Principal Financial Group Inc. Purchases 5,771 Shares of Hasbro, Inc. (NASDAQ:HAS)

Principal Financial Group Inc. boosted its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,904 shares of the company’s stock after acquiring an additional 5,771 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Hasbro worth $11,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HAS. Plato Investment Management Ltd purchased a new position in Hasbro during the 2nd quarter worth $27,000. Asset Dedication LLC increased its position 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 during the period. Blue Trust Inc. lifted its position in shares of Hasbro by 224.8% in the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company’s stock worth $31,000 after purchasing an additional 299 shares during the period. True Wealth Design LLC bought a new position in shares of Hasbro during the third quarter valued at approximately $31,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Hasbro during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Trading Down 0.5 %

HAS stock opened at $56.70 on Monday. Hasbro, Inc. has a 12-month low of $46.09 and a 12-month high of $73.46. The business’s 50-day moving average is $63.52 and its 200 day moving average is $64.70. 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 stock has a market cap of $7.91 billion, a price-to-earnings ratio of -12.22, a PEG ratio of 0.60 and a beta of 0.62.

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

Hasbro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Wednesday, November 20th. Hasbro’s dividend payout ratio is presently -60.34%.

Insider Buying and Selling

In other Hasbro news, EVP Matthew Edward Austin sold 1,718 shares of Hasbro 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 transaction, the executive vice president now directly owns 36,828 shares of the company’s stock, valued at $2,396,029.68. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HAS. DA Davidson lifted their price target on Hasbro from $59.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Morgan Stanley increased their target price on shares of Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their price target on Hasbro from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Bank of America raised their price objective on Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group upped their target price on Hasbro from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Two research 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.67.

About Hasbro

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.