Graypoint LLC, an institutional investor, has recently acquired a new position in shares of Hasbro, Inc. (NASDAQ: HAS). According to the company’s recent 13F filing with the Securities and Exchange Commission (SEC), Graypoint LLC purchased 3,950 shares of Hasbro’s stock during the second quarter. The value of this acquisition is estimated to be around $256,000.
Hasbro, Inc., a renowned American multinational toy and board game company, has been gaining attention from investors due to its strong financial performance and consistent growth. The purchase made by Graypoint LLC only further highlights the appeal that Hasbro holds for institutional investors.
This news comes in conjunction with Hasbro’s recent announcement regarding its quarterly dividend payment. The company has declared a dividend which is set to be paid on Wednesday, November 15th. Investors who are registered as of Wednesday, November 1st will receive a dividend of $0.70 per share. This amounts to an annualized dividend of $2.80 per share and signifies a yield of 4.50%.
It is worth noting that the ex-dividend date for this payout is Tuesday, October 31st. This means that investors who purchase Hasbro shares on or after this date will not be eligible to receive the upcoming dividend payment.
While some may question the company’s high dividend payout ratio of -151.35%, it is crucial to consider the broader context within which this figure exists. Dividend payout ratios are typically calculated by dividing total dividends paid by net income earned over a certain period. In Hasbro’s case, their negative figure could indicate that they have experienced losses in recent periods or have chosen alternative methods of allocating earnings to shareholders.
In conclusion, Graypoint LLC’s acquisition of shares in Hasbro, Inc., coupled with the announcement of their upcoming dividend payout, paints a positive picture for both the company and potential investors. As we move forward, it will be interesting to see how Hasbro capitalizes on its market position and continues to deliver value to its shareholders.
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Growing Stakes and Analyst Sentiment: A Look at Hasbro, Inc.
Hasbro, Inc., a leading toy and board game company, has seen its stake grow among several hedge funds and institutional investors. State Street Corp, for instance, increased its stake in Hasbro by 35.8% in the first quarter of this year. The corporation now owns 6,888,597 shares of Hasbro stock valued at $369,849,000.
Morgan Stanley also experienced substantial growth in its stake in Hasbro. During the last quarter, Morgan Stanley purchased an additional 2,541,129 shares, bringing its total ownership to 3,634,864 shares valued at $221,763,000.
Another notable institutional investor that expanded its stake in Hasbro is Charles Schwab Investment Management Inc. With a growth rate of 10.2%, the firm obtained an additional 286,248 shares during the last quarter. Its current holding stands at 3,085,257 shares worth $188,232,000.
Cooke & Bieler LP also showed confidence in Hasbro’s potential by increasing their own stake by 9.8% in the first quarter. The firm acquired an additional 253,808 shares and currently holds 2,836,186 shares with a value of $152,
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Moreover Geode Capital Management LLC demonstrated a milder increase of just
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Combined, these institutional investors and hedge funds now own approximately 82.84% of the company’s stock.
Hasbro has garnered significant attention from research analysts as well. DA Davidson reiterated its “buy” rating on Hasbro stock and set a target price of $80.00 per share in a recent research note issued on August 7th.
Other research firms have also shown positive sentiment towards Hasbro. Stifel Nicolaus raised its price target from $79.00 to $94.00 and maintained its “buy” rating on August 25th. Bank of America similarly raised its price target from $85.00 to $90.00 and upheld a “buy” rating on August 22nd.
StockNews.com had originally given Hasbro stock a “sell” rating but upgraded it to a “hold” rating on September 29th.
Additionally, Morgan Stanley initiated coverage on Hasbro in another research report on September 27th, raising the bar with an “overweight” rating and setting a price target of $84.
Four equities research analysts have rated the stock as simply a hold, while nine have assigned a more optimistic buy rating to the Hasbro’s shares. According to data from Bloomberg.com, overall sentiment indicates that Hasbro is considered as having a moderate buy rating among most analysts surveyed, with the consensus target price being set at $80.00.
As of October 5th, HAS stock opened at $62.29.
The toy giant has experienced both highs and lows in the past year. Hasbro’s 12-month low was $45.75, while its highest recorded point was $73.57.
Hasbro recently reported its quarterly earnings results on August 3rd. The company fell short of expectations, earning $0.49 per share compared to the consensus estimate of $0.58 per share, resulting in a decline in net margin of 4.61%. However, Hasbro did showcase a positive return on equity at 16.12%. The firm generated revenue of $1.21 billion for the quarter, slightly exceeding the consensus estimate of $1.
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The company faced a decrease in revenue by 9.6% compared to
