SunTrust Banks Raises Hasbro (NASDAQ:HAS) Price Target to $100.00

Hasbro (NASDAQ:HAS) had its target price raised by SunTrust Banks to $100.00 in a research report released on Wednesday, April 24th, The Fly reports. The brokerage currently has a hold rating on the stock. SunTrust Banks also issued estimates for Hasbro’s Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $2.15 EPS, Q4 2019 earnings at $1.60 EPS, FY2019 earnings at $4.45 EPS and FY2020 earnings at $5.00 EPS.

A number of other analysts also recently weighed in on the company. BidaskClub downgraded Hasbro from a sell rating to a strong sell rating in a research report on Friday, March 15th. ValuEngine downgraded Hasbro from a buy rating to a hold rating in a research report on Tuesday, February 5th. MKM Partners cut their target price on Hasbro to $102.00 and set a buy rating for the company in a research report on Friday, January 18th. KeyCorp set a $110.00 target price on Hasbro and gave the company a buy rating in a research report on Wednesday, February 20th. Finally, BMO Capital Markets cut their target price on Hasbro from $76.00 to $75.00 and set an underperform rating for the company in a research report on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $106.07.

Shares of NASDAQ HAS opened at $97.15 on Wednesday. The company has a current ratio of 2.77, a quick ratio of 2.26 and a debt-to-equity ratio of 1.02. Hasbro has a one year low of $76.84 and a one year high of $109.60. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 2.02 and a beta of 0.98.

Hasbro (NASDAQ:HAS) last released its earnings results on Tuesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The firm had revenue of $732.51 million during the quarter, compared to the consensus estimate of $665.96 million. Hasbro had a return on equity of 28.50% and a net margin of 7.83%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Equities analysts forecast that Hasbro will post 4.52 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.68 per share. The ex-dividend date is Wednesday, July 31st. This represents a $2.72 annualized dividend and a dividend yield of 2.80%. Hasbro’s dividend payout ratio is currently 70.65%.

In other Hasbro news, EVP Thomas J. Jr. Courtney sold 3,687 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $105.00, for a total value of $387,135.00. Following the completion of the transaction, the executive vice president now owns 20,795 shares of the company’s stock, valued at approximately $2,183,475. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Tarrant L. Sibley sold 4,000 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $102.20, for a total value of $408,800.00. Following the completion of the transaction, the senior vice president now directly owns 21,703 shares of the company’s stock, valued at approximately $2,218,046.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 346,056 shares of company stock valued at $35,488,019. 9.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cleararc Capital Inc. acquired a new position in Hasbro in the 1st quarter worth about $238,000. FMR LLC increased its holdings in Hasbro by 3.2% in the 1st quarter. FMR LLC now owns 60,034 shares of the company’s stock worth $5,104,000 after purchasing an additional 1,884 shares in the last quarter. BlueMountain Capital Management LLC increased its holdings in Hasbro by 415.0% in the 1st quarter. BlueMountain Capital Management LLC now owns 31,030 shares of the company’s stock worth $2,638,000 after purchasing an additional 25,005 shares in the last quarter. RMB Capital Management LLC increased its holdings in Hasbro by 18.6% in the 1st quarter. RMB Capital Management LLC now owns 7,892 shares of the company’s stock worth $671,000 after purchasing an additional 1,236 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Hasbro by 4.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 74,830 shares of the company’s stock worth $6,362,000 after purchasing an additional 2,991 shares in the last quarter. 90.27% of the stock is owned by institutional investors and hedge funds.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a play and entertainment company. The company's U.S. and Canada segment markets and sells action figures, arts and crafts, and creative play products; electronic toys and related electronic interactive products; fashion and other dolls, infant products, play sets, preschool toys, plush products, and sports action blasters and accessories; and vehicles and toy-related specialty products, as well as traditional board games, and trading card and role-playing games primarily in the United States and Canada.

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