Mattel Inc. (MAT) Upgraded to Buy at MKM Partners
Mattel Inc. (NASDAQ:MAT) was upgraded by investment analysts at MKM Partners from a “neutral” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $36.00 price objective on the stock. MKM Partners’ price objective would suggest a potential upside of 19.76% from the company’s previous close.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised Mattel from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, June 21st. Citigroup Inc. raised their price objective on Mattel from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Vetr raised Mattel from a “sell” rating to a “buy” rating and set a $36.30 price objective for the company in a research report on Monday, August 15th. B. Riley reaffirmed a “buy” rating and set a $38.00 price objective on shares of Mattel in a research report on Tuesday, July 26th. Finally, Monness Crespi & Hardt raised Mattel from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, September 19th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.48.
Mattel (NASDAQ:MAT) opened at 30.06 on Monday. Mattel has a 52-week low of $22.00 and a 52-week high of $34.76. The stock has a market cap of $10.24 billion, a PE ratio of 29.76 and a beta of 0.99. The firm has a 50-day moving average price of $32.03 and a 200 day moving average price of $32.17.
Mattel (NASDAQ:MAT) last announced its 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. Mattel had a return on equity of 16.23% and a net margin of 6.17%. The firm earned $957.30 million during the quarter, compared to analyst estimates of $937.85 million. During the same quarter in the prior year, the company earned $0.01 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. On average, analysts forecast that Mattel will post $1.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders 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 dividend on an annualized basis and a yield of 5.06%. Mattel’s dividend payout ratio is presently 149.02%.
In other news, EVP Geoffrey H. Walker sold 7,128 shares of Mattel stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $33.57, for a total value of $239,286.96. Following the sale, the executive vice president now directly owns 39,348 shares of the company’s stock, valued at $1,320,912.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.
Several large investors have recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in shares of Mattel by 28.5% in the second quarter. Alps Advisors Inc. now owns 851,254 shares of the company’s stock valued at $26,636,000 after buying an additional 188,960 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Mattel during the first quarter valued at about $51,966,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Mattel by 3.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 510,142 shares of the company’s stock valued at $17,151,000 after buying an additional 16,000 shares during the period. Shell Asset Management Co. boosted its stake in shares of Mattel by 9.9% in the second quarter. Shell Asset Management Co. now owns 340,767 shares of the company’s stock valued at $10,663,000 after buying an additional 30,576 shares during the period. Finally, HL Financial Services LLC boosted its stake in shares of Mattel by 2.8% in the second quarter. HL Financial Services LLC now owns 1,795,493 shares of the company’s stock valued at $56,181,000 after buying an additional 49,644 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.
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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