Hasbro (NASDAQ:HAS) Price Target Lowered to $101.00 at Citigroup

Hasbro (NASDAQ:HAS) had its price objective lowered by Citigroup from $114.00 to $101.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Hasbro from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. UBS Group reiterated a “buy” rating and issued a $110.00 target price on shares of Hasbro in a report on Thursday, June 18th. Weiss Ratings lowered shares of Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. BNP Paribas Exane increased their target price on shares of Hasbro from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Finally, Wall Street Zen lowered shares of Hasbro from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.21.

Hasbro Price Performance

NASDAQ HAS traded up $1.57 on Friday, reaching $78.96. The company had a trading volume of 1,656,423 shares, compared to its average volume of 1,891,692. The firm’s 50 day moving average price is $86.62 and its 200 day moving average price is $90.25. Hasbro has a 12 month low of $69.50 and a 12 month high of $106.98. The stock has a market capitalization of $11.17 billion, a PE ratio of -47.57, a price-to-earnings-growth ratio of 1.90 and a beta of 0.49. The company has a quick ratio of 1.49, a current ratio of 1.65 and a debt-to-equity ratio of 4.59.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Wednesday, May 13th. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.27. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $969.20 million. Hasbro had a positive return on equity of 174.64% and a negative net margin of 4.62%.The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. As a group, equities analysts predict that Hasbro will post 5.98 earnings per share for the current year.

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Monday, June 1st were given a dividend of $0.70 per share. The ex-dividend date was Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Hasbro’s dividend payout ratio (DPR) is -168.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CYBER HORNET ETFs LLC acquired a new position in shares of Hasbro during the 2nd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Hasbro in the 4th quarter valued at approximately $27,000. MUFG Securities EMEA plc purchased a new stake in Hasbro in the second quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Hasbro by 1,190.0% during the second 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 in the last quarter. Finally, Cedar Mountain Advisors LLC purchased a new position in shares of Hasbro during the first quarter worth $37,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro unveiled Blooms by Play-Doh, a new adult-focused product line that expands the iconic brand beyond kids’ toys and could open a fresh revenue stream. Hasbro Introduces Blooms by Play-Doh, A New Creative Experience Designed for Adults
• Positive Sentiment: Hasbro also highlighted a Transformers crossover strategy, including a first-of-its-kind multipack and a Transformers x Scooby-Doo figure, reinforcing its ability to monetize beloved brands through new collectibles and fan-driven products. Hasbro Reveals a First-of-Its-Kind Transformers Multipack [EXCLUSIVE]
• Neutral Sentiment: Hasbro continues to lean into its “aging up” strategy, using influencers and adult-oriented branding to broaden Play-Doh’s appeal; the concept is promising, but execution risk remains after an earlier adult Play-Doh effort fell short. Hasbro’s ‘Aging Up’ Strategy Continues With a Reattempt at Adult Play-Doh
• Neutral Sentiment: Citigroup lowered its price target on Hasbro (HAS) to $101 from $114, but maintained a Buy rating, signaling confidence in upside even after the cut. Benzinga

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.