Citigroup Issues Positive Forecast for Hasbro (NASDAQ:HAS) Stock Price

Hasbro (NASDAQ:HAS) had its price objective increased by Citigroup from $72.00 to $79.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on HAS. Roth Mkm upped their target price on shares of Hasbro from $68.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. DA Davidson reiterated a “neutral” rating and issued a $75.00 target price on shares of Hasbro in a research note on Thursday, May 15th. Morgan Stanley upped their target price on shares of Hasbro from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 29th. Wall Street Zen upgraded shares of Hasbro from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Monness Crespi & Hardt raised shares of Hasbro to a “strong-buy” rating in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Hasbro currently has an average rating of “Buy” and a consensus price target of $81.25.

Hasbro Stock Performance

Shares of HAS stock opened at $69.77 on Monday. The firm has a market capitalization of $9.78 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.56. The firm has a fifty day simple moving average of $62.14 and a two-hundred day simple moving average of $60.81. The company has a current ratio of 1.60, a quick ratio of 1.29 and a debt-to-equity ratio of 2.85. Hasbro has a 12 month low of $49.00 and a 12 month high of $73.46.

Hasbro (NASDAQ:HAS) last posted its earnings results on Thursday, April 24th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.37. Hasbro had a net margin of 9.32% and a return on equity of 47.93%. The firm had revenue of $887.10 million during the quarter, compared to analyst estimates of $770.60 million. During the same quarter in the prior year, the business posted $0.61 EPS. The business’s revenue was up 17.1% compared to the same quarter last year. Analysts forecast that Hasbro will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend was Wednesday, May 21st. Hasbro’s dividend payout ratio (DPR) is currently 92.41%.

Hedge Funds Weigh In On Hasbro

A number of hedge funds and other institutional investors have recently made changes to their positions in HAS. Vanguard Group Inc. lifted its holdings in Hasbro by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,464,038 shares of the company’s stock valued at $1,012,374,000 after purchasing an additional 105,624 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Hasbro by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,371,002 shares of the company’s stock valued at $188,269,000 after purchasing an additional 59,794 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Hasbro by 313.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,200,860 shares of the company’s stock valued at $178,960,000 after purchasing an additional 2,427,299 shares during the last quarter. Invesco Ltd. lifted its holdings in Hasbro by 28.5% during the fourth quarter. Invesco Ltd. now owns 3,159,524 shares of the company’s stock valued at $176,649,000 after purchasing an additional 701,660 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Hasbro by 23.7% during the fourth quarter. Marshall Wace LLP now owns 2,643,381 shares of the company’s stock valued at $147,791,000 after purchasing an additional 507,054 shares during the last quarter. 91.83% of the stock is owned by hedge funds and other institutional investors.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.