Verition Fund Management LLC Has $7.40 Million Position in Hasbro, Inc. (NASDAQ:HAS)

Verition Fund Management LLC lifted its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 396.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,324 shares of the company’s stock after purchasing an additional 81,711 shares during the period. Verition Fund Management LLC’s holdings in Hasbro were worth $7,400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vinva Investment Management Ltd bought a new stake in Hasbro in the third quarter valued at approximately $258,000. Public Sector Pension Investment Board raised its stake in Hasbro by 2.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 22,833 shares of the company’s stock valued at $1,651,000 after acquiring an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hasbro by 2.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,826 shares of the company’s stock worth $2,012,000 after purchasing an additional 689 shares during the period. Glenmede Trust Co. NA boosted its position in Hasbro by 2.2% during the third quarter. Glenmede Trust Co. NA now owns 7,657 shares of the company’s stock worth $554,000 after purchasing an additional 166 shares during the period. Finally, FMR LLC increased its holdings in shares of Hasbro by 14.3% in the third quarter. FMR LLC now owns 13,867 shares of the company’s stock valued at $1,003,000 after purchasing an additional 1,730 shares during the last quarter. 91.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $65.15 on Monday. The firm has a 50 day moving average of $67.77 and a 200-day moving average of $64.46. Hasbro, Inc. has a 12 month low of $45.87 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 stock has a market capitalization of $9.09 billion, a PE ratio of -14.04, a PEG ratio of 0.60 and a beta of 0.63.

Hasbro (NASDAQ:HAS) last announced 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. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.30 billion. Hasbro had a negative net margin of 14.83% and a positive return on equity of 47.91%. During the same period in the previous year, the business earned $1.64 earnings per share. The company’s revenue was down 14.8% on a year-over-year basis. On average, equities research analysts predict that Hasbro, Inc. will post 3.93 EPS for the current fiscal year.

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Wednesday, November 20th. 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.