Hasbro (NASDAQ:HAS) Shares Down 5.1% After Analyst Downgrade

Hasbro, Inc. (NASDAQ:HAS)’s stock price dropped 5.1% on Wednesday after BNP Paribas Exane lowered their price target on the stock from $118.00 to $115.00. BNP Paribas Exane currently has an outperform rating on the stock. Hasbro traded as low as $89.44 and last traded at $88.8270. Approximately 979,700 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 1,872,153 shares. The stock had previously closed at $93.60.

Other equities research analysts also recently issued reports about the company. Argus set a $105.00 price target on Hasbro in a research report on Friday, March 13th. Wall Street Zen raised Hasbro from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 15th. Wells Fargo & Company started coverage on Hasbro in a report on Wednesday, March 11th. They set an “equal weight” rating and a $98.00 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Hasbro in a research report on Monday, December 29th. Finally, The Goldman Sachs Group boosted their price target on Hasbro from $88.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $112.86.

Insiders Place Their Bets

In related news, CEO Christian P. Cocks sold 196,411 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $100.33, for a total value of $19,705,915.63. Following the completion of the transaction, the chief executive officer owned 303,310 shares of the company’s stock, valued at approximately $30,431,092.30. This represents a 39.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy J. Kilpin sold 7,773 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $103.00, for a total value of $800,619.00. Following the completion of the sale, the insider directly owned 36,528 shares in the company, valued at approximately $3,762,384. The trade was a 17.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 413,342 shares of company stock worth $42,241,679. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hasbro

A number of large investors have recently added to or reduced their stakes in HAS. Huntington National Bank grew its position in shares of Hasbro by 10.2% in the fourth quarter. Huntington National Bank now owns 1,233 shares of the company’s stock valued at $101,000 after purchasing an additional 114 shares during the period. Personal CFO Solutions LLC raised its position in shares of Hasbro by 3.9% during the 4th quarter. Personal CFO Solutions LLC now owns 3,666 shares of the company’s stock worth $301,000 after purchasing an additional 137 shares during the last quarter. Signaturefd LLC raised its position in shares of Hasbro by 6.4% during the 4th quarter. Signaturefd LLC now owns 2,268 shares of the company’s stock worth $186,000 after purchasing an additional 137 shares during the last quarter. United Capital Financial Advisors LLC lifted its stake in Hasbro by 2.2% in the 3rd quarter. United Capital Financial Advisors LLC now owns 6,500 shares of the company’s stock valued at $493,000 after buying an additional 139 shares in the last quarter. Finally, Clarius Group LLC boosted its holdings in Hasbro by 0.6% in the 3rd quarter. Clarius Group LLC now owns 23,283 shares of the company’s stock worth $1,766,000 after buying an additional 146 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Hasbro Trading Down 5.1%

The company has a fifty day moving average of $95.26 and a 200-day moving average of $84.87. The company has a current ratio of 1.38, a quick ratio of 1.24 and a debt-to-equity ratio of 4.89. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of -37.78 and a beta of 0.54.

Hasbro (NASDAQ:HAS) last announced its earnings results on Tuesday, February 10th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.52. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Hasbro had a positive return on equity of 127.21% and a negative net margin of 6.86%.The business’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, equities research analysts anticipate that Hasbro, Inc. will post 4.33 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th were issued a $0.70 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $2.80 dividend on an annualized basis and a yield of 3.2%. Hasbro’s dividend payout ratio (DPR) is presently -119.15%.

About Hasbro

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.