Primecap Management Co. CA Sells 1,379,020 Shares of Mattel, Inc. (NASDAQ:MAT)

Primecap Management Co. CA cut its stake in shares of Mattel, Inc. (NASDAQ:MAT - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,512,081 shares of the company's stock after selling 1,379,020 shares during the period. Primecap Management Co. CA owned 10.84% of Mattel worth $647,359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAT. State Street Corp increased its stake in Mattel by 3.1% in the 3rd 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. Franklin Resources Inc. grew its holdings in shares of Mattel by 84.0% during the third quarter. Franklin Resources Inc. now owns 9,352,223 shares of the company's stock worth $176,757,000 after purchasing an additional 4,270,162 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Mattel by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,291,976 shares of the company's stock worth $119,862,000 after purchasing an additional 27,204 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Mattel by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,390,675 shares of the company's stock valued at $77,847,000 after purchasing an additional 127,064 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Mattel from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Jefferies Financial Group raised Mattel from a "hold" rating to a "buy" rating and lifted their price target for the stock from $20.00 to $28.00 in a research note on Wednesday, February 5th. DA Davidson increased their price objective on Mattel from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley raised their price objective on Mattel from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.57.

Mattel Trading Down 1.1 %

MAT traded down $0.23 on Friday, hitting $19.80. 22,651,235 shares of the company were exchanged, compared to its average volume of 3,251,332. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.00 and a current ratio of 2.38. The firm has a fifty day simple moving average of $20.03 and a two-hundred day simple moving average of $19.25. The stock has a market capitalization of $6.60 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.35 and a beta of 0.65. Mattel, Inc. has a 12 month low of $15.87 and a 12 month high of $22.07.

Mattel (NASDAQ:MAT - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.15. Mattel had a return on equity of 25.94% and a net margin of 10.07%. During the same quarter last year, the firm earned $0.29 earnings per share. Sell-side analysts expect that Mattel, Inc. will post 1.7 earnings per share for the current 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.