Hasbro (NASDAQ:HAS) Reaches New 52-Week High – Here’s Why

Hasbro, Inc. (NASDAQ:HAS) shares hit a new 52-week high during trading on Wednesday. The company traded as high as $121.35 and last traded at $121.1490, with a volume of 144,830 shares trading hands. The stock had previously closed at $117.97.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HAS shares. Wells Fargo & Company increased their price objective on shares of Hasbro from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 21st. Bank of America lowered their target price on shares of Hasbro from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $127.00 price target (up from $116.00) on shares of Hasbro in a report on Wednesday, October 21st. Roth Capital reaffirmed a “buy” rating on shares of Hasbro in a research report on Wednesday, October 21st. Finally, The Goldman Sachs Group dropped their price objective on shares of Hasbro from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.93.

Hasbro Trading Up 3.7%

The firm has a market capitalization of $17.10 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.36. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.24 and a current ratio of 1.40. The firm has a 50 day moving average price of $97.32 and a two-hundred day moving average price of $92.68.

Hasbro (NASDAQ:HAS) last issued its earnings results on Tuesday, October 20th. The company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $1.04. Hasbro had a return on equity of 140.60% and a net margin of 18.44%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $1.68 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts expect that Hasbro, Inc. will post 6.69 EPS for the current fiscal year.

Hasbro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.3%. Hasbro’s dividend payout ratio (DPR) is currently 41.85%.

Insiders Place Their Bets

In other Hasbro news, Director Elizabeth Hamren sold 1,975 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $92.84, for a total value of $183,359.00. Following the completion of the transaction, the director directly owned 9,896 shares in the company, valued at $918,744.64. This trade represents a 16.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Holly Barbacovi sold 5,057 shares of Hasbro stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $94.20, for a total transaction of $476,369.40. Following the completion of the transaction, the insider directly owned 37,486 shares in the company, valued at approximately $3,531,181.20. This trade represents a 11.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 14,294 shares of company stock worth $1,523,834. Company insiders own 0.71% of the company’s stock.

Institutional Trading of Hasbro

Several large investors have recently added to or reduced their stakes in the company. Kestra Investment Management LLC increased its holdings in shares of Hasbro by 25.1% during the 3rd quarter. Kestra Investment Management LLC now owns 3,665 shares of the company’s stock worth $321,000 after purchasing an additional 735 shares during the period. AlphaCore Capital LLC bought a new stake in shares of Hasbro in the third quarter valued at about $203,000. Retirement Systems of Alabama grew its position in Hasbro by 4.7% during the third quarter. Retirement Systems of Alabama now owns 29,576 shares of the company’s stock worth $2,593,000 after buying an additional 1,338 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Hasbro by 20.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,862 shares of the company’s stock worth $617,000 after buying an additional 1,154 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in Hasbro by 14.5% during the third quarter. Parallel Advisors LLC now owns 1,580 shares of the company’s stock worth $139,000 after buying an additional 200 shares in the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

Hasbro Company Profile

Hasbro, Inc is a global branded entertainment company that develops and markets toys, games, entertainment experiences and consumer products. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Transformers, Nerf, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through a range of channels, including retail, e-commerce, digital gaming, entertainment content and licensing. Hasbro also works with third-party partners to extend its brands into film and television, apparel, publishing and other consumer products.