Jefferies Financial Group has raised its price target for Hasbro (NASDAQ: HAS) from $90.00 to $95.00, as reported in a research note released to investors on Monday. This adjustment comes with a “buy” rating on the stock, suggesting a potential upside of 15.07% based on Hasbro’s current trading price. The increase reflects growing confidence in the company’s financial performance and market position.
Other financial analysts have also provided updates on Hasbro’s stock. The Goldman Sachs Group raised its target from $89.00 to $90.00 and maintained a “buy” rating on October 24, 2023. Similarly, Morgan Stanley reaffirmed an “overweight” rating with a target of $94.00 as of December 14, 2023. Bank of America increased its target from $95.00 to $100.00, while Citigroup also raised its target from $91.00 to $97.00 on the same day as Goldman Sachs.
Current Market Sentiment and Analyst Ratings
A review of recent analyst ratings reveals a mix of opinions on Hasbro’s stock. One analyst has assigned a “Strong Buy” rating, while eleven have issued a “Buy” rating. Additionally, two analysts have rated the stock as a “Hold,” and one has given it a “Sell” rating. According to data from MarketBeat, Hasbro currently holds a consensus rating of “Moderate Buy” with an average price target of $90.31.
Hasbro’s stock showed a slight increase of 1.1% following its latest earnings announcement on October 23, 2023. The company reported earnings of $1.68 per share, exceeding analysts’ expectations of $1.63 by $0.05. The firm also recorded revenue of $1.39 billion, surpassing the consensus estimate of $1.35 billion. Despite these positive results, Hasbro experienced a negative net margin of 12.81%, although it maintained a robust return on equity of 82.17%. Year-over-year, the company’s revenue increased by 8.3%, although earnings per share fell from $1.73 in the same quarter last year.
Insider Activity and Institutional Investments
In related news, Hope F. Cochran, a director at Hasbro, sold 4,000 shares on November 10, 2023, at an average price of $77.24, totaling $308,960. Following this transaction, Cochran owns 17,102 shares, valued at approximately $1.32 million, indicating a 18.96% decrease in her holdings. This sale has been disclosed in a legal filing with the SEC.
Institutional investors continue to play a significant role in Hasbro’s stock. Hedge funds and other entities have been adjusting their stakes in the company. For instance, Brighton Jones LLC acquired a new stake valued at around $317,000 in the fourth quarter. Meanwhile, American Century Companies Inc. raised its position by 21.3% during the first quarter, now owning 13,596 shares worth approximately $836,000.
Other notable adjustments include Northwestern Mutual Wealth Management Co., which increased its stake by 14.5% to own 7,342 shares, and Jump Financial LLC, which boosted its holdings by 129.5% to 11,020 shares. Overall, institutional investors own a substantial 91.83% of Hasbro’s stock.
Founded in 1923 and headquartered in Pawtucket, Rhode Island, Hasbro, Inc. has established itself as a leader in the global play and entertainment industry. The company designs and markets a diverse range of toys, games, and consumer products, with notable brands including Monopoly, Play-Doh, Nerf, My Little Pony, and Transformers.
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