JPMorgan Chase & Co. Trims Position in Mattel, Inc. (NASDAQ:MAT)

JPMorgan Chase & Co. lessened its holdings in shares of Mattel, Inc. (NASDAQ:MAT) by 25.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 802,169 shares of the company’s stock after selling 271,585 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.24% of Mattel worth $15,281,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Franklin Resources Inc. raised its position in shares of Mattel by 84.0% in the 3rd quarter. Franklin Resources Inc. now owns 9,352,223 shares of the company’s stock worth $176,757,000 after buying an additional 4,270,162 shares during the period. Geode Capital Management LLC raised its position in shares of Mattel by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,134,691 shares of the company’s stock worth $116,896,000 after buying an additional 17,309 shares during the period. M&T Bank Corp raised its position in shares of Mattel by 17.7% in the 3rd quarter. M&T Bank Corp now owns 12,078 shares of the company’s stock worth $230,000 after buying an additional 1,815 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Mattel in the 3rd quarter worth $224,000. Finally, State Street Corp raised its position in shares of Mattel by 3.1% in the 3rd quarter. State Street Corp now owns 10,517,270 shares of the company’s stock worth $200,354,000 after buying an additional 318,125 shares during the period. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MAT shares. Bank of America increased their target price on Mattel from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. DA Davidson reaffirmed a “buy” rating and issued a $27.00 target price on shares of Mattel in a research report on Thursday, October 24th. Morgan Stanley increased their price target on Mattel from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. StockNews.com upgraded Mattel from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. increased their price target on Mattel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mattel has an average rating of “Moderate Buy” and an average price target of $23.75.

Mattel Stock Up 1.4 %

Shares of Mattel stock opened at $18.68 on Friday. The business has a 50-day moving average of $18.69 and a 200-day moving average of $18.55. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.45 and a quick ratio of 1.88. The company has a market capitalization of $6.29 billion, a PE ratio of 11.68, a P/E/G ratio of 0.97 and a beta of 0.75. Mattel, Inc. has a 1-year low of $15.87 and a 1-year high of $20.59.

Mattel (NASDAQ:MAT) last announced its earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.19. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Mattel had a return on equity of 25.39% and a net margin of 10.24%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. As a group, equities analysts forecast that Mattel, Inc. will post 1.46 EPS for the current fiscal year.

Mattel Company 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.