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

Shares of Hasbro, Inc. (NASDAQ:HAS) hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $118.35 and last traded at $118.7590, with a volume of 83,307 shares traded. The stock had previously closed at $117.44.

Analyst Upgrades and Downgrades

HAS has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Roth Capital reiterated a “buy” rating on shares of Hasbro in a report on Wednesday. DA Davidson dropped their price target on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of Hasbro from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Bank of America decreased their price target on Hasbro from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

Hasbro Stock Up 0.5%

The company has a market cap of $16.65 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.52 and a beta of 0.45. The stock has a 50-day moving average of $93.87 and a two-hundred day moving average of $90.58. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.24 and a current ratio of 1.40.

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

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, November 18th. Hasbro’s payout ratio is currently 41.85%.

Insider Buying and Selling

In related news, insider Timothy Kilpin sold 20,000 shares of Hasbro stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total value of $1,862,400.00. Following the sale, the insider owned 54,229 shares in the company, valued at $5,049,804.48. The trade was a 26.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gina Goetter sold 8,265 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $93.96, for a total transaction of $776,579.40. Following the completion of the transaction, the chief financial officer directly owned 79,839 shares of the company’s stock, valued at approximately $7,501,672.44. The trade was a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,472 shares of company stock valued at $4,736,533 over the last three months. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Community Bank N.A. purchased a new stake in shares of Hasbro in the 2nd quarter worth $26,000. Retirement Wealth Solutions LLC grew its stake in shares of Hasbro by 1,741.2% during the third quarter. Retirement Wealth Solutions LLC now owns 313 shares of the company’s stock valued at $27,000 after buying an additional 296 shares during the last quarter. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Hasbro in the third quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 valued at $32,000 after buying an additional 357 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new position in shares of Hasbro during the first quarter worth $37,000. Institutional investors own 91.83% of the company’s stock.

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.