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

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HAS shares. Wall Street Zen upgraded Hasbro from a “hold” rating to a “buy” rating in a research report on Saturday. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $127.00 target price (up from $116.00) on shares of Hasbro in a research report on Wednesday, October 21st. The Goldman Sachs Group decreased their price target 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. Argus boosted their price target on shares of Hasbro from $90.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, Roth Capital restated a “buy” rating on shares of Hasbro in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Hasbro has a consensus rating of “Moderate Buy” and a consensus target price of $114.93.

Hasbro Stock Performance

The stock has a 50-day moving average of $97.32 and a 200 day moving average of $92.68. 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.

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

Hasbro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, November 18th. Hasbro’s payout ratio is presently 41.85%.

Insider Activity at Hasbro

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

Hedge Funds Weigh In On Hasbro

A number of institutional investors have recently added to or reduced their stakes in HAS. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Hasbro during the third quarter valued at about $27,000. Community Bank N.A. acquired a new position in shares of Hasbro in the second quarter valued at approximately $26,000. Retirement Wealth Solutions LLC increased its stake in shares of Hasbro by 1,741.2% in 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 period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Hasbro by 1,190.0% in the 2nd 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 last quarter. Finally, Cedar Mountain Advisors LLC bought a new position in Hasbro in the 1st quarter valued at approximately $37,000. 91.83% of the stock is currently 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.