JAKKS Pacific (NASDAQ:JAKK) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of JAKKS Pacific (NASDAQ:JAKK) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

A number of other brokerages have also recently issued reports on JAKK. Zacks Research raised JAKKS Pacific from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings raised JAKKS Pacific from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, JAKKS Pacific presently has an average rating of “Hold”.

JAKKS Pacific Stock Performance

Shares of JAKKS Pacific stock opened at $25.47 on Friday. The firm has a market cap of $291.38 million, a P/E ratio of 18.32 and a beta of 1.41. The firm’s 50-day simple moving average is $23.90 and its 200-day simple moving average is $21.90. JAKKS Pacific has a twelve month low of $14.86 and a twelve month high of $27.22.

JAKKS Pacific (NASDAQ:JAKK) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.31. The firm had revenue of $139.24 million during the quarter, compared to analyst estimates of $123.01 million. JAKKS Pacific had a net margin of 2.77% and a return on equity of 4.33%. On average, equities analysts forecast that JAKKS Pacific will post 1.53 earnings per share for the current fiscal year.

JAKKS Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Friday, August 28th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. JAKKS Pacific’s dividend payout ratio (DPR) is 71.94%.

Hedge Funds Weigh In On JAKKS Pacific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JAKK. Donald Smith & CO. Inc. acquired a new stake in shares of JAKKS Pacific during the second quarter worth approximately $4,784,000. Bank of New York Mellon Corp acquired a new position in shares of JAKKS Pacific in the 2nd quarter worth approximately $988,000. Bank of America Corp DE boosted its holdings in shares of JAKKS Pacific by 1.3% in the 1st quarter. Bank of America Corp DE now owns 37,962 shares of the company’s stock worth $756,000 after acquiring an additional 494 shares in the last quarter. Royal Bank of Canada grew its position in JAKKS Pacific by 543.6% during the 1st quarter. Royal Bank of Canada now owns 2,066 shares of the company’s stock worth $41,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Empowered Funds LLC grew its position in JAKKS Pacific by 9.5% during the 1st quarter. Empowered Funds LLC now owns 64,318 shares of the company’s stock worth $1,281,000 after acquiring an additional 5,577 shares during the last quarter. 44.38% of the stock is currently owned by institutional investors and hedge funds.

About JAKKS Pacific

JAKKS Pacific, Inc (NASDAQ: JAKK) is a Los Angeles–based company that designs, develops and markets a broad range of toys and consumer products. Since its founding in 1995 by industry veteran Jack Friedman, the company has built a diversified portfolio spanning three primary segments: Toys, Consumer Electronics & Seasonal, and Kids Furniture & Accessories. JAKKS Pacific specializes in both licensed and proprietary brands, collaborating with major entertainment and sports licensors to bring popular characters and franchises to market.

The company’s Toys segment includes action figures, dolls, role-play items, collectible toys and outdoor activity products.