Fifth Third Bancorp trimmed its holdings in shares of Hasbro, Inc. (NASDAQ:HAS – Get Rating) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,990 shares of the company’s stock after selling 1,013 shares during the quarter. Fifth Third Bancorp’s holdings in Hasbro were worth $1,550,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC grew its position in Hasbro by 60.9% during the first quarter. Carolinas Wealth Consulting LLC now owns 309 shares of the company’s stock worth $25,000 after buying an additional 117 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Hasbro in the 2nd quarter worth about $26,000. Worth Asset Management LLC purchased a new position in shares of Hasbro in the 1st quarter worth about $27,000. Power Corp of Canada purchased a new position in shares of Hasbro in the 1st quarter worth about $29,000. Finally, Triumph Capital Management purchased a new position in shares of Hasbro in the 2nd quarter worth about $33,000. 80.87% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on HAS. Truist Financial cut their price objective on Hasbro from $88.00 to $75.00 and set a “hold” rating for the company in a report on Wednesday, October 5th. Jefferies Financial Group cut their price objective on Hasbro from $100.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 5th. Bank of America cut Hasbro from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $73.00 to $42.00 in a report on Monday, November 14th. Stifel Nicolaus cut their price objective on Hasbro from $84.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, January 3rd. Finally, DA Davidson upped their price objective on Hasbro from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, October 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $90.91.
Hasbro Trading Up 2.5 %
Hasbro (NASDAQ:HAS – Get Rating) last released its quarterly earnings results on Tuesday, October 18th. The company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.11). The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Hasbro had a net margin of 6.70% and a return on equity of 19.90%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. Analysts predict that Hasbro, Inc. will post 4.65 EPS for the current year.
Hasbro Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 1st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Tuesday, January 31st. Hasbro’s payout ratio is 93.96%.
Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. Its Consumer Products segment engages in the sourcing, marketing, and sale of toy and game products. This segment also promotes its brands through the out-licensing of trademarks, characters, and other brand and intellectual property rights to third parties through the sale of branded consumer products, such as toys and apparels.
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