Hasbro (NASDAQ:HAS) Sets New 1-Year High – Here’s What Happened

Hasbro, Inc. (NASDAQ:HAS) hit a new 52-week high on Monday . The stock traded as high as $85.62 and last traded at $85.3110, with a volume of 278878 shares traded. The stock had previously closed at $82.97.

Wall Street Analysts Forecast Growth

HAS has been the topic of several recent analyst reports. Roth Capital set a $96.00 price target on shares of Hasbro and gave the company a “buy” rating in a research note on Friday, October 24th. Citigroup lifted their price target on shares of Hasbro from $91.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Jefferies Financial Group upped their price objective on shares of Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 29th. The Goldman Sachs Group raised their price objective on Hasbro from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Finally, UBS Group boosted their target price on Hasbro from $88.00 to $89.00 and gave the company a “buy” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.42.

Hasbro Stock Up 3.6%

The company has a market capitalization of $12.06 billion, a price-to-earnings ratio of -21.46, a PEG ratio of 1.49 and a beta of 0.55. The company has a debt-to-equity ratio of 7.65, a quick ratio of 1.42 and a current ratio of 1.70. The business has a 50-day simple moving average of $80.05 and a two-hundred day simple moving average of $77.76.

Hasbro (NASDAQ:HAS) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.05. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.35 billion. Hasbro had a positive return on equity of 82.17% and a negative net margin of 12.81%.The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. As a group, equities analysts predict that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Wednesday, November 19th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, November 19th. Hasbro’s payout ratio is currently -69.83%.

Insider Activity

In related news, Director Hope F. Cochran sold 4,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $77.24, for a total transaction of $308,960.00. Following the transaction, the director owned 17,102 shares of the company’s stock, valued at $1,320,958.48. This represents a 18.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Hasbro

Several institutional investors and hedge funds have recently modified their holdings of HAS. Bank of America Corp DE increased its stake in shares of Hasbro by 128.7% during the 2nd quarter. Bank of America Corp DE now owns 2,981,423 shares of the company’s stock worth $220,089,000 after purchasing an additional 1,677,962 shares in the last quarter. Norges Bank purchased a new position in Hasbro during the second quarter worth $123,710,000. AQR Capital Management LLC raised its holdings in shares of Hasbro by 95.7% in the second quarter. AQR Capital Management LLC now owns 2,259,812 shares of the company’s stock worth $164,831,000 after acquiring an additional 1,105,004 shares during the last quarter. Mane Global Capital Management LP purchased a new stake in shares of Hasbro in the second quarter valued at $77,471,000. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Hasbro during the third quarter valued at $30,608,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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.