Norges Bank Makes New $147.75 Million Investment in Hasbro, Inc. $HAS

Norges Bank acquired a new position in Hasbro, Inc. (NASDAQ:HAS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,801,806 shares of the company’s stock, valued at approximately $147,748,000. Norges Bank owned 1.28% of Hasbro at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Hasbro by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company’s stock worth $1,392,088,000 after purchasing an additional 453,038 shares during the period. State Street Corp boosted its holdings in Hasbro by 2.1% in the second quarter. State Street Corp now owns 6,508,052 shares of the company’s stock worth $480,424,000 after purchasing an additional 131,678 shares during the period. Geode Capital Management LLC boosted its holdings in Hasbro by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company’s stock worth $299,700,000 after purchasing an additional 122,592 shares during the period. Bank of America Corp DE boosted its holdings in Hasbro by 21.9% in the third quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock worth $275,579,000 after purchasing an additional 651,790 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Hasbro by 30.9% in the third quarter. AQR Capital Management LLC now owns 2,957,648 shares of the company’s stock worth $224,338,000 after purchasing an additional 697,836 shares during the period. Institutional investors and hedge funds own 91.83% of the company’s stock.

Hasbro Stock Performance

HAS stock opened at $84.13 on Thursday. The company has a market capitalization of $11.90 billion, a P/E ratio of -50.68, a PEG ratio of 2.07 and a beta of 0.48. The company has a 50-day simple moving average of $92.07 and a 200 day simple moving average of $89.98. Hasbro, Inc. has a fifty-two week low of $64.91 and a fifty-two week high of $106.98. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 4.59.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.27. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 earnings per share. Sell-side analysts predict that Hasbro, Inc. will post 5.96 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Monday, June 1st will be given a $0.70 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.80 annualized dividend and a yield of 3.3%. Hasbro’s payout ratio is -168.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HAS shares. BNP Paribas Exane lifted their price objective on shares of Hasbro from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. DA Davidson reissued a “neutral” rating and set a $100.00 price target on shares of Hasbro in a report on Thursday, May 21st. Citigroup reduced their price target on shares of Hasbro from $118.00 to $114.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Roth Mkm set a $120.00 price target on shares of Hasbro in a report on Wednesday, February 11th. Finally, Wells Fargo & Company reduced their price target on shares of Hasbro from $98.00 to $92.00 and set an “equal weight” rating for the company in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hasbro presently has an average rating of “Moderate Buy” and an average price target of $113.64.

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.