Norges Bank Acquires New Stake in Mattel, Inc. $MAT

Norges Bank purchased a new stake in shares of Mattel, Inc. (NASDAQ:MAT) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,478,955 shares of the company’s stock, valued at approximately $49,182,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EdgePoint Investment Group Inc. boosted its holdings in shares of Mattel by 9.4% in the third quarter. EdgePoint Investment Group Inc. now owns 44,662,760 shares of the company’s stock worth $751,674,000 after acquiring an additional 3,839,176 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Mattel by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,517,597 shares of the company’s stock valued at $160,184,000 after purchasing an additional 401,469 shares during the period. LSV Asset Management lifted its holdings in Mattel by 1.8% during the 4th quarter. LSV Asset Management now owns 6,126,432 shares of the company’s stock worth $121,548,000 after purchasing an additional 108,622 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Mattel by 50.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,153,851 shares of the company’s stock worth $80,709,000 after purchasing an additional 1,393,000 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Mattel by 11.4% in the 3rd quarter. Invesco Ltd. now owns 3,112,189 shares of the company’s stock worth $52,378,000 after purchasing an additional 318,971 shares during the period. Institutional investors own 97.15% of the company’s stock.

Mattel Price Performance

Shares of Mattel stock opened at $14.08 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.50 and a current ratio of 2.06. Mattel, Inc. has a 52-week low of $13.95 and a 52-week high of $22.48. The company has a fifty day moving average of $14.77 and a 200-day moving average of $17.60. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 1.26 and a beta of 0.72.

Mattel (NASDAQ:MAT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.04. The firm had revenue of $862.17 million for the quarter, compared to the consensus estimate of $808.38 million. Mattel had a return on equity of 18.67% and a net margin of 9.27%.The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Mattel has set its FY 2026 guidance at 1.270-1.390 EPS. Equities research analysts expect that Mattel, Inc. will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Mattel from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, March 4th. Morgan Stanley set a $18.00 target price on shares of Mattel in a research note on Wednesday, February 11th. Citigroup downgraded shares of Mattel from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $16.00 in a report on Wednesday, February 11th. DA Davidson decreased their price target on shares of Mattel from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Mattel from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Mattel currently has an average rating of “Hold” and a consensus price target of $18.22.

Mattel Company Profile

Mattel, Inc is a leading global toy company headquartered in El Segundo, California. Founded in 1945 by Harold “Matt” Matson and Elliot and Ruth Handler, the company has grown into a major player in the toy and family products industry. Mattel designs, manufactures, and markets a broad range of toys, games and entertainment products under well-known brands, including Barbie, Hot Wheels, Fisher-Price, American Girl, Thomas & Friends, UNO and Matchbox. In addition to its proprietary labels, Mattel holds licenses with global entertainment franchises, partnering with Disney, Warner Bros., WWE and other studios to create character-driven play experiences.