Primecap Management Co. CA Trims Stock Position in Mattel, Inc. $MAT

Primecap Management Co. CA cut its stake in Mattel, Inc. (NASDAQ:MAT) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,218,261 shares of the company’s stock after selling 1,932,410 shares during the quarter. Primecap Management Co. CA owned about 10.31% of Mattel worth $655,064,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MAT. Parallel Advisors LLC raised its stake in Mattel by 189.9% in the second quarter. Parallel Advisors LLC now owns 1,609 shares of the company’s stock worth $32,000 after buying an additional 1,054 shares in the last quarter. Traub Capital Management LLC purchased a new position in shares of Mattel during the 2nd quarter worth approximately $40,000. IFP Advisors Inc raised its position in shares of Mattel by 90.6% in the 2nd quarter. IFP Advisors Inc now owns 2,215 shares of the company’s stock worth $44,000 after acquiring an additional 1,053 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Mattel by 409.1% in the 2nd quarter. True Wealth Design LLC now owns 2,846 shares of the company’s stock valued at $56,000 after purchasing an additional 2,287 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Mattel by 469.5% during the second quarter. Allworth Financial LP now owns 2,853 shares of the company’s stock valued at $56,000 after purchasing an additional 2,352 shares in the last quarter. Institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MAT. Seaport Res Ptn upgraded Mattel to a “hold” rating in a report on Monday, November 10th. JPMorgan Chase & Co. decreased their price target on shares of Mattel from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. DA Davidson lowered their price target on shares of Mattel from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Cfra Research lowered shares of Mattel from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mattel in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Mattel currently has an average rating of “Hold” and an average price target of $22.57.

Mattel Price Performance

NASDAQ:MAT opened at $18.72 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.18 and a current ratio of 1.60. The firm has a market cap of $5.82 billion, a P/E ratio of 13.97, a P/E/G ratio of 2.21 and a beta of 0.75. Mattel, Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $22.07. The firm has a 50-day simple moving average of $18.11 and a two-hundred day simple moving average of $18.52.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.16). Mattel had a net margin of 8.27% and a return on equity of 20.60%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business earned $1.14 EPS. Mattel’s revenue was down 5.9% on a year-over-year basis. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. Analysts predict that Mattel, Inc. will post 1.7 earnings per share for the current fiscal year.

About Mattel

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.