Price T Rowe Associates Inc. MD Reduces Stock Position in Mattel, Inc. $MAT

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Mattel by 11.6%, owning approximately 9.9 million shares valued at $192.5 million after selling 1.3 million shares in the first quarter.
• Equities research analysts have varied opinions on Mattel, with target prices ranging from $21.00 to $30.00 and a consensus rating of "Moderate Buy."
• Mattel reported earnings of $0.19 per share, surpassing estimates, but its quarterly revenue decreased by 5.7% year over year to $1.02 billion.

Price T Rowe Associates Inc. MD decreased its position in Mattel, Inc. (NASDAQ:MAT - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,908,789 shares of the company's stock after selling 1,300,808 shares during the period. Price T Rowe Associates Inc. MD owned about 3.07% of Mattel worth $192,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgePoint Investment Group Inc. raised its position in Mattel by 14.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 46,174,919 shares of the company's stock valued at $818,681,000 after purchasing an additional 5,984,400 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Mattel by 247.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 6,651,568 shares of the company's stock valued at $129,240,000 after buying an additional 4,737,199 shares during the period. Freestone Grove Partners LP bought a new position in shares of Mattel during the fourth quarter valued at approximately $39,066,000. Dimensional Fund Advisors LP lifted its stake in Mattel by 21.2% in the first quarter. Dimensional Fund Advisors LP now owns 8,089,837 shares of the company's stock worth $157,179,000 after acquiring an additional 1,416,542 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Mattel by 94.8% in the fourth quarter. AQR Capital Management LLC now owns 1,493,224 shares of the company's stock valued at $26,370,000 after acquiring an additional 726,759 shares in the last quarter. 97.15% of the stock is owned by institutional investors.

Mattel Stock Down 1.2%

Shares of NASDAQ MAT traded down $0.23 during midday trading on Friday, hitting $18.24. The stock had a trading volume of 1,568,121 shares, compared to its average volume of 4,083,093. The business's 50 day moving average is $18.70 and its 200-day moving average is $18.70. Mattel, Inc. has a 52 week low of $13.94 and a 52 week high of $22.07. The company has a quick ratio of 1.12, a current ratio of 1.62 and a debt-to-equity ratio of 0.80. The company has a market cap of $5.88 billion, a P/E ratio of 11.76, a PEG ratio of 2.26 and a beta of 0.62.

Mattel (NASDAQ:MAT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.09 billion. Mattel had a net margin of 9.87% and a return on equity of 25.19%. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. As a group, analysts predict that Mattel, Inc. will post 1.7 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Mattel from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. The Goldman Sachs Group dropped their price target on Mattel from $24.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley increased their price objective on Mattel from $16.00 to $17.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. DA Davidson restated a "buy" rating and set a $30.00 target price on shares of Mattel in a report on Thursday, May 15th. Finally, Roth Capital set a $22.00 price target on shares of Mattel and gave the stock a "neutral" rating in a research note on Friday, July 11th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.38.

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.