Hasbro (NASDAQ:HAS) Announces Quarterly Earnings Results

Hasbro (NASDAQ:HAS) released its quarterly earnings data on Wednesday. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.09 by $0.30, FiscalAI reports. Hasbro had a positive return on equity of 127.21% and a negative net margin of 6.86%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $964.39 million.

Hasbro Stock Down 0.5%

Shares of NASDAQ HAS traded down $0.49 during mid-day trading on Wednesday, reaching $94.01. 1,236,652 shares of the company were exchanged, compared to its average volume of 1,808,065. The company has a quick ratio of 1.24, a current ratio of 1.38 and a debt-to-equity ratio of 4.89. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of -40.00, a P/E/G ratio of 2.79 and a beta of 0.52. Hasbro has a 1 year low of $64.74 and a 1 year high of $106.98. The firm has a 50-day moving average of $93.53 and a 200 day moving average of $88.73.

Insider Buying and Selling

In other news, CFO Gina M. Goetter sold 12,429 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $103.46, for a total value of $1,285,904.34. Following the sale, the chief financial officer directly owned 68,221 shares in the company, valued at approximately $7,058,144.66. This trade represents a 15.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy J. Kilpin sold 7,773 shares of Hasbro stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $103.00, for a total transaction of $800,619.00. Following the completion of the transaction, the insider directly owned 36,528 shares in the company, valued at approximately $3,762,384. The trade was a 17.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 413,342 shares of company stock worth $42,241,679 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hasbro

Institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in Hasbro by 2.1% in the second quarter. State Street Corp now owns 6,508,052 shares of the company’s stock worth $480,424,000 after purchasing an additional 131,678 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Hasbro by 47.3% in the 4th quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after purchasing an additional 1,399,499 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Hasbro by 21.9% in the 3rd quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock worth $275,579,000 after purchasing an additional 651,790 shares in the last quarter. Deutsche Bank AG grew its stake in Hasbro by 45.7% during the 4th quarter. Deutsche Bank AG now owns 1,583,182 shares of the company’s stock worth $129,821,000 after buying an additional 496,337 shares during the last quarter. Finally, Samlyn Capital LLC grew its stake in Hasbro by 18.9% during the 3rd quarter. Samlyn Capital LLC now owns 1,546,304 shares of the company’s stock worth $117,287,000 after buying an additional 245,721 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HAS shares. Wolfe Research raised their price target on Hasbro from $90.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Citigroup upped their price objective on shares of Hasbro from $97.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. UBS Group increased their target price on shares of Hasbro from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Weiss Ratings downgraded shares of Hasbro from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company assumed coverage on shares of Hasbro in a research report on Wednesday, March 11th. They issued an “equal weight” rating and a $98.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.07.

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.