The Goldman Sachs Group Has Lowered Expectations for Hasbro (NASDAQ:HAS) Stock Price

Hasbro (NASDAQ:HAS) had its price target reduced by equities research analysts at The Goldman Sachs Group from $117.00 to $115.00 in a report issued on Monday. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 31.81% from the company’s previous close.

Several other research firms also recently commented on HAS. Roth Capital reissued a “buy” rating on shares of Hasbro in a report on Wednesday, July 22nd. Argus lifted their price objective on Hasbro from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Jefferies Financial Group lowered their target price on Hasbro from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. JPMorgan Chase & Co. decreased their price target on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Hasbro from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, August 20th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.50.

Hasbro Stock Performance

NASDAQ:HAS opened at $87.25 on Monday. The stock has a 50-day moving average price of $91.66 and a 200 day moving average price of $89.94. The stock has a market capitalization of $12.31 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.50 and a beta of 0.47. Hasbro has a 12-month low of $69.50 and a 12-month high of $106.98. 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 announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $1.30 EPS. The company’s revenue was up 16.2% on a year-over-year basis. Equities research analysts forecast that Hasbro will post 6.16 EPS for the current fiscal year.

Insider Buying and Selling at Hasbro

In other Hasbro news, insider Holly Barbacovi sold 5,057 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $94.20, for a total value of $476,369.40. Following the completion of the sale, the insider directly owned 37,486 shares of the company’s stock, valued at $3,531,181.20. The trade was a 11.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy J. Kilpin sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the transaction, the insider directly owned 54,229 shares in the company, valued at approximately $5,049,804.48. This trade represents a 26.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 50,472 shares of company stock valued at $4,736,533. 0.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hasbro

Several institutional investors have recently made changes to their positions in HAS. BlackRock Inc. bought a new stake in shares of Hasbro in the second quarter valued at about $2,204,689,000. Geode Capital Management LLC raised its holdings in shares of Hasbro by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company’s stock valued at $299,700,000 after purchasing an additional 122,592 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Hasbro in the 2nd quarter worth approximately $289,258,000. Capital Research Global Investors increased its holdings in Hasbro by 5.3% during the fourth quarter. Capital Research Global Investors now owns 3,225,875 shares of the company’s stock valued at $264,522,000 after buying an additional 162,354 shares during the period. Finally, Amundi increased its holdings in Hasbro by 21.1% during the first quarter. Amundi now owns 1,699,565 shares of the company’s stock valued at $159,079,000 after buying an additional 296,277 shares during the period. 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 that develops, markets and licenses toys, games and related entertainment experiences. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Magic: The Gathering and Dungeons & Dragons. The company serves consumers through retail, e-commerce, digital gaming, licensing and entertainment channels.

Hasbro’s business includes consumer products, tabletop and digital gaming, and brand licensing.