Sumitomo Mitsui Trust Group Inc. Increases Stake in Hasbro, Inc. (NASDAQ:HAS)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 198.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,932 shares of the company’s stock after purchasing an additional 7,930 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Hasbro were worth $863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Hasbro by 43.0% during the first quarter. Russell Investments Group Ltd. now owns 27,546 shares of the company’s stock worth $1,557,000 after purchasing an additional 8,280 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Hasbro in the 1st quarter worth approximately $1,064,000. Keeley Teton Advisors LLC increased its stake in shares of Hasbro by 2.5% during the first quarter. Keeley Teton Advisors LLC now owns 40,578 shares of the company’s stock valued at $2,293,000 after buying an additional 996 shares during the period. BOKF NA raised its holdings in shares of Hasbro by 25.5% during the first quarter. BOKF NA now owns 10,753 shares of the company’s stock valued at $605,000 after acquiring an additional 2,182 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Hasbro by 2.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 181,123 shares of the company’s stock valued at $10,238,000 after acquiring an additional 3,656 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HAS. Morgan Stanley lifted their price target on shares of Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus lifted their target price on shares of Hasbro from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Bank of America increased their price target on shares of Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on Hasbro from $76.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group increased their target price on Hasbro from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Hasbro has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Hasbro Price Performance

HAS stock opened at $61.76 on Wednesday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.29 and a current ratio of 1.47. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of -13.30, a PEG ratio of 0.57 and a beta of 0.63. The firm has a 50 day moving average price of $68.89 and a 200-day moving average price of $64.32. Hasbro, Inc. has a 52-week low of $43.74 and a 52-week high of $73.46.

Hasbro (NASDAQ:HAS) last released its earnings results on Thursday, October 24th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.28 by $0.45. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. Equities research analysts forecast that Hasbro, Inc. will post 3.94 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.80 dividend on an annualized basis and a yield of 4.53%. Hasbro’s dividend payout ratio is currently -60.34%.

Hasbro Profile

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.