Hasbro (NASDAQ:HAS) Shares Gap Up – Here’s What Happened

Hasbro, Inc. (NASDAQ:HAS) shares gapped up prior to trading on Friday . The stock had previously closed at $63.89, but opened at $66.00. Hasbro shares last traded at $65.65, with a volume of 234,684 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. 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 research note on Friday, October 25th. Bank of America raised their price target on shares of Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price objective on Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Hasbro presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Hasbro Stock Performance

The company has a market cap of $9.05 billion, a price-to-earnings ratio of -14.15, a price-to-earnings-growth ratio of 0.59 and a beta of 0.63. The firm has a 50-day simple moving average of $67.89 and a 200 day simple moving average of $64.39. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64.

Hasbro (NASDAQ:HAS) last announced its earnings results on Thursday, October 24th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.45. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Hasbro had a negative net margin of 14.83% and a positive return on equity of 47.91%. The business’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. On average, sell-side analysts predict that Hasbro, Inc. will post 3.93 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.80 annualized dividend and a dividend yield of 4.32%. Hasbro’s payout ratio is currently -60.34%.

Institutional Trading of Hasbro

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Hasbro by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,858,541 shares of the company’s stock worth $108,723,000 after buying an additional 135,548 shares during the last quarter. Samlyn Capital LLC raised its position in Hasbro by 87.4% during the second quarter. Samlyn Capital LLC now owns 1,833,374 shares of the company’s stock worth $107,252,000 after acquiring an additional 855,099 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Hasbro by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,184,036 shares of the company’s stock worth $85,629,000 after acquiring an additional 8,270 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Hasbro by 9,806.9% in the third 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Hasbro by 13.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 804,888 shares of the company’s stock valued at $58,210,000 after purchasing an additional 97,039 shares during the last quarter. 91.83% of the stock is currently 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.