Bank of New York Mellon Corp Acquires Shares of 1,685,407 Mattel, Inc. $MAT

Key Points

• Bank of New York Mellon acquired 1.69 million Mattel shares worth approximately $23.4 million, giving it a 0.58% stake. Institutional investors collectively own 97.15% of Mattel.
• Analyst sentiment is mixed, with one Strong Buy, five Buy, five Hold and three Sell ratings. The stock carries an overall “Hold” rating and an average price target of $17.80.
• Mattel’s latest quarterly revenue rose 10.5% year over year to $1.13 billion, exceeding expectations, but adjusted earnings of $0.01 per share missed estimates by $0.03.

Bank of New York Mellon Corp acquired a new stake in Mattel, Inc. (NASDAQ:MAT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,685,407 shares of the company's stock, valued at approximately $23,393,000. Bank of New York Mellon Corp owned 0.58% of Mattel at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Mattel in the first quarter valued at about $553,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Mattel by 74.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,437 shares of the company's stock valued at $67,000 after purchasing an additional 1,468 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Mattel by 50.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,153,851 shares of the company's stock valued at $80,709,000 after purchasing an additional 1,393,000 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Mattel by 5.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 778,963 shares of the company's stock worth $15,135,000 after purchasing an additional 37,118 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Mattel during the first quarter worth approximately $266,000. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup lowered their target price on shares of Mattel from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Friday, July 10th. Odeon Capital Group assumed coverage on Mattel in a report on Thursday, July 16th. They issued a "buy" rating on the stock. Wall Street Zen cut Mattel from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. Weiss Ratings downgraded Mattel from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Mattel in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $17.80.

Mattel Price Performance

Mattel stock opened at $15.14 on Monday. The firm has a market capitalization of $4.33 billion, a PE ratio of 11.13, a P/E/G ratio of 1.46 and a beta of 0.72. Mattel, Inc. has a 52 week low of $12.73 and a 52 week high of $22.48. The firm's 50-day simple moving average is $14.34 and its 200 day simple moving average is $14.93. The company has a quick ratio of 1.26, a current ratio of 1.90 and a debt-to-equity ratio of 1.17.

Mattel (NASDAQ:MAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Mattel had a net margin of 7.79% and a return on equity of 16.20%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same period last year, the company earned $0.19 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Mattel has set its FY 2026 guidance at 1.270-1.390 EPS. On average, equities research analysts predict that Mattel, Inc. will post 1.32 EPS for the current fiscal year.

Mattel Company Profile

Mattel, Inc is a leading global toy company headquartered in El Segundo, California. Founded in 1945 by Harold “Matt” Matson and Elliot and Ruth Handler, the company has grown into a major player in the toy and family products industry. Mattel designs, manufactures, and markets a broad range of toys, games and entertainment products under well-known brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO and Matchbox. In addition to its proprietary labels, Mattel holds licenses with global entertainment franchises, partnering with Disney, Warner Bros., WWE and other studios to create character-driven play experiences.

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