head Hasbro Announces Play-Doh with Margo
- Neutral Sentiment: Leadership turnover bears watching: Ayoub is reportedly the third Wizards of the Coast president in fewer than five years. His appointment could improve execution, but repeated changes may raise concerns about strategic consistency. Hasbro Names Third Wizards of the Coast President in Under Five Years
- Negative Sentiment: Pawtucket relocation controversy: Hasbro CEO Chris Cocks faced criticism from Pawtucket officials and residents over comments about the city, including references to food delivery and the local talent pool as factors in the move. The dispute is primarily reputational but could weigh on employee, community and political relations. Pawtucket Mayor Criticizes Hasbro CEO
About Hasbro
Hasbro, Inc is a global branded entertainment company that develops and markets toys, games, entertainment experiences and consumer products. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Transformers, Nerf, My Little Pony, Dungeons & Dragons and Magic: The Gathering.
The company serves consumers through a range of channels, including retail, e-commerce, digital gaming, entertainment content and licensing. Hasbro also works with third-party partners to extend its brands into film and television, apparel, publishing and other consumer products.
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