Hasbro (NASDAQ:HAS) Sees Large Volume Increase - What's Next?

Key Points

• Hasbro experienced a significant trading volume increase of 38%, with 2.72 million shares exchanged on Wednesday.
• Analysts have raised their price targets for Hasbro, with Citigroup setting a new target of $91.00 and ten analysts currently rating the stock as a "Buy."
• Hasbro reported a quarterly earnings per share (EPS) of $1.30, significantly surpassing estimates of $0.78, although revenue fell 1.5% year-over-year.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) shares saw strong trading volume on Wednesday . 2,720,739 shares were traded during trading, an increase of 38% from the previous session's volume of 1,974,608 shares.The stock last traded at $75.78 and had previously closed at $75.85.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HAS shares. Citigroup raised their price objective on shares of Hasbro from $79.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. DA Davidson upped their price target on Hasbro from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Monness Crespi & Hardt lifted their price objective on shares of Hasbro from $80.00 to $90.00 in a research note on Wednesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of Hasbro from $75.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley increased their target price on shares of Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $87.64.

Hasbro Price Performance

The company has a current ratio of 1.66, a quick ratio of 1.32 and a debt-to-equity ratio of 12.31. The company has a 50 day simple moving average of $77.88 and a 200 day simple moving average of $69.40. The stock has a market cap of $10.49 billion, a P/E ratio of -18.41, a PEG ratio of 0.99 and a beta of 0.59.

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

Hasbro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a $0.70 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. Hasbro's dividend payout ratio (DPR) is presently -68.97%.

Insider Buying and Selling

In related news, insider Timothy J. Kilpin sold 8,557 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $81.44, for a total transaction of $696,882.08. Following the sale, the insider owned 44,301 shares in the company, valued at approximately $3,607,873.44. This represents a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christian P. Cocks sold 27,800 shares of the firm's stock in a transaction that occurred 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 approximately $19,719,030.12. This represents a 10.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,359 shares of company stock worth $2,970,828. Corporate insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CacheTech Inc. bought a new stake in Hasbro in the 2nd quarter valued at $517,000. Adams Wealth Management bought a new position in shares of Hasbro during the second quarter worth approximately $517,000. Osaic Holdings Inc. raised its holdings in Hasbro by 5.0% in the 2nd quarter. Osaic Holdings Inc. now owns 57,695 shares of the company's stock valued at $4,241,000 after acquiring an additional 2,762 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Hasbro by 1.7% in the second quarter. Thrivent Financial for Lutherans now owns 104,635 shares of the company's stock valued at $7,724,000 after purchasing an additional 1,726 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Hasbro by 41.1% during the second quarter. Neuberger Berman Group LLC now owns 18,596 shares of the company's stock worth $1,373,000 after buying an additional 5,415 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

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.

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