Hasbro (NASDAQ:HAS) Upgraded to Buy at Citigroup

Citigroup upgraded shares of Hasbro (NASDAQ:HAS - Free Report) from a neutral rating to a buy rating in a report released on Friday, Marketbeat.com reports. They currently have $72.00 price objective on the stock.

Several other brokerages have also issued reports on HAS. Stifel Nicolaus lowered their price target on Hasbro from $82.00 to $77.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Morgan Stanley restated an "overweight" rating and issued a $84.00 target price (down from $88.00) on shares of Hasbro in a research note on Friday, February 21st. Roth Mkm boosted their price target on shares of Hasbro from $68.00 to $82.00 and gave the company a "buy" rating in a report on Friday, February 21st. StockNews.com downgraded shares of Hasbro from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, DA Davidson raised shares of Hasbro to a "hold" rating in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.89.

Hasbro Stock Performance

Shares of HAS stock traded up $0.35 during trading hours on Friday, reaching $61.34. 2,345,172 shares of the company's stock were exchanged, compared to its average volume of 1,669,073. The business has a fifty day moving average price of $59.37 and a 200-day moving average price of $60.99. The stock has a market capitalization of $8.58 billion, a P/E ratio of 22.31, a P/E/G ratio of 0.60 and a beta of 0.51. The company has a quick ratio of 1.29, a current ratio of 1.60 and a debt-to-equity ratio of 2.85. Hasbro has a fifty-two week low of $49.00 and a fifty-two week high of $73.46.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.37. Hasbro had a net margin of 9.32% and a return on equity of 47.93%. The firm had revenue of $887.10 million during the quarter, compared to the consensus estimate of $770.60 million. During the same period in the prior year, the firm earned $0.61 EPS. The business's revenue was up 17.1% on a year-over-year basis. Analysts predict that Hasbro will post 4.33 EPS for the current fiscal year.

Hasbro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.80 dividend on an annualized basis and a yield of 4.56%. Hasbro's dividend payout ratio is 92.41%.

Hedge Funds Weigh In On Hasbro

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parvin Asset Management LLC bought a new position in shares of Hasbro in the fourth quarter valued at about $25,000. Allworth Financial LP raised its stake in shares of Hasbro by 120.1% in the fourth quarter. Allworth Financial LP now owns 482 shares of the company's stock worth $28,000 after acquiring an additional 263 shares during the last quarter. Sentry Investment Management LLC acquired a new position in shares of Hasbro during the first quarter worth approximately $28,000. Itau Unibanco Holding S.A. grew its stake in shares of Hasbro by 32.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock valued at $41,000 after purchasing an additional 178 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Hasbro in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 91.83% of the company's stock.

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.