|Bid||86.70 x 1100|
|Ask||88.22 x 800|
|Day's Range||86.19 - 87.32|
|52 Week Range||80.72 - 105.73|
|Beta (5Y Monthly)||0.82|
|PE Ratio (TTM)||32.28|
|Forward Dividend & Yield||2.80 (3.22%)|
|Ex-Dividend Date||Jul 29, 2022|
|1y Target Est||N/A|
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Hasbro's heated proxy war with activist investor Alta Fox Capital shows no sign of cooling down.
BOSTON (Reuters) -Proxy advisory firms Institutional Shareholder Services and Glass Lewis on Friday backed toymaker Hasbro Inc in a boardroom battle with Alta Fox, although ISS said the hedge fund has zeroed in on valid concerns and some change may be needed. Alta Fox, which owns a 2.5% stake in Hasbro, criticized how the company allocated capital and its 2019 acquisition of Entertainment One. It urged Hasbro to spin off its Wizards of the Coast and Digital Gaming unit, and has nominated three director candidates.
Proxy advisory firm Glass Lewis on Friday recommended that Hasbro shareholders reelect all of the company's director nominees, dealing a blow to hedge fund Alta Fox's effort to replace three board members. "We do not believe there is a sufficient basis to support the board changes sought by (Alta Fox)," Glass Lewis wrote in its report, adding "the preponderance of the evidence validates Hasbro's strategy and business model." Alta Fox, which owns a 2.5% stake in the toy maker, has urged Hasbro to spin off its Wizards of the Coast and Digital Gaming unit and criticized its takeover of Entertainment One in 2019, its Brand Blueprint strategy and how it allocates capital.