Bank of New York Mellon Corp trimmed its position in Hasbro, Inc. (NASDAQ:HAS – Get Rating) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,955,662 shares of the company’s stock after selling 77,715 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hasbro were worth $199,269,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC grew its holdings in Hasbro by 60.9% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 309 shares of the company’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. Worth Asset Management LLC acquired a new stake in shares of Hasbro during the 1st quarter worth $27,000. IFP Advisors Inc grew its holdings in shares of Hasbro by 134.2% during the 3rd quarter. IFP Advisors Inc now owns 651 shares of the company’s stock worth $28,000 after purchasing an additional 373 shares in the last quarter. Power Corp of Canada acquired a new stake in shares of Hasbro during the 1st quarter worth $29,000. Finally, Grayhawk Investment Strategies Inc. acquired a new stake in shares of Hasbro during the 2nd quarter worth $37,000. 80.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on HAS shares. MKM Partners reduced their target price on Hasbro from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, January 13th. Monness Crespi & Hardt reduced their target price on Hasbro from $106.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, January 27th. BMO Capital Markets reduced their price objective on Hasbro from $74.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 4th. Truist Financial reduced their price objective on Hasbro from $70.00 to $62.00 in a research note on Friday, February 17th. Finally, StockNews.com initiated coverage on Hasbro in a research note on Thursday. They issued a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Hasbro has an average rating of “Hold” and an average target price of $76.36.
Hasbro Price Performance
Hasbro (NASDAQ:HAS – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.02. Hasbro had a return on equity of 20.68% and a net margin of 3.47%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $1.21 earnings per share. The firm’s revenue was down 16.6% compared to the same quarter last year. Analysts expect that Hasbro, Inc. will post 4.41 EPS for the current year.
Hasbro Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Monday, May 1st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, April 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.83%. Hasbro’s dividend payout ratio (DPR) is 191.78%.
Hasbro, Inc engages in the provision of children and family leisure time products and services with a portfolio of brands and entertainment properties. The firm’s brands of toys include Power Rangers, Magic: The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh and Transformers. It operates through the following segments: Consumer Products, Wizards of the Coast and Digital Gaming, Entertainment, and Corporate and Other.
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