Newell Brands Inc. (NWL) Shares Sold by Wells Fargo & Company MN
Wells Fargo & Company MN trimmed its position in Newell Brands Inc. (NYSE:NWL) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,737,088 shares of the company’s stock after selling 150,113 shares during the quarter. Wells Fargo & Company MN owned approximately 0.36% of Newell Brands worth $93,143,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Newell Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 46,571,725 shares of the company’s stock valued at $2,196,788,000 after purchasing an additional 1,584,954 shares during the period. BlackRock Inc. raised its holdings in shares of Newell Brands by 3,249.0% in the 1st quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after purchasing an additional 29,079,686 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Newell Brands by 112.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Newell Brands by 6.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,876,886 shares of the company’s stock valued at $465,892,000 after purchasing an additional 563,331 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Newell Brands by 3.6% in the 1st quarter. Neuberger Berman Group LLC now owns 7,205,042 shares of the company’s stock valued at $339,862,000 after purchasing an additional 249,524 shares during the period. 92.43% of the stock is currently owned by institutional investors.
NWL has been the topic of several research analyst reports. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 price target (down from $66.00) on shares of Newell Brands in a report on Monday, August 7th. BidaskClub raised shares of Newell Brands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price target on shares of Newell Brands in a report on Thursday, June 8th. Finally, J P Morgan Chase & Co set a $61.00 price target on shares of Newell Brands and gave the company a “buy” rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $57.36.
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Newell Brands Inc. (NYSE NWL) opened at 44.35 on Wednesday. The firm has a 50-day moving average of $49.68 and a 200-day moving average of $50.29. The stock has a market capitalization of $21.74 billion, a PE ratio of 17.71 and a beta of 1.19. Newell Brands Inc. has a 1-year low of $42.88 and a 1-year high of $55.08.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. Equities analysts expect that Newell Brands Inc. will post $3.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s payout ratio is 36.95%.
Newell Brands Company Profile
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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