Hasbro (NASDAQ:HAS) Price Target Raised to $90.00

Hasbro (NASDAQ:HAS) had its target price boosted by The Goldman Sachs Group from $89.00 to $90.00 in a research report released on Friday,MarketScreener reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on Hasbro from $75.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Bank of America raised their target price on Hasbro from $95.00 to $100.00 and gave the company a “buy” rating in a report on Monday, September 29th. Zacks Research downgraded Hasbro from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. UBS Group raised their target price on Hasbro from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Finally, Monness Crespi & Hardt raised their target price on Hasbro from $80.00 to $90.00 in a report on Wednesday, September 17th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.18.

Hasbro Stock Performance

NASDAQ:HAS opened at $76.70 on Friday. The firm’s fifty day moving average price is $77.01 and its 200 day moving average price is $71.52. Hasbro has a 1-year low of $49.00 and a 1-year high of $82.19. The company has a debt-to-equity ratio of 7.65, a current ratio of 1.70 and a quick ratio of 1.42. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of -19.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $1.73 EPS. Hasbro’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Hasbro will post 4.33 EPS for the current year.

Hasbro Announces Dividend

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

Insider Transactions at Hasbro

In other news, insider Timothy J. Kilpin sold 8,557 shares of Hasbro 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 completion of the transaction, the insider owned 44,301 shares of the company’s stock, valued at $3,607,873.44. The trade was a 16.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christian P. Cocks sold 27,800 shares of Hasbro stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $78.92, for a total value of $2,193,976.00. Following the transaction, the chief executive officer directly owned 249,861 shares of the company’s stock, valued at $19,719,030.12. This trade represents a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,359 shares of company stock valued at $2,970,828 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Hasbro in the 3rd quarter valued at about $608,000. Bayforest Capital Ltd grew its holdings in shares of Hasbro by 6,786.1% during the 3rd quarter. Bayforest Capital Ltd now owns 2,479 shares of the company’s stock worth $188,000 after purchasing an additional 2,443 shares during the period. TFC Financial Management Inc. grew its holdings in shares of Hasbro by 2,042.9% during the 3rd quarter. TFC Financial Management Inc. now owns 750 shares of the company’s stock worth $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% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 15,232 shares of the company’s stock worth $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% during the 3rd quarter. Cardinal Capital Management now owns 98,960 shares of the company’s stock worth $7,506,000 after purchasing an additional 1,168 shares during the period. Institutional investors and hedge funds own 91.83% of the company’s stock.

About Hasbro

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.