Franklin Resources Inc. Increases Position in Mattel, Inc. (NASDAQ:MAT)

Franklin Resources Inc. lifted its stake in Mattel, Inc. (NASDAQ:MAT - Free Report) by 84.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,352,223 shares of the company's stock after purchasing an additional 4,270,162 shares during the quarter. Franklin Resources Inc. owned about 2.78% of Mattel worth $176,757,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Mattel by 0.3% in the third quarter. Geode Capital Management LLC now owns 6,134,691 shares of the company's stock valued at $116,896,000 after purchasing an additional 17,309 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Mattel by 17.7% in the third quarter. M&T Bank Corp now owns 12,078 shares of the company's stock valued at $230,000 after purchasing an additional 1,815 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Mattel in the third quarter valued at approximately $224,000. State Street Corp increased its stake in Mattel by 3.1% during the third quarter. State Street Corp now owns 10,517,270 shares of the company's stock worth $200,354,000 after acquiring an additional 318,125 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Mattel by 3.2% during the third quarter. Quantinno Capital Management LP now owns 108,543 shares of the company's stock worth $2,068,000 after acquiring an additional 3,373 shares during the last quarter. Institutional investors and hedge funds own 97.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MAT shares. DA Davidson reissued a "buy" rating and set a $27.00 target price on shares of Mattel in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on Mattel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday, October 21st. StockNews.com cut Mattel from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Bank of America raised their price target on Mattel from $26.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on Mattel from $18.25 to $20.00 and gave the company a "hold" rating in a report on Tuesday, October 1st. Six research 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, the stock presently has an average rating of "Hold" and an average price target of $23.75.

Mattel Stock Down 2.3 %

Shares of NASDAQ:MAT traded down $0.45 on Friday, hitting $18.87. 2,103,933 shares of the company's stock were exchanged, compared to its average volume of 3,201,005. The firm's 50-day moving average is $19.07 and its 200 day moving average is $18.47. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.88 and a current ratio of 2.45. The company has a market capitalization of $6.36 billion, a PE ratio of 11.79, a P/E/G ratio of 0.99 and a beta of 0.76. Mattel, Inc. has a 1-year low of $15.87 and a 1-year high of $20.59.

Mattel (NASDAQ:MAT - Get Free Report) last issued its 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 business 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 for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. Sell-side analysts predict that Mattel, Inc. will post 1.46 EPS for the current year.

Mattel 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.