Hasbro, Inc. (HAS) Declares Dividend Increase – $0.68 Per Share

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Hasbro, Inc. (NASDAQ:HAS) announced a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.68 per share on Wednesday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 30th. This is an increase from Hasbro’s previous quarterly dividend of $0.63.

Hasbro has raised its dividend payment by an average of 10.8% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Hasbro has a payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hasbro to earn $5.41 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 46.6%.

Shares of Hasbro stock traded down $0.51 on Monday, reaching $88.88. 1,689,461 shares of the company were exchanged, compared to its average volume of 1,233,272. The firm has a market capitalization of $11.31 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.99. The company has a quick ratio of 2.07, a current ratio of 2.42 and a debt-to-equity ratio of 0.97. Hasbro has a fifty-two week low of $76.84 and a fifty-two week high of $109.60.

Hasbro (NASDAQ:HAS) last announced its earnings results on Friday, February 8th. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.35). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.53 billion. Hasbro had a return on equity of 28.01% and a net margin of 4.81%. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period last year, the firm earned $2.30 earnings per share. Analysts expect that Hasbro will post 5.14 EPS for the current year.

HAS has been the topic of several recent analyst reports. MKM Partners dropped their price target on Hasbro to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, October 23rd. Barclays dropped their target price on Hasbro from $117.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. BidaskClub raised Hasbro from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. KeyCorp upped their target price on Hasbro from $118.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, October 15th. Finally, SunTrust Banks dropped their target price on Hasbro to $96.00 and set a “hold” rating on the stock in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $96.75.

In other Hasbro news, Director Alan G. Hassenfeld sold 5,350 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $97.41, for a total value of $521,143.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan G. Hassenfeld sold 302,220 shares of the stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $97.54, for a total value of $29,478,538.80. Following the completion of the transaction, the director now owns 30,945 shares in the company, valued at $3,018,375.30. The disclosure for this sale can be found here. Insiders have sold a total of 707,570 shares of company stock valued at $68,963,682 over the last ninety days. Insiders own 9.90% of the company’s stock.

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Hasbro Company Profile

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.

Further Reading: Can systematic risk be avoided?

Dividend History for Hasbro (NASDAQ:HAS)

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