Hasbro (NASDAQ:HAS) Sets New 12-Month High on Analyst Upgrade

Hasbro, Inc. (NASDAQ:HAS)’s share price reached a new 52-week high during trading 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.

Other analysts also recently issued research reports about the stock. UBS Group raised their price target on shares of Hasbro from $68.00 to $69.00 and gave the company a “buy” rating in a report on Friday, May 24th. JPMorgan Chase & Co. raised shares of Hasbro from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $61.00 to $74.00 in a research report on Thursday, May 23rd. Stifel Nicolaus increased 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. DA Davidson restated a “neutral” rating and issued a $59.00 price target on shares of Hasbro in a research note on Friday, July 26th. Finally, Morgan Stanley upped 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Hasbro has an average rating of “Moderate Buy” and a consensus target price of $70.55.

Hedge Funds Weigh In On Hasbro

Institutional investors have recently bought and sold shares of the business. UBS Group AG boosted its holdings in shares of Hasbro by 43.1% in the 4th quarter. UBS Group AG now owns 329,666 shares of the company’s stock worth $16,833,000 after purchasing an additional 99,263 shares during the period. Commonwealth Equity Services LLC boosted its stake in Hasbro by 77.2% during the first quarter. Commonwealth Equity Services LLC now owns 48,657 shares of the company’s stock worth $2,750,000 after buying an additional 21,204 shares during the period. Intech Investment Management LLC increased its position in Hasbro by 351.7% during the first quarter. Intech Investment Management LLC now owns 24,411 shares of the company’s stock valued at $1,380,000 after acquiring an additional 19,007 shares during the last quarter. Norges Bank purchased a new stake in shares of Hasbro in the fourth quarter valued at $70,544,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Hasbro by 95.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,100 shares of the company’s stock worth $2,020,000 after acquiring an additional 19,113 shares during the last quarter. Institutional investors own 91.83% of the company’s stock.

Hasbro Stock Performance

The company has a current ratio of 1.46, a quick ratio of 1.27 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $9.73 billion, a PE ratio of -6.88, a PEG ratio of 0.52 and a beta of 0.61. The business’s 50 day moving average is $64.44 and its 200 day moving average is $60.20.

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

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors 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 dividend yield of 4.01%. Hasbro’s payout ratio is -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.