Massachusetts Financial Services Co. MA Sells 1,072,089 Shares of Mattel, Inc. (NASDAQ:MAT)

Massachusetts Financial Services Co. MA cut its position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,199,981 shares of the company's stock after selling 1,072,089 shares during the period. Massachusetts Financial Services Co. MA owned 1.61% of Mattel worth $101,036,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MAT. EdgePoint Investment Group Inc. grew its stake in Mattel by 14.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 46,174,919 shares of the company's stock valued at $818,681,000 after buying an additional 5,984,400 shares during the last quarter. Norges Bank bought a new position in shares of Mattel during the fourth quarter worth approximately $54,929,000. Invesco Ltd. boosted its position in shares of Mattel by 468.3% during the 4th quarter. Invesco Ltd. now owns 3,394,958 shares of the company's stock worth $60,193,000 after acquiring an additional 2,797,559 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Mattel during the 4th quarter worth approximately $39,066,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Mattel during the 4th quarter worth approximately $33,942,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Mattel from $24.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of Mattel from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Citigroup lifted their target price on shares of Mattel from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Morgan Stanley lifted their price target on shares of Mattel from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Roth Capital set a $22.00 price target on shares of Mattel and gave the company a "neutral" rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.13.

Mattel Stock Down 0.6%

Mattel stock traded down $0.11 during midday trading on Friday, hitting $19.38. 3,000,530 shares of the stock were exchanged, compared to its average volume of 3,626,802. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 2.05 and a beta of 0.66. The company has a quick ratio of 1.86, a current ratio of 2.43 and a debt-to-equity ratio of 1.10. Mattel, Inc. has a 52-week low of $13.95 and a 52-week high of $22.07. The business's 50-day moving average price is $19.42 and its 200-day moving average price is $18.84.

Mattel (NASDAQ:MAT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.08. The business had revenue of $826.60 million for the quarter, compared to analyst estimates of $791.49 million. Mattel had a net margin of 9.82% and a return on equity of 25.80%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, research analysts expect that Mattel, Inc. will post 1.7 EPS for the current fiscal 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.