Vanguard Group Inc. Sells 712,166 Shares of Mattel, Inc. (NASDAQ:MAT)

Vanguard Group Inc. cut its stake in Mattel, Inc. (NASDAQ:MAT) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,422,008 shares of the company’s stock after selling 712,166 shares during the quarter. Vanguard Group Inc. owned 10.04% of Mattel worth $629,960,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Trust Co. of Vermont grew its position in Mattel by 995.8% during the first quarter. Trust Co. of Vermont now owns 1,315 shares of the company’s stock valued at $26,000 after buying an additional 1,195 shares during the period. Fifth Third Bancorp grew its position in Mattel by 52.9% during the first quarter. Fifth Third Bancorp now owns 2,780 shares of the company’s stock valued at $54,000 after buying an additional 962 shares during the period. Quarry LP grew its position in Mattel by 130.3% during the fourth quarter. Quarry LP now owns 3,148 shares of the company’s stock valued at $56,000 after buying an additional 1,781 shares during the period. UMB Bank n.a. grew its position in Mattel by 93.5% during the first quarter. UMB Bank n.a. now owns 2,995 shares of the company’s stock valued at $58,000 after buying an additional 1,447 shares during the period. Finally, Sound Income Strategies LLC grew its position in Mattel by 10,226.7% during the first quarter. Sound Income Strategies LLC now owns 3,098 shares of the company’s stock valued at $60,000 after buying an additional 3,068 shares during the period. 97.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MAT has been the subject of several recent research reports. Wall Street Zen lowered shares of Mattel from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Morgan Stanley boosted their target price on shares of Mattel from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group reduced their price objective on shares of Mattel from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Roth Capital set a $22.00 price objective on shares of Mattel and gave the stock a “neutral” rating in a research note on Friday, July 11th. Finally, DA Davidson reissued a “buy” rating and issued a $30.00 price objective on shares of Mattel in a research note on Thursday, May 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Mattel has an average rating of “Moderate Buy” and an average target price of $24.38.

Mattel Price Performance

Shares of NASDAQ:MAT opened at $18.27 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.12 and a current ratio of 1.62. The firm has a fifty day moving average price of $18.89 and a 200 day moving average price of $18.80. Mattel, Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $22.07. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.18 and a beta of 0.62.

Mattel (NASDAQ:MAT) last issued its earnings results on Wednesday, July 23rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Mattel had a net margin of 9.87% and a return on equity of 25.19%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. Mattel’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, sell-side analysts expect that Mattel, Inc. will post 1.7 earnings per share for the current fiscal 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.