Blueshift Asset Management LLC has recently made a significant entry into the toy and game giant Hasbro, Inc. (NASDAQ:HAS) with a substantial new institutional investment. This move, detailed in their latest 13F filing with the SEC, underscores a growing interest among hedge funds and other institutional investors in the prominent consumer goods company. The acquisition of 19,103 shares, valued at approximately $1,175,000, signals a notable confidence in Hasbro’s market position and future prospects, drawing attention to strategic equity investments within the NASDAQ HAS ecosystem.
Beyond Blueshift’s initial foray, a closer look at recent SEC filings reveals a dynamic landscape of institutional activity surrounding Hasbro Stock. Kovitz Investment Group Partners LLC, for instance, dramatically increased its stake in Hasbro during the fourth quarter, boosting its position by an astonishing 313.8%. This aggressive acquisition saw Kovitz accumulate an additional 2,427,299 shares, bringing their total holdings to 3,200,860 shares valued at an impressive $178,960,000. Such a significant increase highlights a strong bullish sentiment from key institutional investors.
Similarly, Invesco Ltd. demonstrated continued faith in Hasbro, elevating its position by 28.5% in the same period. Invesco’s strategic move involved acquiring 701,660 additional shares, culminating in a substantial holding of 3,159,524 shares, worth $176,649,000. Not to be outdone, Marshall Wace LLP also substantially amplified its stake by 23.7% during the 4th quarter, adding 507,054 shares to reach 2,643,381 shares, valued at $147,791,000. These synchronized actions from various prominent hedge funds underscore a collective strategic interest in Hasbro’s market performance.
The interest in Hasbro shares extends to new players entering the field, as evidenced by Raymond James Financial Inc. acquiring a new stake in the 4th quarter, valued at about $23,623,000. Furthermore, Valley Wealth Managers Inc. also initiated a new position in Hasbro during the 1st quarter, with their investment valued at approximately $25,381,000. These fresh stock acquisitions by new institutional participants further emphasize the widespread investment opportunities seen in Hasbro. Collectively, these holdings mean that 91.83% of Hasbro’s stock is now owned by hedge funds and other institutional investors, indicating a highly concentrated ownership structure.
Market analysts have closely monitored Hasbro’s performance, resulting in a series of optimistic research reports and revised price targets. The consensus among these financial experts points towards a generally positive outlook for the company’s shares. This broad approval from the analyst community contributes significantly to investor confidence and future projections for the toy industry giant, informing comprehensive market analysis.
Leading financial institutions have been actively re-evaluating Hasbro. Monness Crespi & Hardt, for instance, recently increased their price target from $80.00 to $90.00, reiterating a “buy” rating. DA Davidson followed suit, raising their price objective from $75.00 to $80.00 while maintaining a “neutral” stance. Citigroup also lifted its target price from $79.00 to $91.00, assigning a “buy” rating, and Roth Capital upped their price target from $86.00 to $92.00, also with a “buy” rating. The overall sentiment, according to MarketBeat data, is a “Moderate Buy” with an average target price of $86.27, reflecting robust stock market analysis.
Hasbro’s financial health remains a key factor driving investor interest. The company recently announced robust quarterly earnings, reporting $1.30 EPS, which significantly surpassed analysts’ consensus estimates of $0.78 by a notable $0.52. Despite a negative net margin of 13.37%, Hasbro posted a strong positive return on equity of 64.49%. The company also declared a quarterly dividend of $0.70 per share, payable on September 3rd, offering an attractive annualized dividend of $2.80 and a yield of 3.7%, making it a noteworthy consideration for those interested in dividend stocks. Sell-side analysts predict Hasbro, Inc. will post 4.33 EPS for the current fiscal year, indicating a positive trajectory for its NASDAQ HAS listing.
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