Key Points
- Hasbro CEO Christian Cocks sold 196,411 shares on Feb. 26 at an average price of $100.33 for proceeds of about $19.71 million, leaving him with 303,310 shares — a 39.3% reduction in his stake.
- Strong quarterly results: Hasbro reported $1.51 EPS vs. a $0.99 consensus and revenue up 31.3% year-over-year, and several major banks raised price targets leading to a consensus target of $114.08 and an overall "Moderate Buy" rating.
- Dividend declared: The company announced a $0.70 quarterly dividend (annualized $2.80) with a 2.8% yield, payable March 4 to holders of record on Feb. 18.
Hasbro, Inc. (NASDAQ:HAS - Get Free Report) CEO Christian Cocks sold 196,411 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $100.33, for a total value of $19,705,915.63. Following the completion of the sale, the chief executive officer directly owned 303,310 shares of the company's stock, valued at $30,431,092.30. This represents a 39.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Hasbro Trading Down 0.5%
Shares of HAS stock opened at $99.05 on Tuesday. The firm has a market capitalization of $13.94 billion, a P/E ratio of -42.15, a price-to-earnings-growth ratio of 1.72 and a beta of 0.54. Hasbro, Inc. has a 1 year low of $49.00 and a 1 year high of $106.98. The firm's fifty day simple moving average is $91.67 and its 200 day simple moving average is $82.94. The company has a current ratio of 1.38, a quick ratio of 1.24 and a debt-to-equity ratio of 4.89.
Hasbro (NASDAQ:HAS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.52. Hasbro had a negative net margin of 6.86% and a positive return on equity of 127.21%. The firm's revenue for the quarter was up 31.3% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. As a group, sell-side analysts predict that Hasbro, Inc. will post 4.33 EPS for the current year.
Hasbro Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, February 18th. Hasbro's payout ratio is currently -119.15%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Hasbro from $88.00 to $114.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. DA Davidson lifted their price target on shares of Hasbro from $80.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 11th. JPMorgan Chase & Co. increased their price objective on shares of Hasbro from $94.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, February 11th. Morgan Stanley raised their price objective on shares of Hasbro from $103.00 to $119.00 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. Finally, BNP Paribas Exane began coverage on shares of Hasbro in a research note on Wednesday, February 25th. They issued an "outperform" rating and a $118.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $114.08.
View Our Latest Research Report on Hasbro
Institutional Investors Weigh In On Hasbro
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC acquired a new position in shares of Hasbro during the second quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Hasbro in the 4th quarter worth approximately $27,000. MUFG Securities EMEA plc bought a new position in Hasbro in the 2nd quarter worth approximately $28,000. First Horizon Corp acquired a new position in Hasbro during the 3rd quarter worth $29,000. Finally, Foster Dykema Cabot & Partners LLC bought a new position in Hasbro in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 91.83% of the company's stock.
Hasbro Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
