Commonwealth Equity Services LLC Raises Stake in Newell Brands Inc. (NASDAQ:NWL)

Commonwealth Equity Services LLC increased its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,633 shares of the company’s stock after buying an additional 5,448 shares during the period. Commonwealth Equity Services LLC’s holdings in Newell Brands were worth $1,072,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NWL. Hennessy Advisors Inc. acquired a new position in shares of Newell Brands during the 4th quarter valued at about $72,431,000. Victory Capital Management Inc. boosted its stake in 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 acquiring an additional 2,066,599 shares in the last quarter. Geode Capital Management LLC boosted its stake in Newell Brands by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock worth $50,973,000 after purchasing an additional 115,459 shares during the period. FMR LLC raised its stake in shares of Newell Brands by 21.5% during the third quarter. FMR LLC now owns 4,354,913 shares of the company’s stock worth $33,446,000 after purchasing an additional 770,717 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in Newell Brands by 2.7% during the 4th quarter. King Luther Capital Management Corp now owns 4,291,213 shares of the company’s stock worth $42,740,000 after purchasing an additional 111,614 shares during the period. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company decreased their price objective on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Finally, Canaccord Genuity Group reduced their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and an average target price of $10.81.

Newell Brands Stock Down 3.0 %

Shares of Newell Brands stock opened at $6.20 on Tuesday. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $11.78. The stock has a 50-day simple moving average of $7.58 and a 200-day simple moving average of $8.51. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -11.92, 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 current ratio of 1.14 and a quick ratio of 0.56.

Newell Brands (NASDAQ:NWL) last issued 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 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 EPS. On average, equities research analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.28 annualized dividend and a yield of 4.52%. Newell Brands’s dividend payout ratio is currently -53.85%.

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.