Hasbro (NASDAQ:HAS) Hits New 1-Year High Following Analyst Upgrade

Hasbro, Inc. (NASDAQ:HAS) shares hit a new 52-week high during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $75.00 to $83.00. Jefferies Financial Group currently has a buy rating on the stock. Hasbro traded as high as $73.46 and last traded at $72.57, with a volume of 78674 shares traded. The stock had previously closed at $72.32.

HAS has been the subject of a number of other reports. Morgan Stanley raised their price target on Hasbro from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Stifel Nicolaus raised their price target on Hasbro from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. DA Davidson reiterated a “neutral” rating and issued a $59.00 target price on shares of Hasbro in a research note on Friday, July 26th. Finally, Bank of America increased their target price on Hasbro from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Hasbro has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Hedge Funds Weigh In On Hasbro

Institutional investors have recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new position in shares of Hasbro during the second quarter valued at $27,000. Asset Dedication LLC raised its holdings in Hasbro by 290.1% in the second quarter. Asset Dedication LLC now owns 472 shares of the company’s stock worth $28,000 after purchasing an additional 351 shares in the last quarter. Optiver Holding B.V. bought a new position in Hasbro in the fourth quarter worth about $36,000. Neo Ivy Capital Management bought a new position in Hasbro in the fourth quarter worth about $45,000. Finally, International Assets Investment Management LLC bought a new position in Hasbro in the second quarter worth about $46,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Price Performance

The firm has a market capitalization of $10.07 billion, a P/E ratio of -7.14, a P/E/G ratio of 0.53 and a beta of 0.61. 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 stock’s fifty day simple moving average is $67.43 and its 200 day simple moving average is $61.81.

Hasbro (NASDAQ:HAS) last announced its earnings results on Thursday, July 25th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.44. The business had revenue of $995.30 million during the quarter, compared to the consensus estimate of $941.38 million. Hasbro had a negative net margin of 22.78% and a positive return on equity of 38.83%. The firm’s revenue was down 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, equities research analysts predict that Hasbro, Inc. will post 3.93 EPS for the current year.

Hasbro Announces Dividend

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 of this dividend was Wednesday, August 21st. This represents a $2.80 dividend on an annualized basis and a yield of 3.87%. Hasbro’s dividend payout ratio is presently -27.61%.

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.