Newell Brands Inc (NWL) Holdings Decreased by JPMorgan Chase & Co.
JPMorgan Chase & Co. cut its holdings in shares of Newell Brands Inc (NYSE:NWL) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,941,570 shares of the company’s stock after selling 1,854,123 shares during the quarter. JPMorgan Chase & Co.’s holdings in Newell Brands were worth $75,804,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Newell Brands by 8.4% in the 4th quarter. BlackRock Inc. now owns 44,659,043 shares of the company’s stock valued at $830,211,000 after purchasing an additional 3,470,954 shares during the period. Pzena Investment Management LLC boosted its stake in Newell Brands by 35.6% in the 1st quarter. Pzena Investment Management LLC now owns 24,817,839 shares of the company’s stock valued at $380,706,000 after purchasing an additional 6,513,500 shares during the period. Geode Capital Management LLC boosted its stake in Newell Brands by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 6,103,942 shares of the company’s stock valued at $113,388,000 after purchasing an additional 660,185 shares during the period. Norges Bank bought a new stake in Newell Brands in the 4th quarter valued at $96,020,000. Finally, Northern Trust Corp boosted its stake in Newell Brands by 4.9% in the 4th quarter. Northern Trust Corp now owns 4,876,797 shares of the company’s stock valued at $90,660,000 after purchasing an additional 226,519 shares during the period. 98.42% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on NWL. Zacks Investment Research downgraded Newell Brands from a “buy” rating to a “sell” rating in a research note on Thursday, February 21st. Royal Bank of Canada reduced their price target on Newell Brands from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 19th. Wells Fargo & Co reiterated an “outperform” rating and set a $21.00 target price (down from $36.00) on shares of Newell Brands in a research report on Tuesday, February 19th. Citigroup set a $24.00 target price on Newell Brands and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, Barclays set a $16.00 target price on Newell Brands and gave the company a “hold” rating in a research report on Tuesday, February 19th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Newell Brands currently has a consensus rating of “Hold” and an average target price of $20.80.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, May 3rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. On average, research analysts expect that Newell Brands Inc will post 1.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.11%. Newell Brands’s payout ratio is 33.45%.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
Featured Story: Municipal Bonds
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc (NYSE:NWL).
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.