Hasbro, Inc. (NASDAQ:HAS) Sees Significant Increase in Short Interest

Hasbro, Inc. (NASDAQ:HAS) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 4,270,000 shares, an increase of 22.7% from the October 15th total of 3,480,000 shares. Based on an average daily volume of 1,260,000 shares, the short-interest ratio is presently 3.4 days. Approximately 3.3% of the company’s stock are sold short.

Hasbro Stock Performance

HAS traded down $0.85 during trading on Friday, hitting $62.21. 1,168,618 shares of the company traded hands, compared to its average volume of 1,617,096. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64. The firm has a market cap of $8.68 billion, a P/E ratio of -13.41, a price-to-earnings-growth ratio of 0.58 and a beta of 0.63. Hasbro has a one year low of $43.74 and a one year high of $73.46. The stock’s fifty day moving average is $69.01 and its 200 day moving average is $64.29.

Hasbro (NASDAQ:HAS) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.45. Hasbro had a negative net margin of 14.83% and a positive return on equity of 47.91%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. Hasbro’s revenue was down 14.8% on a year-over-year basis. As a group, equities analysts predict that Hasbro will post 3.94 EPS for the current fiscal year.

Hasbro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.50%. Hasbro’s dividend payout ratio is presently -60.34%.

Institutional Investors Weigh In On Hasbro

Several large investors have recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Hasbro during the 1st quarter valued at $82,523,000. Mizuho Securities USA LLC raised its stake in shares of Hasbro by 9,806.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,000,000 shares of the company’s stock valued at $72,320,000 after purchasing an additional 989,906 shares during the period. Samlyn Capital LLC lifted its holdings in Hasbro by 87.4% during the 2nd quarter. Samlyn Capital LLC now owns 1,833,374 shares of the company’s stock worth $107,252,000 after purchasing an additional 855,099 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Hasbro by 469.4% during the 2nd quarter. AQR Capital Management LLC now owns 686,144 shares of the company’s stock worth $40,037,000 after purchasing an additional 565,645 shares in the last quarter. Finally, Smith Group Asset Management LLC bought a new position in Hasbro in the 3rd quarter worth about $32,032,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group lifted their price target on shares of Hasbro from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of Hasbro from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, DA Davidson increased their price target on Hasbro from $59.00 to $73.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Hasbro has an average rating of “Moderate Buy” and a consensus price target of $80.67.

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.