Mattel Inc. (MAT) Given Consensus Recommendation of “Buy” by Brokerages
Mattel Inc. (NASDAQ:MAT) has been assigned an average recommendation of “Buy” from the nineteen brokerages that are presently covering the company. Five research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $35.48.
A number of research firms recently issued reports on MAT. Citigroup Inc. increased their price objective on Mattel from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, August 15th. B. Riley reiterated a “buy” rating and set a $38.00 price objective on shares of Mattel in a report on Tuesday, July 26th. Jefferies Group set a $36.00 price objective on Mattel and gave the stock a “buy” rating in a report on Thursday, July 21st. MKM Partners reiterated a “hold” rating and set a $33.00 price objective on shares of Mattel in a report on Tuesday, July 12th. Finally, Vetr upgraded Mattel from a “sell” rating to a “buy” rating and set a $36.30 price objective for the company in a report on Monday, August 15th.
In related news, EVP Geoffrey H. Walker sold 7,128 shares of Mattel stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $33.57, for a total transaction of $239,286.96. Following the completion of the sale, the executive vice president now directly owns 39,348 shares of the company’s stock, valued at approximately $1,320,912.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.
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A number of institutional investors have recently bought and sold shares of the company. 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 during the period. 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 during the period. 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 during the period. 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 during the period. 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 during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.
Shares of Mattel (NASDAQ:MAT) traded up 0.88% on Wednesday, reaching $29.70. The company’s stock had a trading volume of 1,144,129 shares. The company’s 50 day moving average is $31.84 and its 200-day moving average is $32.13. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 29.41 and a beta of 0.99. Mattel has a 1-year low of $22.00 and a 1-year high of $34.76.
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 consensus estimate of ($0.05) by $0.03. The company earned $957.30 million during the quarter, compared to the consensus estimate of $937.85 million. Mattel had a return on equity of 16.23% and a net margin of 6.17%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 earnings per share. Equities research analysts expect that Mattel will post $1.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Tuesday, August 23rd were issued a dividend of $0.38 per share. The ex-dividend date was Friday, August 19th. This represents a $1.52 annualized dividend and a yield of 5.16%. Mattel’s payout ratio is currently 149.02%.
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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