Hasbro (NASDAQ:HAS) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Hasbro (NASDAQ:HAS) from a buy rating to a hold rating in a report released on Saturday morning.

Other research analysts have also recently issued research reports about the stock. UBS Group restated a “buy” rating and set a $120.00 target price on shares of Hasbro in a research note on Monday, July 27th. Roth Capital reiterated a “buy” rating on shares of Hasbro in a research note on Wednesday, July 22nd. BNP Paribas Exane decreased their price target on Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Jefferies Financial Group lowered their price objective on Hasbro from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Finally, Wells Fargo & Company dropped their price objective on Hasbro from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 9th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.07.

Hasbro Price Performance

NASDAQ HAS opened at $93.94 on Friday. Hasbro has a 12 month low of $69.50 and a 12 month high of $106.98. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.73 and a beta of 0.49. The company’s 50 day moving average is $84.47 and its two-hundred day moving average is $90.61. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, research analysts anticipate that Hasbro will post 6.13 earnings per share for the current year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s dividend payout ratio is 50.36%.

Insider Activity

In other Hasbro news, CFO Gina M. Goetter sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $95.44, for a total transaction of $1,049,840.00. Following the completion of the transaction, the chief financial officer owned 88,104 shares in the company, valued at $8,408,645.76. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Hight sold 3,186 shares of Hasbro stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $93.71, for a total value of $298,560.06. Following the completion of the sale, the insider directly owned 67,557 shares in the company, valued at approximately $6,330,766.47. The trade was a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,451 shares of company stock worth $3,987,379 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Hasbro

Several large investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Hasbro in the 4th quarter worth $27,000. CYBER HORNET ETFs LLC purchased a new stake in Hasbro during the second quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new stake in shares of Hasbro in the 2nd quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Hasbro by 1,190.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 357 shares during the period. Finally, Cedar Mountain Advisors LLC bought a new position in shares of Hasbro during the 1st quarter valued at approximately $37,000. Institutional investors own 91.83% of the company’s stock.

Hasbro News Roundup

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating, with an average price target of $109.07 versus recent trading levels. Twelve analysts rate Hasbro a Buy, compared with three Holds and one Sell. Hasbro receives Moderate Buy consensus
• Positive Sentiment: Wizards of the Coast unveiled new Dungeons & Dragons initiatives, including a World of Warcraft crossover launching in November, along with planned Dark Sun and Star Wars experiences. The announcements could strengthen Hasbro’s licensing, gaming and fan-engagement opportunities. Dungeons and Dragons announcements
• Positive Sentiment: Hasbro prevailed in a long-running copyright dispute involving Peppa Pig and Vietnam’s Wolfoo, protecting an important intellectual-property asset and potentially limiting unauthorized competition. Peppa Pig copyright case
• Positive Sentiment: New Transformers: Age of the Primes action figures provide additional product support for one of Hasbro’s major brands. Transformers action figures
• Neutral Sentiment: Hasbro declared a quarterly dividend of $0.70, or $2.80 annually, representing an approximately 3% yield. The dividend is payable September 2 to shareholders of record August 19.
• Negative Sentiment: Insider selling may weigh on sentiment: CFO Gina Goetter sold 11,000 shares for about $1.05 million, while John Hight sold 3,186 shares for roughly $299,000. Timothy J. Kilpin also sold 20,000 shares, although that transaction was reported as being to cover tax withholding on vested equity awards. Hasbro insider sales

Hasbro Company Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.