Hasbro (NASDAQ:HAS) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Hasbro (NASDAQ:HAS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities research analysts also recently issued research reports about the stock. DA Davidson lowered their target price on shares of Hasbro from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Wednesday, July 22nd. BNP Paribas Exane reduced their price target on shares of Hasbro from $117.00 to $114.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Bank of America decreased their price target on shares of Hasbro from $115.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, July 16th. JPMorgan Chase & Co. lowered their price objective on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Citigroup restated a “buy” rating on shares of Hasbro in a research report on Thursday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Hasbro currently has a consensus rating of “Moderate Buy” and an average price target of $109.07.

Hasbro Price Performance

Hasbro stock opened at $91.47 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. The firm has a market capitalization of $12.94 billion, a P/E ratio of 16.45, a PEG ratio of 1.72 and a beta of 0.47. The business has a 50-day moving average of $84.54 and a 200-day moving average of $90.67. Hasbro has a 1 year low of $69.50 and a 1 year high of $106.98.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company posted $1.30 EPS. Hasbro’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities analysts anticipate that Hasbro will post 6.13 EPS for the current year.

Hasbro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Hasbro’s dividend payout ratio (DPR) is currently 50.36%.

Insider Buying and Selling at Hasbro

In other news, insider John Hight sold 3,186 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $93.71, for a total transaction of $298,560.06. Following the completion of the transaction, the insider directly owned 67,557 shares of the company’s stock, valued at $6,330,766.47. This trade represents a 4.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the sale, the insider owned 54,229 shares in the company, valued at $5,049,804.48. This trade represents a 26.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 42,451 shares of company stock worth $3,987,379. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. acquired a new stake in Hasbro in the 4th quarter valued at $27,000. CYBER HORNET ETFs LLC acquired a new position in shares of Hasbro during the 2nd quarter worth about $25,000. MUFG Securities EMEA plc bought a new position in shares of Hasbro in the 2nd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of 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 acquiring an additional 357 shares in the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of Hasbro in the first quarter valued at about $37,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

About Hasbro

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.