Charles Schwab Investment Management Inc. Lowers Holdings in Mattel, Inc. (NASDAQ:MAT)

Charles Schwab Investment Management Inc. cut its holdings in Mattel, Inc. (NASDAQ:MAT) by 4.6% during the first quarter, Holdings Channel reports. The firm owned 4,190,321 shares of the company’s stock after selling 200,354 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Mattel were worth $81,418,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its holdings in Mattel by 995.8% in the 1st quarter. Trust Co. of Vermont now owns 1,315 shares of the company’s stock worth $26,000 after purchasing an additional 1,195 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Mattel by 52.9% during the 1st quarter. Fifth Third Bancorp now owns 2,780 shares of the company’s stock worth $54,000 after acquiring an additional 962 shares in the last quarter. Quarry LP raised its holdings in shares of Mattel by 130.3% during the 4th quarter. Quarry LP now owns 3,148 shares of the company’s stock worth $56,000 after acquiring an additional 1,781 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Mattel by 93.5% during the 1st quarter. UMB Bank n.a. now owns 2,995 shares of the company’s stock worth $58,000 after acquiring an additional 1,447 shares in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of Mattel by 10,226.7% during the 1st quarter. Sound Income Strategies LLC now owns 3,098 shares of the company’s stock worth $60,000 after acquiring an additional 3,068 shares in the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MAT. The Goldman Sachs Group decreased their price objective on Mattel from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. DA Davidson reaffirmed a “buy” rating and set a $30.00 price objective on shares of Mattel in a report on Thursday, May 15th. Wall Street Zen cut Mattel from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Morgan Stanley upped their price objective on Mattel from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. upped their price objective on Mattel from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.38.

Mattel Stock Performance

NASDAQ MAT opened at $18.27 on Thursday. The company has a market cap of $5.89 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.18 and a beta of 0.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.12 and a current ratio of 1.62. The business’s 50 day moving average price is $18.89 and its 200-day moving average price is $18.80. Mattel, Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $22.07.

Mattel (NASDAQ:MAT) last released its earnings results on Wednesday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.09 billion. Mattel had a return on equity of 25.19% and a net margin of 9.87%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS. Sell-side analysts predict that Mattel, Inc. will post 1.7 earnings per share for the current year.

About Mattel

Mattel, Inc, a toy and family entertainment company, designs, manufactures, and markets toys and consumer products in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through North America, International, and American Girl segments. It offers dolls and accessories, as well as books, content, gaming, and lifestyle products for children under the Barbie, American Girl, Disney Princess and Disney Frozen, Monster High, and Polly Pocket brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels Mario Kart, Matchbox, and Cars brand names; and infant, toddler, and preschool products comprising content, toys, live events, and other consumer products under the Fisher-Price, Little People and Imaginext, and Thomas & Friends, and Power wheels brands.