Sumitomo Mitsui Trust Group Inc. Buys 10,358 Shares of Hasbro, Inc. $HAS

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 143.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,596 shares of the company’s stock after purchasing an additional 10,358 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Hasbro were worth $1,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HAS. Brighton Jones LLC bought a new stake in shares of Hasbro during the 4th quarter worth $317,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Hasbro by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,563 shares of the company’s stock worth $1,018,000 after acquiring an additional 1,753 shares during the last quarter. Empowered Funds LLC lifted its position in Hasbro by 95.8% during the 1st quarter. Empowered Funds LLC now owns 13,187 shares of the company’s stock worth $811,000 after acquiring an additional 6,451 shares during the last quarter. Woodline Partners LP boosted its holdings in Hasbro by 40.7% during the first quarter. Woodline Partners LP now owns 11,078 shares of the company’s stock valued at $681,000 after acquiring an additional 3,203 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Hasbro in the first quarter valued at about $292,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: BNP Paribas Exane lowered its price target on Hasbro to $114 from $117, but reiterated an outperform rating, signaling the firm still sees meaningful upside from current levels. BNP Paribas Exane price target update
• Positive Sentiment: Roth Capital also cut its target, to $100 from $120, while keeping a buy rating, which indicates analysts continue to view Hasbro as attractive even after trimming expectations. Roth Capital price target update
• Neutral Sentiment: Hasbro’s NFL-themed Transformers crossover is drawing attention, with a review highlighting the product line as a consumer-interest story that could support merchandising demand, but it is not yet a clear stock-moving catalyst. 49ers Goldrush Transformers Review
• Neutral Sentiment: Hasbro was projected to announce earnings soon, keeping investors focused on whether upcoming results can validate recent analyst optimism or disappointment. Hasbro projected to announce earnings
• Negative Sentiment: Zacks Research downgraded Hasbro from strong-buy to hold, adding to concerns that the stock may have limited near-term momentum despite broader analyst support. Zacks downgrade

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HAS shares. DA Davidson reiterated a “neutral” rating and issued a $100.00 price objective on shares of Hasbro in a research note on Thursday, May 21st. Morgan Stanley raised their target price on Hasbro from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. BNP Paribas Exane dropped their price target on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup cut their price target on Hasbro from $114.00 to $101.00 and set a “buy” rating for the company in a report on Friday, July 10th. Finally, Bank of America increased their price objective on Hasbro from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.57.

Hasbro Stock Up 2.7%

HAS stock opened at $80.51 on Thursday. Hasbro, Inc. has a twelve month low of $69.50 and a twelve month high of $106.98. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 4.59. The company has a market cap of $11.39 billion, a PE ratio of -48.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. The business’s 50-day simple moving average is $85.63 and its 200 day simple moving average is $90.26.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.20 by $0.27. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $969.20 million. During the same quarter in the prior year, the firm posted $1.04 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts anticipate that Hasbro, Inc. will post 6.04 earnings per share for the current year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Monday, June 1st were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 1st. Hasbro’s dividend payout ratio (DPR) is -168.67%.

Hasbro 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.