Monness Crespi & Hardt upgraded shares of Mattel Inc. (NASDAQ:MAT) from a neutral rating to a buy rating in a research note issued to investors on Monday morning. They currently have $37.00 target price on the stock.
Several other research firms have also commented on MAT. Vetr raised shares of Mattel from a sell rating to a buy rating and set a $36.30 price target on the stock in a report on Monday, August 15th. Zacks Investment Research raised shares of Mattel from a hold rating to a buy rating and set a $36.00 price target on the stock in a report on Tuesday, June 21st. MKM Partners reaffirmed a hold rating and issued a $33.00 price target on shares of Mattel in a report on Tuesday, July 12th. B. Riley reaffirmed a buy rating and issued a $38.00 price target on shares of Mattel in a report on Wednesday, May 25th. Finally, Piper Jaffray Cos. reaffirmed a neutral rating and issued a $30.00 price target (up from $28.00) on shares of Mattel in a report on Friday, July 22nd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Mattel presently has an average rating of Buy and an average target price of $35.07.
Shares of Mattel (NASDAQ:MAT) opened at 31.87 on Monday. The stock has a 50 day moving average price of $32.98 and a 200 day moving average price of $32.33. Mattel has a one year low of $19.45 and a one year high of $34.76. The company has a market capitalization of $10.86 billion, a PE ratio of 31.55 and a beta of 0.93.
Mattel (NASDAQ:MAT) last released its earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Mattel had a return on equity of 16.23% and a net margin of 6.17%. The firm had revenue of $957.30 million for the quarter, compared to the consensus estimate of $937.85 million. During the same period in the prior year, the firm earned $0.01 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts predict that Mattel will post $1.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, August 23rd were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.77%. Mattel’s dividend payout ratio is currently 149.02%.
In other news, EVP Geoffrey H. Walker sold 7,128 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 39,348 shares in the company, valued at approximately $1,320,912.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Bollard Group LLC increased its stake in shares of Mattel by 1.2% in the second quarter. Bollard Group LLC now owns 4,078 shares of the company’s stock worth $128,000 after buying an additional 48 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in shares of Mattel by 130.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,258 shares of the company’s stock worth $133,000 after buying an additional 2,410 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Mattel by 4.2% in the second quarter. Checchi Capital Advisers LLC now owns 5,573 shares of the company’s stock worth $174,000 after buying an additional 226 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Mattel by 67.1% in the first quarter. IFP Advisors Inc now owns 5,265 shares of the company’s stock worth $177,000 after buying an additional 2,114 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Mattel by 268.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,688 shares of the company’s stock worth $178,000 after buying an additional 4,144 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.
Mattel Company Profile
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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