Primecap Management Co. CA Trims Stake in Mattel, Inc. $MAT

Primecap Management Co. CA lessened its holdings in shares of Mattel, Inc. (NASDAQ:MAT) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,354,147 shares of the company’s stock after selling 1,864,114 shares during the period. Primecap Management Co. CA owned about 0.10% of Mattel worth $527,690,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. State of Wyoming raised its holdings in shares of Mattel by 4.3% in the third quarter. State of Wyoming now owns 15,251 shares of the company’s stock worth $257,000 after buying an additional 634 shares during the period. Jones Financial Companies Lllp boosted its holdings in Mattel by 12.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 6,687 shares of the company’s stock valued at $113,000 after acquiring an additional 747 shares during the period. Sei Investments Co. grew its position in Mattel by 1.7% in the 2nd quarter. Sei Investments Co. now owns 45,736 shares of the company’s stock valued at $902,000 after acquiring an additional 758 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Mattel by 537.7% in the third quarter. Cornerstone Planning Group LLC now owns 1,352 shares of the company’s stock worth $25,000 after purchasing an additional 1,140 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Mattel by 12.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 11,459 shares of the company’s stock worth $193,000 after purchasing an additional 1,241 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

Mattel Stock Down 3.7%

NASDAQ:MAT opened at $16.85 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.15 and a quick ratio of 1.76. Mattel, Inc. has a 1-year low of $13.94 and a 1-year high of $22.48. The company has a 50-day moving average of $19.91 and a 200 day moving average of $19.11. The firm has a market cap of $5.09 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.44 and a beta of 0.70.

Mattel (NASDAQ:MAT) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.14). Mattel had a net margin of 7.44% and a return on equity of 20.72%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Mattel has set its FY 2026 guidance at 1.180-1.300 EPS. As a group, research analysts anticipate that Mattel, Inc. will post 1.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MAT has been the subject of a number of recent analyst reports. Citigroup lowered shares of Mattel from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $16.00 in a research note on Wednesday, February 11th. Roth Mkm set a $16.00 price objective on shares of Mattel in a report on Wednesday, February 11th. JPMorgan Chase & Co. cut shares of Mattel from a “neutral” rating to an “underweight” rating and set a $14.00 price objective for the company. in a research report on Wednesday, February 11th. Jefferies Financial Group dropped their target price on shares of Mattel from $25.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Mattel in a research note on Wednesday, February 11th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.63.

About Mattel

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.