PNC Financial Services Group Inc. Decreases Stake in Mattel, Inc. (NASDAQ:MAT)

PNC Financial Services Group Inc. cut its holdings in Mattel, Inc. (NASDAQ:MAT) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,257 shares of the company’s stock after selling 2,230 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mattel were worth $727,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Mattel by 1.6% during the second quarter. Vanguard Group Inc. now owns 31,863,935 shares of the company’s stock worth $640,465,000 after purchasing an additional 516,450 shares in the last quarter. Ariel Investments LLC boosted its position in Mattel by 2.0% during the second quarter. Ariel Investments LLC now owns 15,620,180 shares of the company’s stock worth $313,966,000 after purchasing an additional 310,333 shares in the last quarter. FMR LLC boosted its position in Mattel by 28.7% during the second quarter. FMR LLC now owns 9,643,775 shares of the company’s stock worth $193,839,000 after purchasing an additional 2,148,781 shares in the last quarter. State Street Corp boosted its position in Mattel by 13.6% during the second quarter. State Street Corp now owns 9,047,165 shares of the company’s stock worth $181,848,000 after purchasing an additional 1,084,357 shares in the last quarter. Finally, Capital International Investors boosted its position in Mattel by 37.1% during the second quarter. Capital International Investors now owns 7,067,771 shares of the company’s stock worth $142,062,000 after purchasing an additional 1,914,032 shares in the last quarter. Hedge funds and other institutional investors own 99.07% of the company’s stock.

Shares of Mattel stock opened at $22.33 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.10 and a debt-to-equity ratio of 1.96. The business’s 50 day simple moving average is $21.70 and its 200-day simple moving average is $20.95. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 9.67 and a beta of 1.59. Mattel, Inc. has a twelve month low of $16.92 and a twelve month high of $23.31.

Mattel (NASDAQ:MAT) last announced its quarterly earnings results on Thursday, October 21st. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Mattel had a return on equity of 57.56% and a net margin of 15.55%. During the same period in the prior year, the firm earned $0.95 EPS. Sell-side analysts predict that Mattel, Inc. will post 1.12 earnings per share for the current year.

Several analysts have recently issued reports on MAT shares. DA Davidson restated a “buy” rating on shares of Mattel in a research report on Wednesday, December 29th. TheStreet upgraded Mattel from a “c+” rating to a “b-” rating in a research report on Thursday, October 21st. Zacks Investment Research downgraded Mattel from a “strong-buy” rating to a “sell” rating and set a $21.00 price objective on the stock. in a research report on Tuesday, September 28th. Stifel Nicolaus dropped their target price on Mattel from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, October 4th. Finally, MKM Partners upgraded Mattel from a “neutral” rating to a “buy” rating and upped their target price for the company from $24.00 to $30.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mattel has a consensus rating of “Buy” and a consensus target price of $26.32.

About Mattel

Mattel, Inc is a global children’s entertainment company that specializes in the design and production of toys and consumer products. The company engages consumers through its portfolio of iconic franchises, including Barbie, Hot Wheels, American Girl, Fisher-Price, Thomas & Friends, UNO and MEGA. It operates through the following segments: North America, International and American Girl.

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Institutional Ownership by Quarter for Mattel (NASDAQ:MAT)

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