Traders Buy Large Volume of Hasbro Call Options (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 6,266 call options on the stock. This is an increase of approximately 326% compared to the typical daily volume of 1,472 call options.

Hasbro Stock Up 0.3%

Shares of NASDAQ:HAS opened at $89.04 on Thursday. The stock has a market cap of $12.60 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.19 and a beta of 0.49. The company has a quick ratio of 1.49, a current ratio of 1.66 and a debt-to-equity ratio of 4.16. Hasbro has a 52-week low of $69.50 and a 52-week high of $106.98. The business’s 50 day moving average is $84.51 and its 200 day moving average is $90.34.

Hasbro (NASDAQ:HAS) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. Hasbro had a return on equity of 141.11% and a net margin of 15.97%.The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company posted $1.30 earnings per share. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Sell-side analysts predict that Hasbro will post 6.04 EPS for the current year.

Hasbro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, August 19th. Hasbro’s dividend payout ratio is -168.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dorato Capital Management acquired a new stake in Hasbro in the fourth quarter valued at approximately $1,804,000. Howard Capital Management Inc. acquired a new position in shares of Hasbro during the fourth quarter worth $964,000. OFI Invest Asset Management purchased a new stake in shares of Hasbro during the 4th quarter valued at $9,758,000. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Hasbro by 734.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 33,783 shares of the company’s stock valued at $2,770,000 after purchasing an additional 29,735 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Hasbro in the 4th quarter worth $1,140,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HAS shares. Roth Capital restated a “buy” rating on shares of Hasbro in a research report on Wednesday. Jefferies Financial Group reduced their target price on shares of Hasbro from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Hasbro from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Citigroup dropped their price target on shares of Hasbro from $114.00 to $101.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Hasbro from $125.00 to $111.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hasbro currently has an average rating of “Moderate Buy” and an average target price of $108.36.

Key Headlines Impacting Hasbro

Here are the key news stories impacting Hasbro this week:

• Positive Sentiment: Hasbro reported Q2 earnings and revenue that beat Wall Street estimates, with sales up 16% year over year and management raising its full-year outlook for revenue, profit, margins, and EBITDA. Reuters article
• Positive Sentiment: Wizards of the Coast and digital gaming were the main growth drivers, with record Magic: The Gathering demand helping offset softer areas and signaling that Hasbro’s higher-margin franchise strategy is working. WSJ article
• Positive Sentiment: Several analysts reiterated bullish ratings after the quarter, and the company also announced a quarterly dividend, which can support investor confidence. TipRanks article
• Neutral Sentiment: Hasbro unveiled official Legend of Zelda toy figures tied to the franchise’s 40th anniversary, which adds a positive brand and licensing angle but is not yet a confirmed earnings driver. IGN article
• Negative Sentiment: Offsetting the upbeat earnings story, Hasbro disclosed a $56 million write-down tied to cancelling several video game projects, highlighting execution risk in its gaming pipeline. GameSpot article

About Hasbro

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.