Mattel Inc. (NASDAQ:MAT) was upgraded by equities researchers at MKM Partners from a “neutral” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $36.00 target price on the stock. MKM Partners’ price target points to a potential upside of 22.28% from the company’s previous close.
A number of other research firms also recently issued reports on MAT. Vetr upgraded Mattel from a “sell” rating to a “buy” rating and set a $36.30 price target for the company in a research note on Monday, August 15th. Citigroup Inc. boosted their target price on Mattel from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. B. Riley restated a “buy” rating and issued a $38.00 target price on shares of Mattel in a research note on Thursday, July 21st. Piper Jaffray Cos. restated a “neutral” rating and issued a $30.00 target price (up previously from $28.00) on shares of Mattel in a research note on Friday, July 22nd. Finally, Jefferies Group set a $36.00 target price on Mattel and gave the stock a “buy” rating in a research note on Thursday, July 21st. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $35.48.
Shares of Mattel (NASDAQ:MAT) opened at 29.44 on Monday. The stock’s 50 day moving average price is $31.84 and its 200-day moving average price is $32.13. The stock has a market capitalization of $10.03 billion, a P/E ratio of 29.15 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 released its quarterly earnings results on Wednesday, July 20th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.23% and a net margin of 6.17%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. Equities research analysts anticipate that Mattel will post $1.34 EPS for the current fiscal 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 $0.38 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $1.52 annualized dividend and a dividend yield of 5.16%. Mattel’s payout ratio is currently 149.02%.
In related news, EVP Geoffrey H. Walker sold 7,128 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $33.57, for a total value of $239,286.96. Following the completion of the transaction, the executive vice president now directly owns 39,348 shares in the company, valued at $1,320,912.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bollard Group LLC raised its position in shares of Mattel by 1.2% in the second quarter. Bollard Group LLC now owns 4,078 shares of the company’s stock valued at $128,000 after buying an additional 48 shares during the period. Mizuho Asset Management Co. Ltd. raised its position 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 valued at $133,000 after buying an additional 2,410 shares during the period. Checchi Capital Advisers LLC raised its position 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 valued at $174,000 after buying an additional 226 shares during the period. IFP Advisors Inc raised its position in shares of Mattel by 67.1% in the first quarter. IFP Advisors Inc now owns 5,265 shares of the company’s stock valued at $177,000 after buying an additional 2,114 shares during the period. Finally, Tower Research Capital LLC TRC raised its position 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 valued at $178,000 after buying an additional 4,144 shares during the period. 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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