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

Key Points

• Hasbro shares reached a new 52-week high, trading as high as $118.35 and up about 0.5%, giving the company a market capitalization of roughly $16.65 billion.
• The latest quarterly results exceeded expectations: Hasbro reported $2.90 in EPS versus the $1.86 consensus, while revenue rose 15% year over year to $1.60 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $114.07; Hasbro also declared a quarterly dividend of $0.70 per share, yielding approximately 2.4% annually.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday. The company traded as high as $118.35 and last traded at $118.7590, with a volume of 83,307 shares traded. The stock had previously closed at $117.44.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HAS. Wells Fargo & Company lifted their target price on shares of Hasbro from $90.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday. Wall Street Zen downgraded shares of Hasbro from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Zacks Research raised shares of Hasbro from a "hold" rating to a "strong-buy" rating in a research report on Thursday. The Goldman Sachs Group dropped their price objective on shares of Hasbro from $117.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, September 21st. Finally, Roth Capital reaffirmed a "buy" rating on shares of Hasbro in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $114.07.

Hasbro Trading Up 0.5%

The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.52 and a beta of 0.45. The business's 50-day moving average price is $93.87 and its two-hundred day moving average price is $90.58. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.40 and a quick ratio of 1.24.

Hasbro (NASDAQ:HAS - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $1.04. Hasbro had a net margin of 18.44% and a return on equity of 140.60%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The business's quarterly revenue was up 15.0% compared to the same quarter last year. Equities analysts expect that Hasbro, Inc. will post 6.69 earnings per share for the current year.

Hasbro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.80 annualized dividend and a dividend yield of 2.4%. Hasbro's payout ratio is currently 41.85%.

Insider Activity

In other Hasbro news, insider Holly Barbacovi sold 5,057 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.20, for a total value of $476,369.40. Following the transaction, the insider owned 37,486 shares in the company, valued at approximately $3,531,181.20. This represents a 11.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy Kilpin sold 20,000 shares of Hasbro stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $93.12, for a total value of $1,862,400.00. Following the sale, the insider owned 54,229 shares of the company's stock, valued at approximately $5,049,804.48. This represents a 26.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 50,472 shares of company stock worth $4,736,533. Corporate insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On Hasbro

Several hedge funds and other institutional investors have recently modified their holdings of HAS. Apollon Wealth Management LLC increased its holdings in shares of Hasbro by 17.5% in the third quarter. Apollon Wealth Management LLC now owns 5,981 shares of the company's stock valued at $524,000 after purchasing an additional 889 shares in the last quarter. IRON Financial LLC acquired a new position in shares of Hasbro in the third quarter valued at approximately $250,000. Citizens Financial Group Inc. RI acquired a new position in shares of Hasbro during the third quarter worth about $216,000. Carolina Wealth Advisors LLC boosted its holdings in Hasbro by 1.2% during the third quarter. Carolina Wealth Advisors LLC now owns 31,610 shares of the company's stock worth $2,772,000 after purchasing an additional 389 shares during the last quarter. Finally, Tectonic Advisors LLC raised its stake in shares of Hasbro by 5.0% during the 3rd quarter. Tectonic Advisors LLC now owns 172,379 shares of the company's stock worth $15,114,000 after purchasing an additional 8,239 shares in the last quarter. Institutional investors own 91.83% of the company's stock.

About Hasbro

Hasbro, Inc is a global branded entertainment company that develops and markets toys, games, entertainment experiences and consumer products. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Transformers, Nerf, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through a range of channels, including retail, e-commerce, digital gaming, entertainment content and licensing. Hasbro also works with third-party partners to extend its brands into film and television, apparel, publishing and other consumer products.

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