Seven Eight Capital LP Acquires 101,003 Shares of Newell Brands Inc. (NASDAQ:NWL)

Seven Eight Capital LP lifted its holdings in Newell Brands Inc. (NASDAQ:NWL) by 292.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,571 shares of the company’s stock after buying an additional 101,003 shares during the quarter. Seven Eight Capital LP’s holdings in Newell Brands were worth $869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Newell Brands in the fourth quarter worth about $32,781,000. Dimensional Fund Advisors LP raised its position in Newell Brands by 29.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after purchasing an additional 2,668,384 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Newell Brands by 35.1% during the 4th quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock worth $73,884,000 after buying an additional 2,209,672 shares in the last quarter. M&G Plc bought a new position in Newell Brands in the 1st quarter valued at $9,992,000. Finally, Vanguard Group Inc. increased its stake in shares of Newell Brands by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock valued at $389,670,000 after buying an additional 739,295 shares during the period. Institutional investors and hedge funds own 92.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NWL. Canaccord Genuity Group upped their price target on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.82.

Newell Brands Price Performance

Shares of NWL stock opened at $7.44 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $9.47. The firm has a fifty day moving average of $7.33 and a 200-day moving average of $7.35. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -10.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.91.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, equities research analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.76%. Newell Brands’s dividend payout ratio (DPR) is currently -38.89%.

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.