Primecap Management Co. CA Lowers Stock Position in Mattel, Inc. (NASDAQ:MAT)

Primecap Management Co. CA lessened its holdings in Mattel, Inc. (NASDAQ:MAT) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,891,101 shares of the company’s stock after selling 637,081 shares during the quarter. Primecap Management Co. CA owned 11.25% of Mattel worth $721,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Mattel by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,685,291 shares of the company’s stock valued at $231,487,000 after purchasing an additional 180,855 shares in the last quarter. Barington Capital Group L.P. boosted its holdings in Mattel by 25.3% in the 2nd quarter. Barington Capital Group L.P. now owns 595,000 shares of the company’s stock valued at $9,675,000 after purchasing an additional 120,000 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Mattel in the 2nd quarter valued at approximately $312,000. Tidal Investments LLC boosted its stake in shares of Mattel by 292.6% during the 1st quarter. Tidal Investments LLC now owns 83,462 shares of the company’s stock worth $1,653,000 after acquiring an additional 62,204 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Mattel by 92.5% during the 2nd quarter. Millennium Management LLC now owns 2,456,754 shares of the company’s stock worth $39,947,000 after acquiring an additional 1,180,301 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. DA Davidson reissued a “buy” rating and set a $27.00 price target on shares of Mattel in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on Mattel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. StockNews.com lowered Mattel from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price target on Mattel from $18.25 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley boosted their price target on Mattel from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.75.

Mattel Trading Up 0.2 %

Shares of MAT opened at $18.35 on Thursday. Mattel, Inc. has a fifty-two week low of $15.87 and a fifty-two week high of $20.59. The stock has a fifty day moving average of $19.09 and a two-hundred day moving average of $18.39. The company has a market capitalization of $6.18 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.78. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.88 and a current ratio of 2.45.

Mattel (NASDAQ:MAT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.19. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $1.08 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, analysts forecast that Mattel, Inc. will post 1.46 EPS for the current year.

Mattel Profile

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.