TIAA CREF Investment Management LLC Trims Holdings in Mattel (MAT)

TIAA CREF Investment Management LLC lowered its position in Mattel (NASDAQ:MAT) by 41.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,259,894 shares of the company’s stock after selling 1,584,134 shares during the period. TIAA CREF Investment Management LLC’s holdings in Mattel were worth $34,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAT. Parnassus Investments CA lifted its stake in Mattel by 33.2% in the fourth quarter. Parnassus Investments CA now owns 21,391,928 shares of the company’s stock valued at $329,008,000 after buying an additional 5,327,564 shares during the last quarter. Franklin Resources Inc. lifted its stake in Mattel by 102.2% in the fourth quarter. Franklin Resources Inc. now owns 3,112,937 shares of the company’s stock valued at $47,877,000 after buying an additional 1,573,028 shares during the last quarter. Sei Investments Co. lifted its stake in Mattel by 144.8% in the fourth quarter. Sei Investments Co. now owns 2,142,172 shares of the company’s stock valued at $32,946,000 after buying an additional 1,266,982 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Mattel in the third quarter valued at approximately $13,045,000. Finally, Ariel Investments LLC lifted its stake in Mattel by 10.1% in the fourth quarter. Ariel Investments LLC now owns 9,151,114 shares of the company’s stock valued at $140,744,000 after buying an additional 837,481 shares during the last quarter. Institutional investors own 93.86% of the company’s stock.

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MAT has been the subject of a number of research reports. Citigroup boosted their price objective on Mattel from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. UBS set a $18.00 price objective on Mattel and gave the company a “buy” rating in a research note on Wednesday, February 21st. Barclays boosted their price objective on Mattel from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price objective on shares of Mattel in a research note on Monday, January 29th. Finally, Jefferies Group set a $14.00 price objective on Mattel and gave the company a “hold” rating in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.83.

Mattel stock opened at $13.23 on Friday. The stock has a market capitalization of $4,550.10, a P/E ratio of -4.32 and a beta of 0.94. The company has a quick ratio of 1.55, a current ratio of 1.92 and a debt-to-equity ratio of 2.28. Mattel has a twelve month low of $12.71 and a twelve month high of $25.97.

Mattel (NASDAQ:MAT) last released its earnings results on Thursday, February 1st. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.93). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.69 billion. Mattel had a negative net margin of 21.59% and a negative return on equity of 21.37%. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. sell-side analysts forecast that Mattel will post -0.07 EPS for the current year.

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Mattel Profile

Mattel, Inc designs, manufactures, and markets a range of toy products worldwide. The company operates in three segments: North America, International, and American Girl. It offers Mattel Girls & Boys branded products, including Barbie dolls and accessories, Monster High, DC Super Hero Girls, Enchantimals, Polly Pocket, Hot Wheels and Matchbox vehicles and play sets, CARS, DC Comics, WWE Wrestling, Minecraft, Toy Story, and games and puzzles.

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Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

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