Banque Pictet & Cie SA cut its position in shares of Newell Brands (NYSE:NWL) by 27.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,275 shares of the company’s stock after selling 82,381 shares during the period. Banque Pictet & Cie SA’s holdings in Newell Brands were worth $5,536,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in shares of Newell Brands by 106.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 26,278 shares of the company’s stock worth $672,000 after purchasing an additional 13,526 shares in the last quarter. Intact Investment Management Inc. raised its stake in shares of Newell Brands by 81.5% during the 1st quarter. Intact Investment Management Inc. now owns 121,600 shares of the company’s stock worth $3,098,000 after purchasing an additional 54,600 shares in the last quarter. HGK Asset Management Inc. raised its stake in shares of Newell Brands by 24.6% during the 1st quarter. HGK Asset Management Inc. now owns 472,367 shares of the company’s stock worth $12,036,000 after purchasing an additional 93,275 shares in the last quarter. Tiverton Asset Management LLC purchased a new stake in shares of Newell Brands during the 1st quarter worth about $194,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Newell Brands by 21.4% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,020,763 shares of the company’s stock worth $26,009,000 after purchasing an additional 180,000 shares in the last quarter. 90.50% of the stock is owned by institutional investors.
Shares of Newell Brands opened at $27.02 on Friday, Marketbeat reports. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 0.68. Newell Brands has a twelve month low of $26.06 and a twelve month high of $26.46. The company has a market capitalization of $12.79 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.61 and a beta of 0.80.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, May 4th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.08. Newell Brands had a return on equity of 10.05% and a net margin of 14.93%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business earned $0.34 EPS. The firm’s revenue was down 7.6% compared to the same quarter last year. research analysts forecast that Newell Brands will post 2.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, May 30th. Newell Brands’s payout ratio is 33.45%.
A number of research firms have recently weighed in on NWL. BMO Capital Markets cut their price target on Newell Brands to $25.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Zacks Investment Research downgraded Newell Brands from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Vetr raised Newell Brands from a “buy” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research note on Monday, March 26th. Bank of America downgraded Newell Brands from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $35.00 price target on shares of Newell Brands in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $31.44.
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.
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