Hasbro (NASDAQ:HAS) Sets New 52-Week High - Here's Why

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $81.83 and last traded at $81.51, with a volume of 1351730 shares trading hands. The stock had previously closed at $81.14.

Analyst Ratings Changes

Several brokerages have recently issued reports on HAS. Citigroup increased their price objective on Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Monness Crespi & Hardt raised their price target on Hasbro from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Roth Capital raised their price target on Hasbro from $86.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Bank of America raised their price objective on Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, DA Davidson raised their price objective on Hasbro from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Hasbro currently has an average rating of "Moderate Buy" and an average price target of $86.42.

Hasbro Price Performance

The stock has a fifty day simple moving average of $75.93 and a two-hundred day simple moving average of $66.54. The company has a market cap of $11.48 billion, a PE ratio of -20.16, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60. The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.52. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.The company had revenue of $980.80 million for the quarter, compared to analyst estimates of $891.82 million. During the same quarter in the previous year, the company earned $1.22 EPS. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts predict that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, August 20th. Hasbro's payout ratio is currently -68.97%.

Insider Activity at Hasbro

In other Hasbro news, insider Roberta K. Thomson sold 1,002 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $79.81, for a total value of $79,969.62. Following the completion of the transaction, the insider directly owned 51,301 shares in the company, valued at approximately $4,094,332.81. The trade was a 1.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christian P. Cocks sold 27,800 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $78.92, for a total value of $2,193,976.00. Following the completion of the transaction, the chief executive officer owned 249,861 shares of the company's stock, valued at $19,719,030.12. This trade represents a 10.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.85% of the company's stock.

Institutional Trading of Hasbro

A number of institutional investors have recently added to or reduced their stakes in HAS. Parvin Asset Management LLC bought a new position in shares of Hasbro during the fourth quarter worth about $25,000. CYBER HORNET ETFs LLC acquired a new position in Hasbro in the second quarter worth about $25,000. Sentry Investment Management LLC acquired a new stake in Hasbro during the first quarter worth about $28,000. MUFG Securities EMEA plc acquired a new stake in Hasbro during the second quarter worth about $28,000. Finally, SBI Securities Co. Ltd. raised its stake in Hasbro by 130.0% during the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock worth $29,000 after acquiring an additional 269 shares during the period. 91.83% of the stock is owned by hedge funds and other institutional investors.

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.