Hasbro (NASDAQ:HAS) PT Raised to $79.00 at Morgan Stanley

Hasbro (NASDAQ:HAS) had its price objective upped by Morgan Stanley from $78.00 to $79.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently commented on HAS. DA Davidson reissued a neutral rating and issued a $59.00 price target on shares of Hasbro in a research note on Friday. Monness Crespi & Hardt increased their price target on shares of Hasbro from $60.00 to $75.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Roth Mkm lifted their price objective on shares of Hasbro from $65.00 to $75.00 and gave the company a buy rating in a research note on Thursday, April 25th. Jefferies Financial Group increased their target price on shares of Hasbro from $61.00 to $63.00 and gave the stock a buy rating in a research report on Friday, April 19th. Finally, Bank of America upgraded Hasbro from a neutral rating to a buy rating and upped their price target for the stock from $70.00 to $80.00 in a research note on Friday, June 14th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $70.08.

Hasbro Price Performance

Shares of NASDAQ:HAS opened at $63.85 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 2.95. Hasbro has a 12-month low of $42.66 and a 12-month high of $73.57. The company’s fifty day moving average is $59.50 and its two-hundred day moving average is $55.93. The company has a market cap of $8.89 billion, a P/E ratio of -6.30, a price-to-earnings-growth ratio of 0.63 and a beta of 0.62.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.45. Hasbro had a negative net margin of 22.78% and a positive return on equity of 38.83%. The business had revenue of $995.30 million for the quarter, compared to the consensus estimate of $941.38 million. During the same period in the prior year, the business posted $0.49 earnings per share. Hasbro’s revenue for the quarter was down 17.7% compared to the same quarter last year. Equities analysts expect that Hasbro will post 3.75 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 21st. This represents a $2.80 annualized dividend and a dividend yield of 4.39%. Hasbro’s payout ratio is -27.61%.

Insider Activity at Hasbro

In related news, EVP Tarrant L. Sibley sold 13,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $60.26, for a total transaction of $783,380.00. Following the transaction, the executive vice president now directly owns 53,003 shares in the company, valued at $3,193,960.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hasbro

A number of institutional investors have recently bought and sold shares of HAS. Capital Research Global Investors lifted its holdings in shares of Hasbro by 27.0% during the 4th quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock worth $785,367,000 after acquiring an additional 3,273,563 shares during the period. Cooke & Bieler LP grew its stake in shares of Hasbro by 31.6% in the 4th quarter. Cooke & Bieler LP now owns 3,188,417 shares of the company’s stock valued at $162,801,000 after purchasing an additional 765,898 shares during the period. Swedbank AB acquired a new position in shares of Hasbro in the 1st quarter worth approximately $82,523,000. Dimensional Fund Advisors LP lifted its position in shares of Hasbro by 26.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,441,228 shares of the company’s stock worth $73,593,000 after buying an additional 300,420 shares during the period. Finally, Norges Bank acquired a new stake in Hasbro in the 4th quarter valued at $70,544,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Hasbro Company Profile

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.