Fintel reports that on July 27, 2023, JP Morgan maintained coverage of Mattel (NASDAQ:MAT) with a Overweight recommendation.

Analyst Price Forecast Suggests 7.38% Upside

As of July 6, 2023, the average one-year price target for Mattel is 22.89. The forecasts range from a low of 18.18 to a high of $27.30. The average price target represents an increase of 7.38% from its latest reported closing price of 21.32.

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The projected annual revenue for Mattel is 6,043MM, an increase of 19.44%. The projected annual non-GAAP EPS is 1.72.

What is the Fund Sentiment?

There are 727 funds or institutions reporting positions in Mattel. This is a decrease of 55 owner(s) or 7.03% in the last quarter. Average portfolio weight of all funds dedicated to MAT is 0.20%, a decrease of 5.30%. Total shares owned by institutions decreased in the last three months by 2.57% to 423,146K shares. The put/call ratio of MAT is 0.26, indicating a bullish outlook.

What are Other Shareholders Doing?

Primecap Management holds 43,648K shares representing 12.33% ownership of the company. In it's prior filing, the firm reported owning 44,346K shares, representing a decrease of 1.60%. The firm decreased its portfolio allocation in MAT by 3.26% over the last quarter.

EdgePoint Investment Group holds 42,614K shares representing 12.04% ownership of the company. In it's prior filing, the firm reported owning 44,196K shares, representing a decrease of 3.71%. The firm decreased its portfolio allocation in MAT by 6.36% over the last quarter.

VPMCX - Vanguard PRIMECAP Fund Investor Shares holds 27,303K shares representing 7.71% ownership of the company. In it's prior filing, the firm reported owning 27,318K shares, representing a decrease of 0.05%. The firm decreased its portfolio allocation in MAT by 2.66% over the last quarter.

Capital International Investors holds 16,969K shares representing 4.79% ownership of the company. In it's prior filing, the firm reported owning 16,966K shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in MAT by 1.08% over the last quarter.

AGTHX - GROWTH FUND OF AMERICA holds 16,565K shares representing 4.68% ownership of the company. In it's prior filing, the firm reported owning 22,519K shares, representing a decrease of 35.95%. The firm decreased its portfolio allocation in MAT by 32.42% over the last quarter.

Mattel Background Information
(This description is provided by the company.)

Mattel is a leading global toy company and owner of one of the strongest catalogs of children's and family entertainment franchises in the world. Mattel creates innovative products and experiences that inspire, entertain and develop children through play. Mattel engages consumers through our portfolio of iconic brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO® and MEGA®, as well as other popular intellectual properties that Mattel owns or licenses in partnership with global entertainment companies. Its offerings include film and television content, gaming, music and live events. Mattel operates in 35 locations and our products are available in more than 150 countries in collaboration with the world's leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering children to explore the wonder of childhood and reach their full potential.

Additional reading:

• MATTEL REPORTS SECOND QUARTER 2023 FINANCIAL RESULTS
• Mattel Announces Departure of Richard Dickson, President and Chief Operating Officer Lisa McKnight and Josh Silverman Promoted to EVP and Chief Brand Officer and EVP and Chief Franchise Officer, respectively Chris Down Promoted to EVP and Chief Desig
• MATTEL, INC. AMENDED AND RESTATED 2010 EQUITY AND LONG-TERM COMPENSATION PLAN
• MATTEL REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS
• Professor Noreena Hertz Appointed to Mattel Board of Directors