Primecap Management Co. CA Sells 438,300 Shares of Mattel, Inc. (NASDAQ:MAT)

Primecap Management Co. CA lowered its holdings in Mattel, Inc. (NASDAQ:MAT - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,178,489 shares of the company's stock after selling 438,300 shares during the quarter. Primecap Management Co. CA owned approximately 11.66% of Mattel worth $777,450,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MAT. Trust Co. of Vermont raised its stake in shares of Mattel by 833.3% during the 3rd quarter. Trust Co. of Vermont now owns 1,120 shares of the company's stock worth $25,000 after acquiring an additional 1,000 shares in the last quarter. Clearstead Advisors LLC acquired a new position in Mattel during the 3rd quarter valued at approximately $52,000. Fifth Third Bancorp increased its stake in Mattel by 23.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,908 shares of the company's stock valued at $64,000 after purchasing an additional 550 shares in the last quarter. Partnership Wealth Management LLC acquired a new position in Mattel during the 4th quarter valued at approximately $61,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new position in Mattel during the 3rd quarter valued at approximately $128,000. Institutional investors own 97.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MAT. Roth Mkm restated a "neutral" rating and set a $21.00 price target on shares of Mattel in a research note on Wednesday, April 24th. Bank of America upped their price target on shares of Mattel from $25.00 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. downgraded shares of Mattel from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $24.00 to $19.00 in a report on Monday, February 5th. DA Davidson upped their price objective on shares of Mattel from $26.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group upped their price objective on shares of Mattel from $19.00 to $20.00 and gave the company a "hold" rating in a report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Mattel currently has an average rating of "Moderate Buy" and an average target price of $22.78.

Mattel Stock Performance

NASDAQ MAT traded up $0.05 during mid-day trading on Friday, reaching $17.58. 3,231,046 shares of the stock were exchanged, compared to its average volume of 2,982,385. The business's 50 day moving average is $18.81 and its 200-day moving average is $18.85. Mattel, Inc. has a 1 year low of $16.20 and a 1 year high of $22.64. The company has a market capitalization of $6.05 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.14 and a beta of 0.98. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.88 and a current ratio of 2.49.

Mattel (NASDAQ:MAT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $833.52 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. The firm's quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Mattel, Inc. will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling at Mattel

In other Mattel news, insider Steve Totzke sold 23,662 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $18.89, for a total transaction of $446,975.18. Following the transaction, the insider now directly owns 152,018 shares of the company's stock, valued at $2,871,620.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Mattel news, insider Steve Totzke sold 23,662 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $18.89, for a total transaction of $446,975.18. Following the transaction, the insider now directly owns 152,018 shares of the company's stock, valued at $2,871,620.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Zanatta Roberto Jacobo Isaias sold 21,655 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $18.83, for a total transaction of $407,763.65. Following the transaction, the executive vice president now directly owns 106,086 shares in the company, valued at $1,997,599.38. The disclosure for this sale can be found here. Insiders have sold a total of 90,533 shares of company stock valued at $1,709,321 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

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.

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