Newell Brands Inc. (NASDAQ:NWL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 90.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,620 shares of the company’s stock after selling 5,493,127 shares during the quarter. JPMorgan Chase & Co. owned about 0.14% of Newell Brands worth $4,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NWL. Victory Capital Management Inc. grew its holdings in shares of Newell Brands by 5,324.8% during the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after purchasing an additional 4,637,180 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Newell Brands by 29.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after purchasing an additional 2,668,384 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock worth $127,629,000 after buying an additional 2,634,114 shares during the last quarter. AQR Capital Management LLC lifted its stake in Newell Brands by 106.7% in the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock valued at $16,042,000 after buying an additional 1,314,514 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Newell Brands by 21.5% in the third quarter. FMR LLC now owns 4,354,913 shares of the company’s stock valued at $33,446,000 after acquiring an additional 770,717 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NWL shares. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $17.00 in a report on Monday, December 9th. Barclays lifted their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group boosted their price target on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given 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 target price of $10.70.

Insider Activity at Newell Brands

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Newell Brands Price Performance

Shares of NWL opened at $10.12 on Friday. The firm has a market capitalization of $4.21 billion, a PE ratio of -16.87, a P/E/G ratio of 0.86 and a beta of 0.89. The stock’s 50 day moving average is $9.90 and its two-hundred day moving average is $8.27. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.78. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. Newell Brands’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Research analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.07 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.77%. Newell Brands’s dividend payout ratio is presently -46.67%.

Newell Brands Company 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.