Texas Permanent School Fund Corp Decreases Stake in Hasbro, Inc. (NASDAQ:HAS)

Texas Permanent School Fund Corp lowered its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,571 shares of the company’s stock after selling 5,386 shares during the period. Texas Permanent School Fund Corp’s holdings in Hasbro were worth $1,262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HAS. Principal Securities Inc. bought a new stake in Hasbro in the fourth quarter valued at $80,000. Dimensional Fund Advisors LP boosted its stake in shares of Hasbro by 26.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,441,228 shares of the company’s stock valued at $73,593,000 after purchasing an additional 300,420 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Hasbro by 29.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,842 shares of the company’s stock valued at $503,000 after buying an additional 2,267 shares during the period. Norges Bank bought a new position in Hasbro in the fourth quarter worth about $70,544,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Hasbro by 5.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,509 shares of the company’s stock worth $230,000 after buying an additional 215 shares during the period. 91.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HAS shares. DA Davidson reissued a “neutral” rating and issued a $59.00 target price on shares of Hasbro in a research report on Friday, July 26th. Stifel Nicolaus increased their price objective on Hasbro from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, July 26th. UBS Group boosted their target price on shares of Hasbro from $68.00 to $69.00 and gave the company a “buy” rating in a report on Friday, May 24th. JPMorgan Chase & Co. upgraded shares of Hasbro from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $61.00 to $74.00 in a research note on Thursday, May 23rd. Finally, Morgan Stanley upped their price objective on shares of Hasbro from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Hasbro presently has an average rating of “Moderate Buy” and an average target price of $70.55.

Hasbro Stock Performance

HAS opened at $71.82 on Friday. The company has a 50 day simple moving average of $65.26 and a two-hundred day simple moving average of $60.50. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.46 and a quick ratio of 1.27. The firm has a market cap of $10.00 billion, a P/E ratio of -7.08, a PEG ratio of 0.52 and a beta of 0.61. Hasbro, Inc. has a 1-year low of $42.66 and a 1-year high of $72.25.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.44. The business had revenue of $995.30 million for the quarter, compared to analysts’ expectations of $941.38 million. Hasbro had a positive return on equity of 38.83% and a negative net margin of 22.78%. The business’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. Equities analysts forecast 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, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Wednesday, August 21st. Hasbro’s payout ratio is currently -27.61%.

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.