Principal Financial Group Inc. Increases Stake in Hasbro Inc. (HAS)
Principal Financial Group Inc. boosted its stake in Hasbro Inc. (NASDAQ:HAS) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 445,389 shares of the company’s stock after buying an additional 10,768 shares during the period. Principal Financial Group Inc. owned approximately 0.36% of Hasbro worth $37,408,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services Inc raised its stake in Hasbro by 19.8% in the first quarter. Commonwealth Equity Services Inc now owns 21,299 shares of the company’s stock worth $1,706,000 after buying an additional 3,517 shares in the last quarter. Glenmede Trust Co. NA increased its position in Hasbro by 5.2% in the first quarter. Glenmede Trust Co. NA now owns 51,584 shares of the company’s stock worth $4,131,000 after buying an additional 2,560 shares during the last quarter. OLD National Bancorp IN increased its position in Hasbro by 5.1% in the first quarter. OLD National Bancorp IN now owns 6,085 shares of the company’s stock worth $487,000 after buying an additional 296 shares during the last quarter. Raymond James Trust N.A. increased its position in Hasbro by 0.3% in the first quarter. Raymond James Trust N.A. now owns 6,290 shares of the company’s stock worth $504,000 after buying an additional 16 shares during the last quarter. Finally, Ronna Sue Cohen increased its position in Hasbro by 0.7% in the first quarter. Ronna Sue Cohen now owns 46,428 shares of the company’s stock worth $3,719,000 after buying an additional 331 shares during the last quarter. 76.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hasbro Inc. (NASDAQ:HAS) traded up 0.47% on Tuesday, hitting $77.69. The company’s stock had a trading volume of 91,545 shares. Hasbro Inc. has a 1-year low of $64.91 and a 1-year high of $88.53. The firm has a market cap of $9.74 billion, a PE ratio of 20.36 and a beta of 1.11. The company has a 50 day moving average of $80.89 and a 200 day moving average of $82.55.
Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Monday, July 18th. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Hasbro had a return on equity of 29.71% and a net margin of 10.42%. The business had revenue of $878.90 million for the quarter, compared to analysts’ expectations of $858.97 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Hasbro Inc. will post $4.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, October 28th. Hasbro’s dividend payout ratio (DPR) is 53.40%.
A number of research analysts have recently commented on HAS shares. Piper Jaffray Cos. downgraded Hasbro from an “overweight” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a report on Thursday, May 26th. They noted that the move was a valuation call. Citigroup Inc. increased their price objective on Hasbro from $85.00 to $98.00 and gave the company a “buy” rating in a report on Monday, June 6th. Vetr upgraded Hasbro from a “hold” rating to a “buy” rating and set a $89.80 price objective on the stock in a report on Monday, June 13th. Zacks Investment Research downgraded Hasbro from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, MKM Partners reiterated a “hold” rating and issued a $84.00 price objective on shares of Hasbro in a report on Tuesday, July 12th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $86.41.
Hasbro, Inc (Hasbro) is a branded-play company. The Company’s operating segments include the U.S. and Canada segment, the International segment, the Entertainment and Licensing segment, and Global Operations segment. The U.S. and Canada segment is engaged in the marketing and sale of its products in the United States.
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