Hasbro (NASDAQ:HAS) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Hasbro (NASDAQ:HAS) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

HAS has been the topic of several other reports. Citigroup dropped their price target on Hasbro from $114.00 to $101.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Wells Fargo & Company decreased their price objective on Hasbro from $92.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 9th. Roth Capital lowered their target price on Hasbro from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday. Wall Street Zen downgraded Hasbro from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Finally, UBS Group reissued a “buy” rating and issued a $110.00 price target on shares of Hasbro in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hasbro presently has an average rating of “Moderate Buy” and an average price target of $110.79.

Hasbro Trading Down 1.4%

Hasbro stock opened at $78.42 on Monday. Hasbro has a 52 week low of $69.50 and a 52 week high of $106.98. The company has a debt-to-equity ratio of 4.59, a quick ratio of 1.49 and a current ratio of 1.65. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of -47.24, a P/E/G ratio of 1.94 and a beta of 0.49. The company has a 50 day moving average price of $85.97 and a 200 day moving average price of $90.27.

Hasbro (NASDAQ:HAS) last announced its earnings results on Wednesday, May 13th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.27. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 174.64%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS. Research analysts forecast that Hasbro will post 6.03 EPS for the current year.

Hasbro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Monday, June 1st were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, June 1st. Hasbro’s payout ratio is currently -168.67%.

Hedge Funds Weigh In On Hasbro

A number of hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its stake in Hasbro by 14.7% in the second quarter. Wedge Capital Management L L P NC now owns 414,717 shares of the company’s stock valued at $34,251,000 after acquiring an additional 53,212 shares during the last quarter. Tema ETFs LLC grew its position in Hasbro by 7.1% in the second quarter. Tema ETFs LLC now owns 2,183 shares of the company’s stock worth $180,000 after acquiring an additional 145 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Hasbro by 8.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 42,000 shares of the company’s stock worth $3,469,000 after purchasing an additional 3,200 shares during the last quarter. Salvus Wealth Management LLC increased its stake in shares of Hasbro by 14.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 5,297 shares of the company’s stock worth $437,000 after purchasing an additional 687 shares during the last quarter. Finally, Bay Rivers Group raised its holdings in shares of Hasbro by 29.2% during the 2nd quarter. Bay Rivers Group now owns 3,275 shares of the company’s stock valued at $270,000 after purchasing an additional 740 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

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.