Bank of New York Mellon Corp Buys 426,130 Shares of Hasbro, Inc. (NASDAQ:HAS)

Bank of New York Mellon Corp lifted its stake in Hasbro, Inc. (NASDAQ:HAS) by 40.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,485,744 shares of the company’s stock after buying an additional 426,130 shares during the period. Bank of New York Mellon Corp owned about 1.07% of Hasbro worth $83,068,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its position in Hasbro by 120.1% in the fourth quarter. Allworth Financial LP now owns 482 shares of the company’s stock worth $28,000 after purchasing an additional 263 shares in the last quarter. Blue Trust Inc. raised its position in Hasbro by 224.8% in the third quarter. Blue Trust Inc. now owns 432 shares of the company’s stock worth $31,000 after purchasing an additional 299 shares in the last quarter. True Wealth Design LLC acquired a new position in Hasbro in the third quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new position in Hasbro in the third quarter worth about $40,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Hasbro in the third quarter worth about $45,000. Institutional investors own 91.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on HAS shares. Stifel Nicolaus dropped their price target on shares of Hasbro from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Roth Mkm raised their price objective on shares of Hasbro from $68.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 21st. DA Davidson raised their price objective on shares of Hasbro from $73.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $84.00 price target (down previously from $88.00) on shares of Hasbro in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.22.

Hasbro Price Performance

Shares of HAS stock opened at $65.11 on Monday. Hasbro, Inc. has a 52-week low of $49.21 and a 52-week high of $73.46. The stock has a market cap of $9.08 billion, a PE ratio of 23.68, a PEG ratio of 0.60 and a beta of 0.64. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.29 and a current ratio of 1.60. The firm’s 50 day moving average price is $59.26 and its two-hundred day moving average price is $64.31.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. Hasbro had a net margin of 9.32% and a return on equity of 47.93%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.02 billion. As a group, analysts forecast that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, March 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 4.30%. Hasbro’s payout ratio is presently 101.82%.

Hasbro Company Profile

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.