JPMorgan Chase & Co. Increases Stake in Mattel, Inc. $MAT

JPMorgan Chase & Co. grew its stake in shares of Mattel, Inc. (NASDAQ:MAT) by 21.2% 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 1,393,829 shares of the company’s stock after buying an additional 244,030 shares during the period. JPMorgan Chase & Co. owned 0.45% of Mattel worth $23,458,000 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. Envestnet Asset Management Inc. increased its holdings in Mattel by 20.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 445,826 shares of the company’s stock valued at $7,503,000 after acquiring an additional 75,124 shares during the last quarter. Norges Bank bought a new position in shares of Mattel during the 2nd quarter valued at about $55,651,000. 44 Wealth Management LLC bought a new position in shares of Mattel during the 3rd quarter valued at about $1,338,000. Simcoe Capital Management LLC purchased a new position in shares of Mattel during the third quarter valued at about $39,044,000. Finally, Great Lakes Advisors LLC grew its position in shares of Mattel by 37.1% during the third quarter. Great Lakes Advisors LLC now owns 318,769 shares of the company’s stock valued at $5,365,000 after purchasing an additional 86,207 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MAT. The Goldman Sachs Group boosted their target price on Mattel from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Wells Fargo & Company assumed coverage on Mattel in a report on Wednesday, March 11th. They set an “overweight” rating and a $19.00 price target for the company. Morgan Stanley set a $18.00 price objective on Mattel in a research note on Wednesday, February 11th. Roth Mkm set a $16.00 price objective on Mattel in a report on Wednesday, February 11th. Finally, Zacks Research downgraded Mattel from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Mattel has a consensus rating of “Hold” and a consensus price target of $18.44.

Mattel Stock Down 0.9%

Shares of NASDAQ MAT opened at $14.95 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.76 and a debt-to-equity ratio of 1.04. Mattel, Inc. has a 12-month low of $13.94 and a 12-month high of $22.48. The firm’s 50-day moving average price is $18.12 and its 200-day moving average price is $18.80. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.87 and a beta of 0.72.

Mattel (NASDAQ:MAT) last released 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 return on equity of 20.72% and a net margin of 7.44%.The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business posted $0.35 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Mattel has set its FY 2026 guidance at 1.180-1.300 EPS. On average, equities research analysts anticipate that Mattel, Inc. will post 1.7 EPS for the current fiscal 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.