Hasbro (NASDAQ:HAS) Price Target Raised to $87.00

Hasbro (NASDAQ:HAS) had its price target boosted by Morgan Stanley from $85.00 to $87.00 in a research report sent to investors on Friday, Marketbeat.com reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on the stock. Monness Crespi & Hardt lifted their price objective on shares of Hasbro from $80.00 to $90.00 in a research note on Wednesday, September 17th. UBS Group lifted their price objective on shares of Hasbro from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Citigroup lifted their price objective on shares of Hasbro from $91.00 to $97.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group upgraded shares of Hasbro from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $85.00 in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hasbro from $75.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.18.

Hasbro Stock Down 1.6%

NASDAQ:HAS opened at $76.70 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 7.65. Hasbro has a twelve month low of $49.00 and a twelve month high of $82.19. The company’s 50 day moving average is $77.01 and its two-hundred day moving average is $71.52. The company has a market cap of $10.76 billion, a PE ratio of -19.13, a P/E/G ratio of 0.98 and a beta of 0.60.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.63 by $0.05. Hasbro had a negative net margin of 12.81% and a positive return on equity of 82.17%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business posted $1.73 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Hasbro will post 4.33 EPS for the current year.

Hasbro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, November 19th. Hasbro’s payout ratio is currently -69.83%.

Insider Activity at Hasbro

In other Hasbro news, insider Roberta K. Thomson sold 1,002 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $79.81, for a total transaction of $79,969.62. Following the completion of the transaction, the insider directly owned 51,301 shares in the company, valued at approximately $4,094,332.81. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy J. Kilpin sold 8,557 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total transaction of $696,882.08. Following the transaction, the insider owned 44,301 shares of the company’s stock, valued at $3,607,873.44. This represents a 16.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,359 shares of company stock worth $2,970,828 in the last three months. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Hasbro

Large investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Hasbro during the third quarter worth $608,000. Bayforest Capital Ltd grew its holdings in shares of Hasbro by 6,786.1% during the third quarter. Bayforest Capital Ltd now owns 2,479 shares of the company’s stock worth $188,000 after buying an additional 2,443 shares in the last quarter. TFC Financial Management Inc. grew its holdings in shares of Hasbro by 2,042.9% in the third quarter. TFC Financial Management Inc. now owns 750 shares of the company’s stock valued at $57,000 after purchasing an additional 715 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Hasbro by 34.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 15,232 shares of the company’s stock valued at $1,155,000 after purchasing an additional 3,876 shares during the period. Finally, Cardinal Capital Management grew its holdings in shares of Hasbro by 1.2% in the third quarter. Cardinal Capital Management now owns 98,960 shares of the company’s stock valued at $7,506,000 after purchasing an additional 1,168 shares during the period. 91.83% of the stock is currently owned by institutional investors and hedge funds.

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.