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

Primecap Management Co. CA lowered its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,354,147 shares of the company’s stock after selling 1,864,114 shares during the period. Primecap Management Co. CA owned 10.09% of Mattel worth $527,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. EdgePoint Investment Group Inc. grew its stake in Mattel by 12.9% during the second quarter. EdgePoint Investment Group Inc. now owns 40,823,584 shares of the company’s stock valued at $805,041,000 after acquiring an additional 4,665,541 shares in the last quarter. Ariel Investments LLC lifted its stake in Mattel by 2.6% in the 2nd quarter. Ariel Investments LLC now owns 14,220,786 shares of the company’s stock worth $280,434,000 after purchasing an additional 362,671 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of Mattel by 0.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 8,980,205 shares of the company’s stock valued at $177,090,000 after purchasing an additional 55,916 shares during the last quarter. LSV Asset Management grew its position in shares of Mattel by 5.6% during the third quarter. LSV Asset Management now owns 6,017,810 shares of the company’s stock valued at $101,280,000 after purchasing an additional 318,172 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Mattel by 2.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,779,442 shares of the company’s stock valued at $97,268,000 after purchasing an additional 157,881 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MAT. The Goldman Sachs Group raised their price target on Mattel from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Citigroup downgraded 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 report on Wednesday, February 11th. Zacks Research raised shares of Mattel from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings raised shares of Mattel from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Finally, Jefferies Financial Group lowered their price objective on shares of Mattel from $25.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.63.

Mattel Price Performance

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

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

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.