Citigroup Inc. Raises Position in Hasbro, Inc. (NASDAQ:HAS)

Citigroup Inc. increased its stake in Hasbro, Inc. (NASDAQ:HAS) by 18.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,443 shares of the company’s stock after buying an additional 22,354 shares during the quarter. Citigroup Inc.’s holdings in Hasbro were worth $10,446,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Hasbro by 2.1% in 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. California State Teachers Retirement System grew its holdings in Hasbro by 1.4% during the 1st quarter. California State Teachers Retirement System now owns 227,068 shares of the company’s stock valued at $12,834,000 after purchasing an additional 3,055 shares in the last quarter. Tidal Investments LLC grew its holdings in Hasbro by 14.5% during the 1st quarter. Tidal Investments LLC now owns 42,402 shares of the company’s stock valued at $2,396,000 after purchasing an additional 5,368 shares in the last quarter. Comerica Bank increased its stake in Hasbro by 11.1% during the 1st quarter. Comerica Bank now owns 57,090 shares of the company’s stock worth $3,227,000 after buying an additional 5,697 shares during the period. Finally, Atria Investments Inc acquired a new position in Hasbro in the 1st quarter worth $1,287,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HAS has been the topic of a number of analyst reports. Stifel Nicolaus lifted their target price on Hasbro from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley increased their target price on Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. DA Davidson lifted their price target on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Finally, Bank of America increased their price objective on shares of Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $63.89 on Friday. The company has a market cap of $8.91 billion, a PE ratio of -13.77, a P/E/G ratio of 0.60 and a beta of 0.63. Hasbro, Inc. has a fifty-two week low of $44.85 and a fifty-two week high of $73.46. The firm has a 50-day simple moving average of $67.89 and a 200 day simple moving average of $64.39. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64.

Hasbro (NASDAQ:HAS) last posted its earnings results on Thursday, October 24th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.28 by $0.45. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. The business’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. On average, sell-side analysts anticipate that Hasbro, Inc. will post 3.93 EPS for the current year.

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Hasbro’s dividend payout ratio is presently -60.34%.

About Hasbro

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.