Newell Brands Inc. (NASDAQ:NWL) Stock Position Cut by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,146,420 shares of the company's stock after selling 576,659 shares during the period. Primecap Management Co. CA owned about 3.40% of Newell Brands worth $140,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NWL. Smartleaf Asset Management LLC lifted its position in shares of Newell Brands by 140.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock worth $79,000 after purchasing an additional 4,617 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Newell Brands by 24.8% during the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company's stock worth $83,000 after purchasing an additional 1,666 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Newell Brands in the fourth quarter valued at $101,000. Claro Advisors LLC acquired a new stake in Newell Brands in the third quarter valued at $79,000. Finally, Jones Financial Companies Lllp raised its holdings in Newell Brands by 35.3% in the fourth quarter. Jones Financial Companies Lllp now owns 11,311 shares of the company's stock valued at $113,000 after acquiring an additional 2,954 shares in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NWL. JPMorgan Chase & Co. upped their price target on shares of Newell Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Thursday, January 16th. Barclays upped their price target on shares of Newell Brands from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Wells Fargo & Company cut their price target on shares of Newell Brands from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Canaccord Genuity Group cut their price target on shares of Newell Brands from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Finally, Truist Financial upgraded shares of Newell Brands from a "hold" rating to a "buy" rating and boosted their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Newell Brands currently has a consensus rating of "Hold" and a consensus price target of $10.81.

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Newell Brands Stock Performance

Shares of Newell Brands stock traded down $0.09 during trading on Friday, hitting $6.45. 9,785,981 shares of the stock were exchanged, compared to its average volume of 6,134,715. The stock's fifty day moving average is $8.00 and its 200 day moving average is $8.53. The stock has a market cap of $2.68 billion, a PE ratio of -12.40, a P/E/G ratio of 0.95 and a beta of 0.88. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $11.78.

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

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.07 per share. The ex-dividend date was Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 4.34%. Newell Brands's dividend payout ratio is currently -53.85%.

Newell Brands Profile

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.