Geode Capital Management LLC Has $69.13 Million Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Geode Capital Management LLC increased its holdings in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,938,654 shares of the company's stock after buying an additional 303,371 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Newell Brands worth $69,132,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new position in shares of Newell Brands in the fourth quarter valued at approximately $72,431,000. Norges Bank bought a new position in Newell Brands during the 4th quarter valued at $37,174,000. Arrowstreet Capital Limited Partnership increased its position in shares of Newell Brands by 214.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company's stock valued at $33,357,000 after purchasing an additional 2,282,949 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Newell Brands by 43.7% in the fourth quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company's stock valued at $67,637,000 after buying an additional 2,066,599 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Newell Brands by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company's stock worth $467,053,000 after acquiring an additional 1,974,823 shares during the period. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NWL shares. Wells Fargo & Company cut their price target on shares of Newell Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, April 2nd. Barclays raised their target price on shares of Newell Brands from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Royal Bank of Canada decreased their price target on shares of Newell Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a research report on Monday, February 10th. UBS Group raised their price objective on Newell Brands from $9.50 to $10.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group decreased their target price on Newell Brands from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $9.81.

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Newell Brands Stock Down 5.2 %

Shares of NWL traded down $0.26 during mid-day trading on Tuesday, reaching $4.73. The company's stock had a trading volume of 9,191,488 shares, compared to its average volume of 6,629,921. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -9.10, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84. The business has a fifty day moving average of $6.36 and a 200 day moving average of $8.30. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. Newell Brands Inc. has a 1 year low of $4.22 and a 1 year high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same period in the prior year, the company posted $0.22 earnings per share. As a group, analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend was Friday, February 28th. Newell Brands's dividend payout ratio is currently -53.85%.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.