Hasbro, Inc. (NASDAQ:HAS) Shares Bought by CIBC Asset Management Inc
CIBC Asset Management Inc increased its position in Hasbro, Inc. (NASDAQ:HAS) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 17,699 shares of the company’s stock after buying an additional 489 shares during the period. CIBC Asset Management Inc’s holdings in Hasbro were worth $1,974,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Hasbro by 5.4% in the first quarter. Vanguard Group Inc. now owns 12,186,806 shares of the company’s stock worth $1,216,486,000 after buying an additional 622,946 shares during the last quarter. BlackRock Inc. boosted its position in shares of Hasbro by 1,141.5% in the first quarter. BlackRock Inc. now owns 9,179,728 shares of the company’s stock worth $916,321,000 after buying an additional 8,440,294 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Hasbro by 2.4% in the first quarter. Bank of America Corp DE now owns 5,474,161 shares of the company’s stock worth $546,431,000 after buying an additional 127,849 shares during the last quarter. State Street Corp boosted its position in shares of Hasbro by 1.0% in the first quarter. State Street Corp now owns 5,013,445 shares of the company’s stock worth $500,457,000 after buying an additional 49,888 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Hasbro by 7.1% in the first quarter. Wells Fargo & Company MN now owns 2,741,570 shares of the company’s stock worth $273,664,000 after buying an additional 182,384 shares during the last quarter. 78.23% of the stock is currently owned by institutional investors.
Hasbro, Inc. (NASDAQ:HAS) opened at 101.43 on Wednesday. Hasbro, Inc. has a 52 week low of $76.14 and a 52 week high of $116.20. The firm has a market cap of $12.71 billion, a P/E ratio of 21.97 and a beta of 0.90. The company has a 50-day moving average of $110.10 and a 200 day moving average of $100.89.
Hasbro (NASDAQ:HAS) last announced its earnings results on Monday, July 24th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.07. Hasbro had a return on equity of 32.24% and a net margin of 11.44%. The business had revenue of $972.51 million during the quarter, compared to analysts’ expectations of $974.19 million. During the same quarter last year, the business posted $0.41 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that Hasbro, Inc. will post $5.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.28 annualized dividend and a yield of 2.25%. Hasbro’s dividend payout ratio is currently 49.35%.
A number of equities analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 target price on shares of Hasbro in a report on Thursday, August 3rd. DA Davidson reaffirmed a “buy” rating and issued a $121.00 target price (up from $118.00) on shares of Hasbro in a report on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 target price on shares of Hasbro in a report on Friday, July 21st. Zacks Investment Research raised shares of Hasbro from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Friday, July 14th. Finally, BidaskClub raised shares of Hasbro from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $106.69.
In related news, CEO Brian Goldner sold 205,656 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $105.69, for a total transaction of $21,735,782.64. Following the completion of the transaction, the chief executive officer now owns 354,891 shares of the company’s stock, valued at $37,508,429.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Wiebe Tinga sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $104.01, for a total value of $2,600,250.00. Following the transaction, the executive vice president now directly owns 85,630 shares of the company’s stock, valued at approximately $8,906,376.30. The disclosure for this sale can be found here. Insiders have sold 814,917 shares of company stock valued at $86,222,617 in the last ninety days. Company insiders own 11.00% of the company’s stock.
Hasbro Company Profile
Hasbro, Inc (Hasbro) is a play and entertainment company. The Company’s operating segments include the U.S. and Canada, International, and Entertainment and Licensing. From toys and games to content development, including television programming, motion pictures, digital gaming and a consumer products licensing program, Hasbro fulfills the fundamental need for play and connection for children and families around the world.
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