Stock traders buy high volume of Hasbro put options (NASDAQ:HAS)

Hasbro, Inc. (NASDAQ:HAS – Get Rating) was the recipient of some unusual options trading activity on Friday. Stock traders bought 18,404 put options on the stock. This is a 989% increase from the typical volume of 1,690 put options.

Shares of HAS were down $2.52 at midday Friday, hitting $86.47. The stock recorded a trading volume of 747,244 shares, compared to an average volume of 1,214,771 shares. Hasbro has a 1-year minimum of $85.97 and a 1-year maximum of $105.73. The company has a market capitalization of $12.02 billion, a PE ratio of 27.98 and a beta of 1.00. The company has a debt ratio of 1.25, a current ratio of 1.52 and a quick ratio of 1.29. The stock’s 50-day moving average is $95.92 and its 200-day moving average is $96.16.

Hasbro (NASDAQ:HAS – Get Rating) last announced its results on Monday, February 7. The company reported earnings per share of $1.21 for the quarter, beating Thomson Reuters consensus estimate of $0.89 by $0.32. Hasbro had a net margin of 6.68% and a return on equity of 24.17%. The company posted revenue of $2.01 billion for the quarter, versus a consensus estimate of $1.87 billion. In the same quarter a year earlier, the company posted earnings per share of $1.27. The company’s revenue for the quarter increased 16.9% year over year. As a group, equity research analysts expect Hasbro to post earnings per share of 5.08 for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, May 16. Shareholders of record on Monday, May 2 will receive a dividend of $0.70. The ex-dividend date is Friday, April 29. This represents an annualized dividend of $2.80 and a dividend yield of 3.24%. This is an increase from Hasbro’s previous quarterly dividend of $0.68. Hasbro’s dividend payout ratio is currently 88.03%.

Separately, Executive Vice President Tarrant L. Sibley sold 2,000 shares of the company in a transaction that took place on Tuesday, January 4. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. 8.40% of the shares are held by insiders.

Institutional investors and hedge funds have recently changed their positions in the company. Capital Research Global Investors increased its holdings of Hasbro stock by 4.4% in the third quarter. Capital Research Global Investors now owns 15,406,031 shares of the company worth $1,374,532,000 after purchasing an additional 649,789 shares in the last quarter. BlackRock Inc. increased its holdings of Hasbro shares by 7.8% in the fourth quarter. BlackRock Inc. now owns 12,434,068 shares of the company worth $1,265,539,000 after purchasing an additional 896,250 shares in the last quarter. Janus Henderson Group PLC increased its holdings of Hasbro shares by 1.3% in the third quarter. Janus Henderson Group PLC now owns 5,826,465 shares of the company worth $519,837,000 after purchasing an additional 72,709 shares in the last quarter. State Street Corp increased its holdings of Hasbro stock 5.2% in the fourth quarter. State Street Corp now owns 5,313,057 shares of the company worth $540,763,000 after purchasing an additional 265,002 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings of Hasbro stock by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 2,434,716 shares of the company worth $247,249,000 after purchasing an additional 73,544 shares in the last quarter. 81.18% of the shares are currently held by institutional investors and hedge funds.

Several equity analysts have recently commented on the stock. DA Davidson lowered its price target on Hasbro shares from $138.00 to $121.00 and set a “buy” rating on the stock in a Tuesday, February 8 report. Goldman Sachs Group lowered its price target on Hasbro shares from $128.00 to $119.00 in a Wednesday, January 26 research note. StockNews.com downgraded Hasbro shares from a “buy” rating to a “hold” rating in a Tuesday, Feb. 15 research note. Finally, JPMorgan Chase & Co. cut its price target on Hasbro shares from $110.00 to $99.00 and set a “neutral” rating on the stock in a Tuesday, Feb. 8 research note. Four investment analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $109.38.

About Hasbro (Get an assessment)

Hasbro, Inc is committed to providing children’s and family entertainment products and services with a portfolio of brands and entertainment properties. The company operates under the following brands: Littlest Pet Shop and Magic: The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh and Transformers. It operates through the following segments: United States and Canada, International and Entertainment, Licensing and Digital and eOne.

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