Hasbro (NASDAQ:HAS) Trading Down 5.1% After Analyst Downgrade

Key Points

• Shares fell 5.1% after BNP Paribas Exane trimmed its price target to $115 while keeping an outperform rating; Hasbro last traded around $88.83 with volume about 48% below average.
• Hasbro beat quarterly expectations with EPS $1.51 vs. $0.99 and revenue $1.45B (+31.3% YoY), and analysts still show a “Moderate Buy” consensus with an average target of $112.86.
• Significant insider selling occurred recently: the CEO sold 196,411 shares (~$19.7M), insiders sold 413,342 shares last quarter, and insiders now own just 0.85% of the stock.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) shares dropped 5.1% during trading on Wednesday after BNP Paribas Exane lowered their price target on the stock from $118.00 to $115.00. BNP Paribas Exane currently has an outperform rating on the stock. Hasbro traded as low as $89.44 and last traded at $88.8270. Approximately 979,700 shares traded hands during trading, a decline of 48% from the average daily volume of 1,872,153 shares. The stock had previously closed at $93.60.

Several other analysts have also recently issued reports on HAS. Wolfe Research increased their target price on Hasbro from $90.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Citigroup upped their price objective on Hasbro from $97.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. The Goldman Sachs Group raised their price objective on Hasbro from $88.00 to $114.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. DA Davidson boosted their target price on shares of Hasbro from $80.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, February 11th. Finally, Argus set a $105.00 price objective on shares of Hasbro in a research report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $112.86.

Insiders Place Their Bets

In other news, CEO Christian P. Cocks sold 196,411 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $100.33, for a total transaction of $19,705,915.63. Following the sale, the chief executive officer owned 303,310 shares in the company, valued at approximately $30,431,092.30. The trade was a 39.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gina M. Goetter sold 12,429 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $103.46, for a total transaction of $1,285,904.34. Following the transaction, the chief financial officer owned 68,221 shares in the company, valued at approximately $7,058,144.66. This trade represents a 15.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 413,342 shares of company stock valued at $42,241,679. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of Hasbro during the second quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Hasbro in the 4th quarter worth $27,000. MUFG Securities EMEA plc purchased a new position in Hasbro in the 2nd quarter worth $28,000. First Horizon Corp acquired a new stake in Hasbro during the 3rd quarter worth about $29,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new stake in Hasbro during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 91.83% of the company's stock.

Hasbro Trading Down 5.1%

The company has a 50 day simple moving average of $95.26 and a two-hundred day simple moving average of $84.87. The company has a debt-to-equity ratio of 4.89, a quick ratio of 1.24 and a current ratio of 1.38. The firm has a market cap of $12.49 billion, a PE ratio of -37.78 and a beta of 0.54.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.52. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.26 billion. Hasbro had a positive return on equity of 127.21% and a negative net margin of 6.86%.The company's revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Analysts expect that Hasbro, Inc. will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, February 18th. Hasbro's payout ratio is presently -119.15%.

Hasbro Company Profile

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.

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