Principal Financial Group Inc. Increases Position in Hasbro, Inc. (HAS)
Principal Financial Group Inc. raised its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 311.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,177,740 shares of the company’s stock after buying an additional 1,648,675 shares during the period. Principal Financial Group Inc. owned about 1.74% of Hasbro worth $242,840,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its stake in Hasbro by 11.1% in the first quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $100,000 after buying an additional 100 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in Hasbro by 337.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,132 shares of the company’s stock valued at $113,000 after buying an additional 873 shares during the last quarter. TrimTabs Asset Management LLC acquired a new stake in Hasbro during the first quarter valued at about $119,000. Meeder Asset Management Inc. acquired a new stake in Hasbro during the first quarter valued at about $131,000. Finally, Oakworth Capital Inc. raised its stake in Hasbro by 7.2% in the second quarter. Oakworth Capital Inc. now owns 1,207 shares of the company’s stock valued at $135,000 after buying an additional 81 shares during the last quarter. 79.66% of the stock is owned by institutional investors and hedge funds.
Shares of Hasbro, Inc. (NASDAQ HAS) opened at 95.28 on Thursday. Hasbro, Inc. has a 12 month low of $76.14 and a 12 month high of $116.20. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 20.64 and a beta of 0.90. The stock’s 50 day moving average is $104.46 and its 200 day moving average is $102.30.
Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Monday, July 24th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.07. Hasbro had a return on equity of 32.24% and a net margin of 11.44%. The firm had revenue of $972.51 million for the quarter, compared to analysts’ expectations of $974.19 million. During the same period in the prior year, the business posted $0.41 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Hasbro, Inc. will post $5.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Tuesday, October 31st. Hasbro’s dividend payout ratio is presently 49.35%.
Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of Hasbro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 8th. Zacks Investment Research downgraded shares of Hasbro from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Stifel Nicolaus reiterated a “hold” rating and issued a $107.00 target price (up previously from $100.00) on shares of Hasbro in a report on Thursday, July 13th. DA Davidson reiterated a “buy” rating and issued a $121.00 target price (up previously from $118.00) on shares of Hasbro in a report on Saturday, July 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $125.00 target price on shares of Hasbro in a report on Friday, July 21st. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Hasbro presently has a consensus rating of “Hold” and an average price target of $105.84.
In related news, Director Alan G. Hassenfeld sold 280,906 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $105.68, for a total value of $29,686,146.08. Following the transaction, the director now directly owns 29,140 shares in the company, valued at $3,079,515.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan G. Hassenfeld sold 276 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $99.52, for a total transaction of $27,467.52. Following the completion of the transaction, the director now owns 29,140 shares in the company, valued at $2,900,012.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,036,972 shares of company stock worth $108,155,402. Company insiders own 11.00% of the company’s stock.
Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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