Norges Bank Purchases Shares of 1,801,806 Hasbro, Inc. $HAS

Norges Bank purchased a new stake in Hasbro, Inc. (NASDAQ:HAS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,801,806 shares of the company’s stock, valued at approximately $147,748,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Eurizon Capital SGR S.p.A. acquired a new stake in Hasbro in the 4th quarter valued at about $863,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Hasbro by 25.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 11,053 shares of the company’s stock valued at $906,000 after acquiring an additional 2,226 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Hasbro by 22.3% in the 4th quarter. Intech Investment Management LLC now owns 37,950 shares of the company’s stock valued at $3,112,000 after acquiring an additional 6,923 shares during the last quarter. Baker Avenue Asset Management LP acquired a new stake in Hasbro in the 4th quarter valued at about $271,000. Finally, IFG Advisory LLC lifted its holdings in Hasbro by 3.5% in the 4th quarter. IFG Advisory LLC now owns 49,201 shares of the company’s stock valued at $4,035,000 after acquiring an additional 1,658 shares during the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HAS shares. Bank of America upped their price target on shares of Hasbro from $113.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. boosted their price objective on Hasbro from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Jefferies Financial Group boosted their price objective on Hasbro from $95.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Morgan Stanley boosted their price objective on Hasbro from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company cut their price objective on Hasbro from $98.00 to $92.00 and set an “equal weight” rating on the stock in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hasbro currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.64.

Hasbro Price Performance

Shares of HAS opened at $84.13 on Thursday. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of -50.68, a P/E/G ratio of 2.07 and a beta of 0.48. Hasbro, Inc. has a fifty-two week low of $64.91 and a fifty-two week high of $106.98. The company has a debt-to-equity ratio of 4.59, a current ratio of 1.65 and a quick ratio of 1.49. The business’s 50-day moving average is $92.07 and its 200-day moving average is $89.98.

Hasbro (NASDAQ:HAS) last issued its earnings results on Wednesday, May 20th. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.27. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. Equities research analysts expect that Hasbro, Inc. will post 5.96 EPS for the current fiscal year.

Hasbro Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Monday, June 1st will be issued a $0.70 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.3%. Hasbro’s dividend payout ratio is currently -168.67%.

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.