State of New Jersey Common Pension Fund D Has $2.83 Million Stake in Hasbro, Inc. (NASDAQ:HAS)

State of New Jersey Common Pension Fund D reduced its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,446 shares of the company’s stock after selling 23,194 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Hasbro were worth $2,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lindbrook Capital LLC increased its holdings in shares of Hasbro by 56.2% during the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Asset Dedication LLC increased its holdings in Hasbro by 290.1% during the 2nd quarter. Asset Dedication LLC now owns 472 shares of the company’s stock valued at $28,000 after purchasing an additional 351 shares in the last quarter. Optiver Holding B.V. bought a new position in Hasbro in the 4th quarter valued at $36,000. Neo Ivy Capital Management bought a new position in Hasbro in the 4th quarter valued at $45,000. Finally, International Assets Investment Management LLC acquired a new position in Hasbro in the second quarter worth $46,000. 91.83% of the stock is owned by institutional investors.

Hasbro Trading Up 1.1 %

HAS opened at $71.16 on Thursday. The firm’s fifty day moving average is $65.00 and its two-hundred day moving average is $60.42. The firm has a market cap of $9.91 billion, a PE ratio of -7.02, a price-to-earnings-growth ratio of 0.52 and a beta of 0.61. Hasbro, Inc. has a twelve month low of $42.66 and a twelve month high of $72.20. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.27 and a current ratio of 1.46.

Hasbro (NASDAQ:HAS) last posted its earnings results on Thursday, July 25th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.44. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. The firm had revenue of $995.30 million for the quarter, compared to analyst estimates of $941.38 million. During the same period in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down 17.7% on a year-over-year basis. Equities research analysts anticipate that Hasbro, Inc. will post 3.93 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.80 annualized dividend and a dividend yield of 3.93%. Hasbro’s dividend payout ratio is presently -27.61%.

Wall Street Analyst Weigh In

A number of brokerages have commented on HAS. Stifel Nicolaus raised their price objective on shares of Hasbro from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised Hasbro from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $61.00 to $74.00 in a report on Thursday, May 23rd. DA Davidson reiterated a “neutral” rating and issued a $59.00 price objective on shares of Hasbro in a research report on Friday, July 26th. Morgan Stanley boosted their target price on Hasbro from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, UBS Group raised their price target on Hasbro from $68.00 to $69.00 and gave the company a “buy” rating in a report on Friday, May 24th. Four 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, Hasbro presently has an average rating of “Moderate Buy” and an average price target of $70.55.

Hasbro 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.