Hasbro (NASDAQ:HAS) Price Target Raised to $83.00

Hasbro (NASDAQ:HAS) had its target price increased by Jefferies Financial Group from $75.00 to $83.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. DA Davidson reissued a neutral rating and set a $59.00 price target on shares of Hasbro in a research note on Friday, July 26th. Bank of America increased their price target on shares of Hasbro from $85.00 to $90.00 and gave the company a buy rating in a research note on Monday, September 16th. Morgan Stanley raised their price objective on shares of Hasbro from $78.00 to $79.00 and gave the company an overweight rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus raised their price objective on shares of Hasbro from $76.00 to $78.00 and gave the company a buy rating in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $72.36.

Hasbro Price Performance

HAS opened at $71.80 on Tuesday. Hasbro has a one year low of $42.66 and a one year high of $73.46. 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 company’s 50 day simple moving average is $67.64 and its 200-day simple moving average is $61.88. The stock has a market capitalization of $10.00 billion, a P/E ratio of -7.08, a price-to-earnings-growth ratio of 0.53 and a beta of 0.61.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.78 by $0.44. Hasbro had a negative net margin of 22.78% and a positive return on equity of 38.83%. The business had revenue of $995.30 million for the quarter, compared to analysts’ expectations of $941.38 million. During the same period in the prior year, the firm earned $0.49 earnings per share. Hasbro’s revenue was down 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Hasbro will post 3.93 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.70 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $2.80 annualized dividend and a yield of 3.90%. Hasbro’s dividend payout ratio (DPR) is presently -27.61%.

Institutional Investors Weigh In On Hasbro

Several hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its holdings in Hasbro by 2.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,588 shares of the company’s stock worth $385,000 after purchasing an additional 179 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Hasbro by 18.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,256 shares of the company’s stock worth $81,000 after purchasing an additional 196 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Hasbro by 0.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 32,400 shares of the company’s stock worth $1,895,000 after purchasing an additional 288 shares during the period. Wealth Advisors of Tampa Bay LLC raised its holdings in Hasbro by 0.6% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 49,302 shares of the company’s stock worth $2,884,000 after purchasing an additional 295 shares during the period. Finally, Texas Permanent School Fund Corp raised its holdings in Hasbro by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 26,957 shares of the company’s stock worth $1,524,000 after purchasing an additional 299 shares during the period. 91.83% of the stock is currently owned by institutional investors and hedge funds.

About Hasbro

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.