Hasbro (NASDAQ:HAS) Hits New 12-Month High Following Analyst Upgrade

Hasbro, Inc. (NASDAQ:HAS)’s stock price reached a new 52-week high on Wednesday after UBS Group raised their price target on the stock from $82.00 to $88.00. UBS Group currently has a buy rating on the stock. Hasbro traded as high as $79.29 and last traded at $78.89, with a volume of 201662 shares traded. The stock had previously closed at $78.25.

Several other equities analysts also recently weighed in on HAS. The Goldman Sachs Group raised shares of Hasbro from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $85.00 in a research note on Monday, June 30th. Morgan Stanley raised their price target on shares of Hasbro from $83.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Monness Crespi & Hardt raised their price target on shares of Hasbro from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Citigroup raised their price target on shares of Hasbro from $79.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hasbro from $75.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.42.

Institutional Investors Weigh In On Hasbro

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Paloma Partners Management Co acquired a new stake in Hasbro during the second quarter worth about $1,218,000. Banco BTG Pactual S.A. acquired a new stake in shares of Hasbro during the second quarter valued at about $1,141,000. Canada Pension Plan Investment Board acquired a new stake in shares of Hasbro during the second quarter valued at about $6,769,000. Quantinno Capital Management LP increased its position in shares of Hasbro by 394.7% during the second quarter. Quantinno Capital Management LP now owns 169,245 shares of the company’s stock valued at $12,494,000 after acquiring an additional 135,035 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hasbro by 13.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,798 shares of the company’s stock valued at $1,388,000 after acquiring an additional 2,235 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Hasbro Trading Up 0.3%

The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of -19.84, a PEG ratio of 1.06 and a beta of 0.60. The business’s 50-day simple moving average is $74.44 and its two-hundred day simple moving average is $65.61. The company has a quick ratio of 1.32, a current ratio of 1.66 and a debt-to-equity ratio of 12.31.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.52. Hasbro had a negative net margin of 13.37% and a positive return on equity of 64.49%. The business had revenue of $980.80 million during the quarter, compared to analysts’ expectations of $891.82 million. During the same period last year, the business earned $1.22 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts forecast that Hasbro, Inc. will post 4.33 earnings per share for the current year.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Hasbro’s dividend payout ratio (DPR) is currently -68.97%.

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.