Hasbro (NASDAQ:HAS) Sets New 52-Week High After Analyst Upgrade

Hasbro, Inc. (NASDAQ:HAS)’s stock price reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $85.00 to $90.00. Bank of America currently has a buy rating on the stock. Hasbro traded as high as $70.86 and last traded at $70.45, with a volume of 158411 shares. The stock had previously closed at $68.73.

Several other equities research analysts have also recently weighed in on HAS. DA Davidson reaffirmed a “neutral” rating and issued a $59.00 price target on shares of Hasbro in a research report on Friday, July 26th. UBS Group upped their target price on Hasbro from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Stifel Nicolaus lifted their price target on Hasbro from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $61.00 to $74.00 in a research note on Thursday, May 23rd. Finally, Morgan Stanley raised their price objective on Hasbro from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.55.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its stake in shares of Hasbro by 56.2% in the first quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Plato Investment Management Ltd purchased a new position in Hasbro during the 2nd quarter worth approximately $27,000. Asset Dedication LLC lifted its stake in Hasbro by 290.1% during the 2nd quarter. Asset Dedication LLC now owns 472 shares of the company’s stock valued at $28,000 after acquiring an additional 351 shares during the period. Optiver Holding B.V. acquired a new stake in Hasbro during the 4th quarter valued at approximately $36,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Hasbro in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Hasbro Price Performance

The company has a quick ratio of 1.27, a current ratio of 1.46 and a debt-to-equity ratio of 2.95. The stock’s 50 day moving average price is $64.44 and its two-hundred day moving average price is $60.20. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of -6.88, a price-to-earnings-growth ratio of 0.52 and a beta of 0.61.

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

Hasbro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.01%. The ex-dividend date was Wednesday, August 21st. Hasbro’s dividend payout ratio (DPR) is -27.61%.

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.