Primecap Management Co. CA Reduces Stock Position in Mattel, Inc. $MAT

Primecap Management Co. CA cut its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,218,261 shares of the company’s stock after selling 1,932,410 shares during the period. Primecap Management Co. CA owned about 0.10% of Mattel worth $655,064,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of Mattel by 386.2% in the 1st quarter. AQR Capital Management LLC now owns 7,260,394 shares of the company’s stock worth $139,218,000 after buying an additional 5,767,170 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Mattel by 247.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,651,568 shares of the company’s stock valued at $129,240,000 after purchasing an additional 4,737,199 shares during the period. Dimensional Fund Advisors LP raised its position 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. Goldman Sachs Group Inc. raised its holdings in Mattel by 50.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,153,851 shares of the company’s stock worth $80,709,000 after purchasing an additional 1,393,000 shares during the period. Finally, LSV Asset Management raised its stake in Mattel by 22.0% during the 2nd quarter. LSV Asset Management now owns 5,699,638 shares of the company’s stock worth $112,397,000 after acquiring an additional 1,026,496 shares during the period. 97.15% of the stock is owned by institutional investors.

Mattel Stock Performance

Shares of MAT stock opened at $18.72 on Wednesday. The company has a market cap of $5.82 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 2.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.60 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $18.11 and its two-hundred day simple moving average is $18.52. Mattel, Inc. has a 1 year low of $13.94 and a 1 year high of $22.07.

Mattel (NASDAQ:MAT) last released its earnings results on Tuesday, October 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.16). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.86 billion. Mattel had a net margin of 8.27% and a return on equity of 20.60%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. Mattel has set its FY 2025 guidance at 1.540-1.660 EPS. Research analysts predict that Mattel, Inc. will post 1.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MAT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Mattel in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on Mattel from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Seaport Res Ptn upgraded Mattel to a “hold” rating in a research report on Monday, November 10th. Roth Capital set a $20.00 price target on Mattel and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Cfra Research downgraded Mattel from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.57.

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.