Panagora Asset Management Inc. Acquires 94,052 Shares of Hasbro, Inc. $HAS

Panagora Asset Management Inc. increased its holdings in Hasbro, Inc. by 605.5% in Q2, owning 109,584 shares worth $8,089,000. Other institutional investors also adjusted their stakes. Hasbro's stock opened at $81.65, with a market cap of $11.46 billion. The company reported Q3 earnings of $1.68 per share, beating estimates. A quarterly dividend of $0.70 will be paid on December 3rd. Analysts have mixed ratings on Hasbro, with Citigroup raising its target price to $97.

Panagora Asset Management Inc. increased its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 605.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,584 shares of the company's stock after buying an additional 94,052 shares during the period. Panagora Asset Management Inc. owned 0.08% of Hasbro worth $8,089,000 at the end of the most recent quarter.

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A number of other institutional investors have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its stake in shares of Hasbro by 0.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 34,020 shares of the company's stock valued at $2,490,000 after purchasing an additional 167 shares during the period. RNC Capital Management LLC lifted its stake in Hasbro by 1.3% in the second quarter. RNC Capital Management LLC now owns 13,295 shares of the company's stock valued at $981,000 after buying an additional 170 shares during the period. State of Michigan Retirement System lifted its stake in Hasbro by 0.6% in the second quarter. State of Michigan Retirement System now owns 35,812 shares of the company's stock valued at $2,644,000 after buying an additional 200 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in Hasbro by 18.3% during the second quarter. Pinnacle Bancorp Inc. now owns 1,307 shares of the company's stock worth $96,000 after buying an additional 202 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in shares of Hasbro by 13.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,845 shares of the company's stock worth $142,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 91.83% of the company's stock.

Insider Transactions at Hasbro

In other Hasbro news, Director Hope F. Cochran sold 4,000 shares of the business's stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $77.24, for a total transaction of $308,960.00. Following the transaction, the director owned 17,102 shares of the company's stock, valued at $1,320,958.48. The trade was a 18.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.85% of the company's stock.

Hasbro Price Performance

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Shares of HAS opened at $81.65 on Wednesday. The company has a 50 day moving average of $76.87 and a 200-day moving average of $75.37. The company has a quick ratio of 1.42, a current ratio of 1.70 and a debt-to-equity ratio of 7.65. The stock has a market capitalization of $11.46 billion, a P/E ratio of -20.36, a P/E/G ratio of 0.98 and a beta of 0.61. Hasbro, Inc. has a twelve month low of $49.00 and a twelve month high of $83.45.

Hasbro (NASDAQ:HAS - Get Free Report) last released its earnings results on Thursday, October 23rd. The company reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.05. Hasbro had a negative net margin of 12.81% and a positive return on equity of 82.17%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.4%. Hasbro's payout ratio is currently -69.83%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HAS. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hasbro in a research report on Wednesday, October 8th. Citigroup increased their target price on shares of Hasbro from $91.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, October 24th. The Goldman Sachs Group boosted their price target on shares of Hasbro from $89.00 to $90.00 and gave the company a "buy" rating in a report on Friday, October 24th. Wall Street Zen raised Hasbro from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 8th. Finally, UBS Group raised their target price on shares of Hasbro from $88.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Hasbro currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.33.

Check Out Our Latest Stock Analysis on HAS

Hasbro Company Profile

(Free Report)

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.

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