Stifel Nicolaus Cuts Hasbro (NASDAQ:HAS) Price Target to $77.00

Hasbro (NASDAQ:HAS) had its price target cut by Stifel Nicolaus from $82.00 to $77.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America upped their price objective on shares of Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Morgan Stanley upped their price objective on shares of Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on shares of Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. DA Davidson upped their price objective on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group upped their price target on shares of Hasbro from $75.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.11.

Hasbro Trading Up 0.7 %

Hasbro stock opened at $56.80 on Friday. The company’s fifty day simple moving average is $62.22 and its 200-day simple moving average is $64.52. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64. Hasbro has a 12 month low of $46.09 and a 12 month high of $73.46. The stock has a market cap of $7.92 billion, a P/E ratio of -12.24, a P/E/G ratio of 0.57 and a beta of 0.64.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.73 EPS for the quarter, beating 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 business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company posted $1.64 EPS. Hasbro’s revenue was down 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that Hasbro will post 3.93 EPS for the current fiscal year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Wednesday, November 20th. Hasbro’s dividend payout ratio is currently -60.34%.

Insider Activity

In other news, EVP Matthew Edward Austin sold 1,718 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $65.06, for a total transaction of $111,773.08. Following the completion of the transaction, the executive vice president now owns 36,828 shares of the company’s stock, valued at approximately $2,396,029.68. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Plato Investment Management Ltd acquired a new position in Hasbro in the second quarter worth about $27,000. Asset Dedication LLC raised its position 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. Blue Trust Inc. raised its position in Hasbro by 224.8% in the third quarter. Blue Trust Inc. now owns 432 shares of the company’s stock worth $31,000 after purchasing an additional 299 shares in the last quarter. True Wealth Design LLC acquired a new position in Hasbro in the third quarter worth about $31,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Hasbro in the third quarter worth about $40,000. Institutional investors and hedge funds 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.