Teachers Retirement System of The State of Kentucky reduced its position in Newell Brands Inc (NYSE:NWL) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 475,189 shares of the company’s stock after selling 51,500 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.10% of Newell Brands worth $14,684,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of NWL. Franklin Resources Inc. lifted its stake in Newell Brands by 178.9% during the 4th quarter. Franklin Resources Inc. now owns 7,716,072 shares of the company’s stock valued at $238,427,000 after acquiring an additional 4,949,143 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Newell Brands by 211.5% during the 4th quarter. OppenheimerFunds Inc. now owns 5,210,352 shares of the company’s stock valued at $161,001,000 after acquiring an additional 3,537,489 shares in the last quarter. Geode Capital Management LLC lifted its stake in Newell Brands by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 5,184,895 shares of the company’s stock valued at $159,881,000 after acquiring an additional 199,770 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Newell Brands by 7.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 4,361,072 shares of the company’s stock valued at $134,757,000 after acquiring an additional 296,965 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Newell Brands by 7.0% during the 3rd quarter. King Luther Capital Management Corp now owns 3,427,042 shares of the company’s stock valued at $146,232,000 after acquiring an additional 224,036 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.
Several brokerages have weighed in on NWL. Vetr upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, March 8th. Citigroup restated a “buy” rating on shares of Newell Brands in a research note on Monday, March 5th. JPMorgan Chase & Co. restated a “hold” rating and set a $26.00 price objective (up from $25.00) on shares of Newell Brands in a research note on Tuesday, February 20th. Royal Bank of Canada restated a “sector perform” rating and set a $27.00 price objective on shares of Newell Brands in a research note on Tuesday, February 20th. Finally, Deutsche Bank raised their price objective on Newell Brands from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, February 19th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.50.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, February 16th. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Newell Brands had a return on equity of 10.47% and a net margin of 18.65%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. research analysts predict that Newell Brands Inc will post 2.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, February 27th. Newell Brands’s payout ratio is 16.34%.
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Newell Brands 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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