Short Interest in Hasbro, Inc. (NASDAQ:HAS) Grows By 22.7%

Hasbro, Inc. (NASDAQ:HAS) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 4,270,000 shares, a growth of 22.7% from the October 15th total of 3,480,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HAS shares. Stifel Nicolaus boosted their target price on shares of Hasbro from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group raised their target price on Hasbro from $75.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their price objective on Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America lifted their target price on Hasbro from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Hasbro from $76.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Hasbro presently has a consensus rating of “Moderate Buy” and an average target price of $80.67.

Hedge Funds Weigh In On Hasbro

Several hedge funds and other institutional investors have recently made changes to their positions in HAS. Plato Investment Management Ltd acquired a new stake in shares of Hasbro in the second quarter valued at about $27,000. Asset Dedication LLC boosted its holdings in shares of Hasbro by 290.1% during the 2nd quarter. Asset Dedication LLC now owns 472 shares of the company’s stock worth $28,000 after purchasing an additional 351 shares during the last quarter. Blue Trust Inc. lifted its position in Hasbro by 224.8% during the third quarter. Blue Trust Inc. now owns 432 shares of the company’s stock worth $31,000 after buying an additional 299 shares in the last quarter. True Wealth Design LLC acquired a new position in Hasbro during the third quarter worth $31,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Hasbro in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Price Performance

Shares of Hasbro stock traded down $0.85 during trading hours on Friday, reaching $62.21. The stock had a trading volume of 1,168,618 shares, compared to its average volume of 1,617,096. The stock’s 50 day moving average is $69.01 and its 200 day moving average is $64.29. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 2.64. Hasbro has a twelve month low of $43.74 and a twelve month high of $73.46. The firm has a market capitalization of $8.68 billion, a PE ratio of -13.41, a PEG ratio of 0.58 and a beta of 0.63.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.45. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. Hasbro’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. Equities analysts expect that Hasbro will post 3.94 earnings per share for the current fiscal year.

Hasbro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid 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 yield of 4.50%. Hasbro’s dividend payout ratio (DPR) is currently -60.34%.

Hasbro Company Profile

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.