Retirement Systems of Alabama Reduces Stake in Mattel, Inc. (NASDAQ:MAT)

Retirement Systems of Alabama cut its position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 34.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 442,405 shares of the company's stock after selling 236,476 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Mattel worth $8,353,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in Mattel by 11.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 19,199 shares of the company's stock valued at $423,000 after acquiring an additional 1,988 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of Mattel in the third quarter worth about $286,000. Xponance Inc. increased its stake in Mattel by 6.1% in the 3rd quarter. Xponance Inc. now owns 45,618 shares of the company's stock worth $1,005,000 after buying an additional 2,629 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Mattel in the 3rd quarter worth about $468,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in Mattel by 57.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 17,495 shares of the company's stock valued at $385,000 after buying an additional 6,375 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MAT has been the subject of several recent research reports. Morgan Stanley restated an "equal weight" rating and issued a $19.00 price objective (down from $25.00) on shares of Mattel in a report on Wednesday, January 17th. StockNews.com raised shares of Mattel from a "hold" rating to a "buy" rating in a research report on Monday, February 26th. JPMorgan Chase & Co. lowered shares of Mattel from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $24.00 to $19.00 in a report on Monday, February 5th. Jefferies Financial Group boosted their price objective on shares of Mattel from $19.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus dropped their target price on Mattel from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.78.

Mattel Stock Performance

Shares of MAT stock traded up $0.02 on Friday, hitting $18.45. The company had a trading volume of 2,231,227 shares, compared to its average volume of 3,002,084. Mattel, Inc. has a twelve month low of $16.20 and a twelve month high of $22.64. The company has a quick ratio of 1.88, a current ratio of 2.49 and a debt-to-equity ratio of 1.15. The firm has a market cap of $6.35 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.17 and a beta of 0.98. The company has a 50-day moving average price of $19.15 and a 200-day moving average price of $18.98.

Mattel (NASDAQ:MAT - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. Mattel had a net margin of 5.38% and a return on equity of 24.32%. The firm had revenue of $809.50 million during the quarter, compared to analyst estimates of $833.52 million. During the same period in the previous year, the firm earned ($0.24) EPS. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that Mattel, Inc. will post 1.4 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.