Hasbro’s (HAS) Neutral Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Hasbro (NASDAQ:HAS) in a research note published on Friday, Benzinga reports. DA Davidson currently has a $59.00 price objective on the stock. DA Davidson also issued estimates for Hasbro’s Q3 2024 earnings at $1.39 EPS.

Several other research firms also recently issued reports on HAS. Stifel Nicolaus upped their price objective on shares of Hasbro from $64.00 to $67.00 and gave the stock a buy rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised Hasbro from a neutral rating to an overweight rating and raised their price target for the company from $61.00 to $74.00 in a research report on Thursday, May 23rd. Roth Mkm boosted their price objective on Hasbro from $65.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Jefferies Financial Group increased their target price on Hasbro from $61.00 to $63.00 and gave the company a buy rating in a research note on Friday, April 19th. Finally, UBS Group lifted their price target on Hasbro from $68.00 to $69.00 and gave the stock a buy rating in a research report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $70.08.

Hasbro Stock Performance

HAS stock opened at $63.85 on Friday. Hasbro has a 12 month low of $42.66 and a 12 month high of $73.57. The firm has a 50 day moving average of $59.50 and a two-hundred day moving average of $55.93. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of -6.30, a P/E/G ratio of 0.63 and a beta of 0.62.

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

Hasbro Announces Dividend

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

Insider Activity at Hasbro

In other Hasbro 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 value of $783,380.00. Following the completion of the transaction, the executive vice president now directly owns 53,003 shares of the company’s stock, valued at $3,193,960.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HAS. Capital Research Global Investors boosted its stake in Hasbro by 27.0% in the 4th quarter. Capital Research Global Investors now owns 15,381,255 shares of the company’s stock worth $785,367,000 after purchasing an additional 3,273,563 shares during the period. Cooke & Bieler LP raised its position in 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 buying an additional 765,898 shares during the last quarter. Swedbank AB bought a new stake in Hasbro in the 1st quarter valued at approximately $82,523,000. Dimensional Fund Advisors LP boosted its position in 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 acquiring an additional 300,420 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Hasbro in the fourth quarter valued at approximately $70,544,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

About Hasbro

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.