Principal Financial Group Inc. Increases Stock Position in Hasbro, Inc. (NASDAQ:HAS)

Principal Financial Group Inc. raised its stake in shares of Hasbro, Inc. (NASDAQ:HAS) by 3.9% in the third quarter, according to the company in 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 period. Principal Financial Group Inc. owned approximately 0.11% of Hasbro worth $11,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HAS. Dimensional Fund Advisors LP increased its holdings in Hasbro by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,858,541 shares of the company’s stock valued at $108,723,000 after purchasing an additional 135,548 shares during the last quarter. Samlyn Capital LLC boosted its position in shares of Hasbro by 87.4% during the second quarter. Samlyn Capital LLC now owns 1,833,374 shares of the company’s stock worth $107,252,000 after buying an additional 855,099 shares during the period. Swedbank AB acquired a new stake in shares of Hasbro in the first quarter valued at $82,523,000. Point72 Asset Management L.P. raised its holdings in shares of Hasbro by 43.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 707,809 shares of the company’s stock valued at $41,407,000 after buying an additional 213,664 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Hasbro by 469.4% during the 2nd quarter. AQR Capital Management LLC now owns 686,144 shares of the company’s stock worth $40,037,000 after acquiring an additional 565,645 shares in the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

Hasbro Stock Performance

Shares of HAS stock opened at $62.21 on Monday. The company has a market cap of $8.68 billion, a P/E ratio of -13.41, a PEG ratio of 0.58 and a beta of 0.63. The firm has a fifty day moving average price of $69.01 and a 200 day moving average price of $64.29. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 2.64. Hasbro, Inc. has a 12 month low of $43.74 and a 12 month high of $73.46.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the prior year, the firm posted $1.64 EPS. The business’s quarterly revenue was down 14.8% compared to the same quarter last year. Sell-side analysts predict that Hasbro, Inc. will post 3.94 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.80 annualized dividend and a yield of 4.50%. Hasbro’s dividend payout ratio is currently -60.34%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America lifted their target price on Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus lifted their price objective on shares of Hasbro from $78.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. DA Davidson increased their target price on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Morgan Stanley boosted their price target on shares of Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group upped their price objective on Hasbro from $75.00 to $83.00 and gave the stock 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, Hasbro currently has a consensus rating of “Moderate Buy” and an average price target of $80.67.

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.