Empowered Funds LLC Lowers Position in Mattel, Inc. (NASDAQ:MAT)

Empowered Funds LLC decreased its position in Mattel, Inc. (NASDAQ:MAT - Free Report) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,992 shares of the company's stock after selling 36,820 shares during the quarter. Empowered Funds LLC owned approximately 0.12% of Mattel worth $7,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its holdings in Mattel by 4.6% during the first quarter. Capital International Investors now owns 19,231,375 shares of the company's stock worth $380,974,000 after acquiring an additional 845,368 shares during the period. Ariel Investments LLC increased its position in shares of Mattel by 0.7% during the 1st quarter. Ariel Investments LLC now owns 15,583,293 shares of the company's stock valued at $308,705,000 after purchasing an additional 112,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mattel by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,685,291 shares of the company's stock worth $231,487,000 after purchasing an additional 180,855 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Mattel by 20,152.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,995,234 shares of the company's stock worth $178,783,000 after buying an additional 10,940,943 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Mattel by 34.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,794,138 shares of the company's stock valued at $94,215,000 after buying an additional 1,479,227 shares during the period. Hedge funds and other institutional investors own 97.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MAT shares. DA Davidson reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Mattel in a research report on Thursday, October 24th. StockNews.com cut shares of Mattel from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on Mattel from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on Mattel from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group lifted their price objective on Mattel from $18.25 to $20.00 and gave the stock a "hold" rating in a report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Mattel presently has a consensus rating of "Hold" and a consensus price target of $23.75.

Mattel Stock Down 1.7 %

Shares of NASDAQ MAT opened at $18.67 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 1.01. The company has a market cap of $6.29 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.96 and a beta of 0.78. Mattel, Inc. has a 52 week low of $15.87 and a 52 week high of $20.59. The business has a 50-day simple moving average of $19.11 and a two-hundred day simple moving average of $18.39.

Mattel (NASDAQ:MAT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.19. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Mattel had a net margin of 10.24% and a return on equity of 25.39%. The company's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 earnings per share. Research analysts anticipate that Mattel, Inc. will post 1.46 earnings per share for the current fiscal year.

About Mattel

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.