California Public Employees Retirement System Has $11.51 Million Stake in Mattel, Inc. (NASDAQ:MAT)

California Public Employees Retirement System trimmed its position in shares of Mattel, Inc. (NASDAQ:MAT) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 609,588 shares of the company’s stock after selling 50,577 shares during the quarter. California Public Employees Retirement System’s holdings in Mattel were worth $11,509,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB grew its holdings in Mattel by 17.2% during the third quarter. Handelsbanken Fonder AB now owns 64,100 shares of the company’s stock worth $1,412,000 after buying an additional 9,400 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Mattel by 11.6% during the third quarter. Commonwealth Equity Services LLC now owns 19,199 shares of the company’s stock worth $423,000 after buying an additional 1,988 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Mattel during the third quarter worth $286,000. Xponance Inc. grew its holdings in Mattel by 6.1% during the third quarter. Xponance Inc. now owns 45,618 shares of the company’s stock worth $1,005,000 after buying an additional 2,629 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Mattel during the third quarter worth $468,000. 97.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MAT shares. JPMorgan Chase & Co. downgraded Mattel from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $24.00 to $19.00 in a report on Monday, February 5th. Roth Mkm reiterated a “neutral” rating and set a $21.00 price target on shares of Mattel in a report on Wednesday, April 24th. Jefferies Financial Group upped their price objective on Mattel from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Stifel Nicolaus reduced their price objective on Mattel from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Finally, TheStreet cut Mattel from a “b-” rating to a “c+” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.78.

Mattel Stock Performance

Shares of MAT opened at $18.08 on Thursday. The stock’s 50-day simple moving average is $19.23 and its 200 day simple moving average is $19.00. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.95. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.88 and a current ratio of 2.49. Mattel, Inc. has a 52-week low of $16.20 and a 52-week high of $22.64.

Mattel (NASDAQ:MAT) last released its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. Mattel had a return on equity of 24.32% and a net margin of 5.38%. The firm had revenue of $809.50 million for the quarter, compared to analysts’ expectations of $833.52 million. During the same quarter last year, the firm posted ($0.24) EPS. The company’s revenue was down .6% compared to the same quarter last year. Research analysts forecast that Mattel, Inc. will post 1.4 EPS for the current fiscal year.

Mattel Company 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.