Hasbro (NASDAQ:HAS) Price Target Raised to $122.00

Hasbro (NASDAQ:HAS) had its price target increased by analysts at Morgan Stanley from $119.00 to $122.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 26.16% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Roth Mkm set a $120.00 price target on shares of Hasbro in a research note on Wednesday, February 11th. UBS Group raised their price target on shares of Hasbro from $99.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. DA Davidson lifted their price objective on shares of Hasbro from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Argus set a $105.00 price objective on shares of Hasbro in a research note on Friday, March 13th. Finally, Wall Street Zen upgraded shares of Hasbro from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.79.

Hasbro Stock Performance

Hasbro stock traded up $0.13 during midday trading on Thursday, reaching $96.71. 81,872 shares of the stock traded hands, compared to its average volume of 1,892,917. The company has a current ratio of 1.38, a quick ratio of 1.24 and a debt-to-equity ratio of 4.89. The firm has a fifty day moving average price of $94.76 and a two-hundred day moving average price of $86.77. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of -41.15 and a beta of 0.55. Hasbro has a fifty-two week low of $59.85 and a fifty-two week high of $106.98.

Hasbro (NASDAQ:HAS) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $0.99 by $0.52. Hasbro had a negative net margin of 6.86% and a positive return on equity of 127.21%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $0.46 earnings per share. Hasbro’s revenue was up 31.3% compared to the same quarter last year. On average, equities research analysts forecast that Hasbro will post 5.66 earnings per share for the current year.

Insider Activity at Hasbro

In related news, EVP Tarrant L. Sibley sold 15,148 shares of Hasbro stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $104.98, for a total transaction of $1,590,237.04. Following the transaction, the executive vice president directly owned 50,174 shares of the company’s stock, valued at $5,267,266.52. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christian P. Cocks sold 196,411 shares of Hasbro stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $100.33, for a total value of $19,705,915.63. Following the transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 413,342 shares of company stock valued at $42,241,679 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Hasbro by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 16,976,679 shares of the company’s stock worth $1,392,088,000 after acquiring an additional 453,038 shares during the period. State Street Corp grew its holdings in Hasbro by 2.1% during the second quarter. State Street Corp now owns 6,508,052 shares of the company’s stock worth $480,424,000 after acquiring an additional 131,678 shares during the period. AQR Capital Management LLC grew its holdings in Hasbro by 47.3% during the fourth quarter. AQR Capital Management LLC now owns 4,357,147 shares of the company’s stock worth $357,286,000 after acquiring an additional 1,399,499 shares during the period. Geode Capital Management LLC grew its holdings in Hasbro by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,661,020 shares of the company’s stock worth $299,700,000 after acquiring an additional 122,592 shares during the period. Finally, Bank of America Corp DE grew its holdings in Hasbro by 21.9% during the third quarter. Bank of America Corp DE now owns 3,633,213 shares of the company’s stock worth $275,579,000 after acquiring an additional 651,790 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.

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.