HS Management Partners LLC Cuts Holdings in Mattel, Inc. (NASDAQ:MAT)

HS Management Partners LLC lowered its position in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,115,575 shares of the company's stock after selling 185,125 shares during the quarter. Mattel accounts for approximately 2.6% of HS Management Partners LLC's investment portfolio, making the stock its 18th biggest holding. HS Management Partners LLC owned 0.61% of Mattel worth $40,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased 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 last quarter. Barington Capital Group L.P. raised its stake in Mattel by 25.3% in the 2nd quarter. Barington Capital Group L.P. now owns 595,000 shares of the company's stock valued at $9,675,000 after acquiring an additional 120,000 shares during the period. SG Americas Securities LLC purchased a new position in Mattel in the 2nd quarter valued at approximately $312,000. Tidal Investments LLC increased its position in shares of Mattel by 292.6% during the first quarter. Tidal Investments LLC now owns 83,462 shares of the company's stock valued at $1,653,000 after buying an additional 62,204 shares during the period. Finally, Millennium Management LLC grew its position in Mattel by 92.5% during the second quarter. Millennium Management LLC now owns 2,456,754 shares of the company's stock worth $39,947,000 after buying an additional 1,180,301 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MAT. StockNews.com cut shares of Mattel from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. DA Davidson reiterated a "buy" rating and issued a $27.00 price objective on shares of Mattel in a report 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. JPMorgan Chase & Co. boosted their price objective 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 raised their target price on shares of Mattel from $18.25 to $20.00 and gave the stock a "hold" rating in a report on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $23.75.

Mattel Stock Up 0.5 %

Shares of MAT traded up $0.10 during trading hours on Monday, hitting $20.01. The company had a trading volume of 2,189,742 shares, compared to its average volume of 3,152,366. Mattel, Inc. has a 52-week low of $15.87 and a 52-week high of $20.59. The firm has a fifty day moving average price of $19.05 and a 200-day moving average price of $18.34. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.05 and a beta of 0.78. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.88 and a current ratio of 2.45.

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, beating analysts' consensus estimates of $0.95 by $0.19. Mattel had a return on equity of 25.39% and a net margin of 10.24%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company posted $1.08 earnings per share. The company's quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts forecast that Mattel, Inc. will post 1.46 EPS 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.