Mattel Inc. (MAT) Upgraded to Buy at MKM Partners
Mattel Inc. (NASDAQ:MAT) was upgraded by analysts at MKM Partners from a “neutral” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $36.00 price target on the stock. MKM Partners’ price target would suggest a potential upside of 19.76% from the company’s current price.
Other analysts also recently issued research reports about the stock. Citigroup Inc. raised their price target on shares of Mattel from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, August 15th. B. Riley restated a “buy” rating and set a $38.00 price target on shares of Mattel in a report on Tuesday, July 26th. Jefferies Group set a $36.00 price target on shares of Mattel and gave the stock a “buy” rating in a report on Thursday, July 21st. Vetr upgraded shares of Mattel from a “sell” rating to a “buy” rating and set a $36.30 price target for the company in a report on Monday, August 15th. Finally, Zacks Investment Research upgraded shares of Mattel from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $35.48.
Mattel (NASDAQ:MAT) opened at 30.06 on Monday. The company has a market cap of $10.24 billion, a P/E ratio of 29.76 and a beta of 0.99. Mattel has a 52 week low of $22.00 and a 52 week high of $34.76. The company has a 50-day moving average of $32.03 and a 200-day moving average of $32.17.
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Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. The business earned $957.30 million during the quarter, compared to the consensus estimate of $937.85 million. Mattel had a net margin of 6.17% and a return on equity of 16.23%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. On average, equities research analysts predict that Mattel will post $1.34 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, August 23rd were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $1.52 annualized dividend and a yield of 5.06%. Mattel’s dividend payout ratio is currently 149.02%.
In related news, EVP Geoffrey H. Walker sold 7,128 shares of Mattel stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total transaction of $239,286.96. Following the sale, the executive vice president now directly owns 39,348 shares in the company, valued at approximately $1,320,912.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MAT. Vanguard Group Inc. raised its position in Mattel by 3.5% in the second quarter. Vanguard Group Inc. now owns 30,549,988 shares of the company’s stock worth $955,908,000 after buying an additional 1,019,897 shares in the last quarter. FMR LLC raised its position in Mattel by 23.9% in the second quarter. FMR LLC now owns 17,320,223 shares of the company’s stock worth $541,949,000 after buying an additional 3,344,171 shares in the last quarter. Janus Capital Management LLC raised its position in Mattel by 2.4% in the second quarter. Janus Capital Management LLC now owns 13,524,795 shares of the company’s stock worth $423,187,000 after buying an additional 316,838 shares in the last quarter. Bank of New York Mellon Corp raised its position in Mattel by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 10,548,923 shares of the company’s stock worth $330,074,000 after buying an additional 291,707 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Mattel by 8.1% in the second quarter. BlackRock Fund Advisors now owns 9,984,611 shares of the company’s stock worth $312,418,000 after buying an additional 746,432 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.
Mattel, Inc manufactures and markets a range of toy products around the world. The Company’s segments are North America; International and American Girl. Its portfolio of brands and products are grouped into approximately four major brand categories, including Mattel Girls & Boys Brands, Fisher-Price Brands, American Girl Brands and Construction and Arts & Crafts Brands.
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