Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Hasbro, Inc. $HAS

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Hasbro, Inc. (NASDAQ:HAS) during the second quarter, HoldingsChannel reports. The institutional investor purchased 172,580 shares of the company’s stock, valued at approximately $14,253,000.

Several other institutional investors also recently bought and sold shares of HAS. Brighton Jones LLC acquired a new stake in shares of Hasbro in the fourth quarter worth $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hasbro by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company’s stock valued at $1,018,000 after acquiring an additional 1,753 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Hasbro by 95.8% during the 1st quarter. Empowered Funds LLC now owns 13,187 shares of the company’s stock valued at $811,000 after acquiring an additional 6,451 shares in the last quarter. Woodline Partners LP boosted its position in Hasbro by 40.7% during the 1st quarter. Woodline Partners LP now owns 11,078 shares of the company’s stock worth $681,000 after purchasing an additional 3,203 shares during the period. Finally, Focus Partners Wealth purchased a new stake in Hasbro during the 1st quarter worth $292,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hasbro news, Director Elizabeth Hamren sold 1,975 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $92.84, for a total value of $183,359.00. Following the transaction, the director directly owned 9,896 shares of the company’s stock, valued at $918,744.64. This represents a 16.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Timothy J. Kilpin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total value of $1,862,400.00. Following the transaction, the insider owned 54,229 shares of the company’s stock, valued at approximately $5,049,804.48. This trade represents a 26.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 45,415 shares of company stock worth $4,260,164 in the last quarter. Company insiders own 0.71% of the company’s stock.

Hasbro Stock Performance

Shares of HAS stock opened at $93.56 on Friday. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.66 and a quick ratio of 1.46. The company’s fifty day moving average price is $86.93 and its two-hundred day moving average price is $91.23. The firm has a market capitalization of $13.20 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.71 and a beta of 0.47. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98.

Hasbro (NASDAQ:HAS) last announced its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $1.30 earnings per share. The company’s revenue was up 16.2% on a year-over-year basis. On average, research analysts anticipate that Hasbro, Inc. will post 6.15 earnings per share for the current fiscal year.

Hasbro Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on HAS. Citigroup reissued a “buy” rating on shares of Hasbro in a research report on Thursday, July 23rd. Roth Capital reaffirmed a “buy” rating on shares of Hasbro in a research report on Wednesday, July 22nd. UBS Group reiterated a “buy” rating and issued a $120.00 target price on shares of Hasbro in a research note on Monday, July 27th. Bank of America dropped their target price on Hasbro from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Finally, DA Davidson reduced their price target on Hasbro from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.43.

Trending Headlines about Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro’s Magic: The Gathering business is showing strong momentum, with Marvel-related releases supporting record growth. The upcoming Hobbit-themed products could provide another catalyst for Wizards of the Coast and help extend growth. Hasbro Magic Business Is Booming: Can Marvel and Hobbit Extend Growth?
• Positive Sentiment: Analysts remain broadly optimistic about Hasbro’s growth prospects, and the company’s shares have outpaced the broader market this year. This supports the favorable investor sentiment surrounding the stock. Hasbro Stock: Analyst Estimates & Ratings
• Positive Sentiment: Hasbro’s latest results exceeded expectations, with quarterly earnings and revenue beating consensus estimates and revenue increasing 16.2% year over year. The earnings beat remains a key reason the stock has increased since the report. Why Is Hasbro Up Since Last Earnings Report?
• Positive Sentiment: Hasbro is expanding its X-Men ’97 Marvel Legends collection with a new Beast figure. The release adds support to Hasbro’s licensed-product pipeline, though its direct financial impact is likely limited. Beast Joins Hasbro’s X-Men ’97 Marvel Legends Series Collection

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.