Hasbro, Inc. (NASDAQ:HAS) Short Interest Up 22.7% in October

Hasbro, Inc. (NASDAQ:HAS) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,270,000 shares, an increase of 22.7% from the October 15th total of 3,480,000 shares. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 3.3% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus boosted their price target on Hasbro from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their target price on shares of Hasbro from $75.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target on shares of Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley upped their price objective on Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Bank of America boosted their target price on shares of Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $80.67.

Hasbro Price Performance

NASDAQ:HAS traded down $0.85 during midday trading on Friday, hitting $62.21. 1,168,618 shares of the stock were exchanged, compared to its average volume of 1,617,096. Hasbro has a one year low of $43.74 and a one year high of $73.46. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of -13.41, a P/E/G ratio of 0.58 and a beta of 0.63. The business has a 50-day moving average price of $69.01 and a two-hundred day moving average price of $64.29. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 2.64.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.45. Hasbro had a negative net margin of 14.83% and a positive return on equity of 47.91%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.30 billion. The business’s revenue was down 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. Sell-side analysts predict that Hasbro will post 3.94 EPS for the current year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.80 annualized dividend and a yield of 4.50%. Hasbro’s payout ratio is presently -60.34%.

Institutional Investors Weigh In On Hasbro

Several hedge funds have recently made changes to their positions in the company. Huntington National Bank boosted its position in Hasbro by 27.3% during the 3rd quarter. Huntington National Bank now owns 759 shares of the company’s stock worth $55,000 after acquiring an additional 163 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Hasbro by 2.2% in the third quarter. Glenmede Trust Co. NA now owns 7,657 shares of the company’s stock worth $554,000 after purchasing an additional 166 shares in the last quarter. Axiom Advisory LLC boosted its holdings in shares of Hasbro by 1.6% during the third quarter. Axiom Advisory LLC now owns 10,880 shares of the company’s stock worth $787,000 after purchasing an additional 170 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Hasbro by 2.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 6,588 shares of the company’s stock valued at $385,000 after purchasing an additional 179 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Hasbro by 18.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,256 shares of the company’s stock valued at $81,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.