JAKKS Pacific (NASDAQ:JAKK) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of JAKKS Pacific (NASDAQ:JAKK) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

JAKK has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of JAKKS Pacific in a research note on Friday, September 11th. Zacks Research raised shares of JAKKS Pacific from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Maxim Group increased their target price on JAKKS Pacific from $27.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.00.

JAKKS Pacific Stock Up 4.9%

Shares of NASDAQ:JAKK opened at $32.01 on Friday. The company has a market capitalization of $366.19 million, a P/E ratio of 18.06 and a beta of 1.32. JAKKS Pacific has a 52-week low of $14.86 and a 52-week high of $32.25. The stock’s fifty day simple moving average is $26.00 and its 200-day simple moving average is $22.67.

JAKKS Pacific (NASDAQ:JAKK) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.34. JAKKS Pacific had a return on equity of 8.18% and a net margin of 4.17%. The firm had revenue of $254.22 million during the quarter, compared to analysts’ expectations of $226.58 million. On average, sell-side analysts anticipate that JAKKS Pacific will post 1.38 earnings per share for the current year.

JAKKS Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, November 27th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, November 27th. JAKKS Pacific’s dividend payout ratio is 46.95%.

Institutional Trading of JAKKS Pacific

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in JAKKS Pacific by 543.6% in the first quarter. Royal Bank of Canada now owns 2,066 shares of the company’s stock valued at $41,000 after acquiring an additional 1,745 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in JAKKS Pacific by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,508 shares of the company’s stock valued at $249,000 after acquiring an additional 1,288 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in JAKKS Pacific by 43.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 16,500 shares of the company’s stock valued at $279,000 after acquiring an additional 5,000 shares during the last quarter. Sei Investments Co. boosted its stake in JAKKS Pacific by 34.4% during the 1st quarter. Sei Investments Co. now owns 17,960 shares of the company’s stock valued at $358,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of JAKKS Pacific by 63.4% during the first quarter. Quantinno Capital Management LP now owns 20,317 shares of the company’s stock worth $405,000 after purchasing an additional 7,885 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

About JAKKS Pacific

JAKKS Pacific, Inc is a toy and consumer products company that develops, designs, produces and markets toys, games, seasonal products and related merchandise. Its product portfolio includes action figures, dolls, roleplay toys, dress-up and costume products, plush items, outdoor and sports toys, games, and other products for children and families.

The company markets products under its own brands, including Maui, Disguise and Moose Mountain, as well as through licensing and strategic partnerships with entertainment and consumer brands.