102,818 Shares in Hasbro, Inc. $HAS Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Hasbro, Inc. (NASDAQ:HAS) in the second quarter, HoldingsChannel reports. The fund bought 102,818 shares of the company’s stock, valued at approximately $8,492,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Hasbro in the 4th quarter valued at $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Hasbro during the 2nd quarter valued at $25,000. MUFG Securities EMEA plc acquired a new stake in shares of Hasbro during the 2nd quarter worth $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 worth $32,000 after buying an additional 357 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new position in Hasbro in the first quarter valued at $37,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on HAS shares. Argus upped their price target on Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Zacks Research lowered Hasbro from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen cut Hasbro from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Morgan Stanley increased their target price on shares of Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, Bank of America cut their price target on shares of Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.43.

Hasbro Stock Performance

Hasbro stock opened at $94.23 on Friday. The firm has a market capitalization of $13.29 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.72 and a beta of 0.47. Hasbro, Inc. has a one year low of $69.50 and a one year high of $106.98. The stock’s 50 day moving average price is $88.20 and its 200 day moving average price is $91.26. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.46 and a current ratio of 1.66.

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

Hasbro Dividend Announcement

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

Insider Activity

In related news, insider John Hight sold 3,186 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $93.71, for a total value of $298,560.06. Following the transaction, the insider owned 67,557 shares in the company, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gina M. Goetter sold 11,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $95.44, for a total value of $1,049,840.00. Following the completion of the transaction, the chief financial officer directly owned 88,104 shares of the company’s stock, valued at $8,408,645.76. This represents a 11.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 45,415 shares of company stock valued at $4,260,164. Corporate insiders own 0.71% of the company’s stock.

Hasbro 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.