The Goldman Sachs Group Cuts Hasbro (NASDAQ:HAS) Price Target to $115.00

Hasbro (NASDAQ:HAS) had its price target decreased by The Goldman Sachs Group from $117.00 to $115.00 in a research note issued to investors on Monday. The Goldman Sachs Group currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. UBS Group reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Hasbro in a research note on Monday, July 27th. DA Davidson lowered their target price on Hasbro from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Wednesday, July 22nd. Citigroup restated a “buy” rating on shares of Hasbro in a research report on Thursday, July 23rd. Argus upped their price target on shares of Hasbro from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.50.

Hasbro Stock Up 0.8%

HAS opened at $87.22 on Monday. The firm has a 50-day simple moving average of $91.66 and a two-hundred day simple moving average of $89.94. Hasbro has a 52 week low of $69.50 and a 52 week high of $106.98. The company has a market capitalization of $12.30 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.50 and a beta of 0.47. The company has a quick ratio of 1.46, a current ratio of 1.66 and a debt-to-equity ratio of 4.16.

Hasbro (NASDAQ:HAS) last issued its earnings results on Tuesday, July 21st. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business’s revenue was up 16.2% compared to the same quarter last year. Analysts forecast that Hasbro will post 6.16 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued 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, August 19th. Hasbro’s dividend payout ratio is presently 50.36%.

Insider Buying and Selling

In other news, CFO Gina M. Goetter sold 8,265 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $93.96, for a total value of $776,579.40. Following the sale, the chief financial officer owned 79,839 shares of the company’s stock, valued at approximately $7,501,672.44. This represents a 9.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy J. Kilpin sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the completion of the sale, the insider owned 54,229 shares of the company’s stock, valued at $5,049,804.48. This trade represents a 26.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 50,472 shares of company stock valued at $4,736,533 over the last 90 days. 0.71% of the stock is currently owned by insiders.

Institutional Trading of Hasbro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Community Bank N.A. bought a new stake in Hasbro in the second quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Hasbro by 1,190.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 357 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of Hasbro in the first quarter worth approximately $37,000. First Bancorp Inc ME purchased a new stake in shares of Hasbro in the second quarter worth approximately $37,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Hasbro during the 1st quarter worth approximately $39,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

About Hasbro

Hasbro, Inc is a global play and entertainment company that develops, markets and licenses toys, games and related entertainment experiences. Its portfolio includes well-known brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Magic: The Gathering and Dungeons & Dragons. The company serves consumers through retail, e-commerce, digital gaming, licensing and entertainment channels.

Hasbro’s business includes consumer products, tabletop and digital gaming, and brand licensing.