M&T Bank Corp Raises Stock Position in Hasbro, Inc. (NASDAQ:HAS)

M&T Bank Corp grew its position in Hasbro, Inc. (NASDAQ:HAS) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,435 shares of the company’s stock after buying an additional 378 shares during the period. M&T Bank Corp’s holdings in Hasbro were worth $682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its position in Hasbro by 12.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 3,367 shares of the company’s stock valued at $244,000 after buying an additional 379 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Hasbro by 47.0% in the 3rd quarter. National Bank of Canada FI now owns 52,596 shares of the company’s stock worth $3,804,000 after acquiring an additional 16,809 shares during the last quarter. Castleark Management LLC lifted its holdings in shares of Hasbro by 30.4% in the 3rd quarter. Castleark Management LLC now owns 100,840 shares of the company’s stock worth $7,293,000 after acquiring an additional 23,480 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Hasbro during the 3rd quarter worth approximately $3,080,000. Finally, Weiss Asset Management LP acquired a new stake in Hasbro in the 3rd quarter valued at approximately $6,930,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Analyst Upgrades and Downgrades

HAS has been the subject of several research analyst reports. Bank of America raised their price target on Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Morgan Stanley increased their price target on shares of Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on shares of Hasbro from $76.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group increased their target price on shares of Hasbro from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus boosted their price target on shares of Hasbro from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Insider Activity

In other news, EVP Matthew Edward Austin sold 1,718 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $65.06, for a total value of $111,773.08. Following the completion of the sale, the executive vice president now directly owns 36,828 shares of the company’s stock, valued at approximately $2,396,029.68. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

Hasbro Stock Performance

Shares of HAS stock opened at $60.82 on Tuesday. Hasbro, Inc. has a 12 month low of $46.09 and a 12 month high of $73.46. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 2.64. The company has a market cap of $8.48 billion, a P/E ratio of -13.11, a PEG ratio of 0.60 and a beta of 0.62. The firm has a fifty day moving average price of $66.14 and a 200 day moving average price of $64.76.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.45. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.30 billion. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.64 EPS. Sell-side analysts predict that Hasbro, Inc. will post 3.93 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, November 20th. This represents a $2.80 annualized dividend and a dividend yield of 4.60%. Hasbro’s dividend payout ratio is presently -60.34%.

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.