Hasbro (NASDAQ:HAS) Price Target Raised to $79.00

Hasbro (NASDAQ:HAS) had its target price raised by Morgan Stanley from $78.00 to $79.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on the stock. DA Davidson reissued a neutral rating and set a $59.00 price target on shares of Hasbro in a research report on Friday. JPMorgan Chase & Co. raised shares of Hasbro from a neutral rating to an overweight rating and increased their price target for the stock from $61.00 to $74.00 in a research report on Thursday, May 23rd. UBS Group increased their price target on shares of Hasbro from $68.00 to $69.00 and gave the stock a buy rating in a research report on Friday, May 24th. Roth Mkm increased their price target on shares of Hasbro from $65.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus increased their price target on shares of Hasbro from $76.00 to $78.00 and gave the stock a buy rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $70.08.

Hasbro Trading Up 1.3 %

NASDAQ HAS opened at $64.70 on Friday. The firm’s 50-day moving average is $59.55 and its two-hundred day moving average is $56.12. Hasbro has a 12 month low of $42.66 and a 12 month high of $73.57. 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 has a market capitalization of $9.01 billion, a P/E ratio of -6.38, a PEG ratio of 0.50 and a beta of 0.62.

Hasbro (NASDAQ:HAS) last posted its earnings results on Thursday, July 25th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $995.30 million for the quarter, compared to analysts’ expectations of $941.38 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. Hasbro’s revenue for the quarter was down 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Hasbro will post 3.86 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be paid a $0.70 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $2.80 annualized dividend and a yield of 4.33%. Hasbro’s dividend payout ratio is currently -27.61%.

Insider Buying and Selling at Hasbro

In other Hasbro news, EVP Tarrant L. Sibley sold 13,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $60.26, for a total value of $783,380.00. Following the transaction, the executive vice president now directly owns 53,003 shares in the company, valued at $3,193,960.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hasbro

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of Hasbro by 328.2% during the fourth quarter. SG Americas Securities LLC now owns 6,945 shares of the company’s stock worth $355,000 after acquiring an additional 5,323 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Hasbro by 15.3% during the fourth quarter. Pacer Advisors Inc. now owns 14,957 shares of the company’s stock worth $764,000 after acquiring an additional 1,982 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Hasbro by 133.8% during the fourth quarter. Fifth Third Bancorp now owns 5,596 shares of the company’s stock worth $286,000 after acquiring an additional 3,203 shares during the last quarter. Arizona State Retirement System grew its position in shares of Hasbro by 0.8% during the fourth quarter. Arizona State Retirement System now owns 36,225 shares of the company’s stock worth $1,850,000 after acquiring an additional 300 shares during the last quarter. Finally, Fulton Bank N.A. grew its position in shares of Hasbro by 24.8% during the fourth quarter. Fulton Bank N.A. now owns 6,497 shares of the company’s stock worth $332,000 after acquiring an additional 1,293 shares during the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

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.