First Trust Advisors LP trimmed its holdings in Newell Brands Inc. (NASDAQ:NWL) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,528 shares of the company’s stock after selling 31,530 shares during the quarter. First Trust Advisors LP’s holdings in Newell Brands were worth $4,618,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of NWL. Acadian Asset Management LLC bought a new position in Newell Brands in the 3rd quarter worth approximately $26,000. Exchange Traded Concepts LLC grew its holdings in Newell Brands by 350.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,446 shares of the company’s stock worth $31,000 after buying an additional 1,125 shares in the last quarter. Kinloch Capital LLC bought a new position in Newell Brands in the 4th quarter worth approximately $43,000. Birchcreek Wealth Management LLC bought a new position in Newell Brands in the 4th quarter worth approximately $53,000. Finally, Sowell Financial Services LLC bought a new position in Newell Brands in the 4th quarter worth approximately $54,000. 86.50% of the stock is owned by institutional investors and hedge funds.
NWL has been the subject of a number of recent analyst reports. Morgan Stanley increased their price objective on Newell Brands from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday. Truist upped their target price on Newell Brands from $25.00 to $30.00 in a research report on Tuesday. Zacks Investment Research downgraded Newell Brands from a “strong-buy” rating to a “hold” rating and set a $28.00 target price for the company. in a research report on Monday, February 8th. Bank of America upgraded Newell Brands from a “neutral” rating to a “buy” rating and upped their target price for the stock from $24.00 to $27.00 in a research report on Friday, January 8th. Finally, Wells Fargo & Company began coverage on Newell Brands in a research report on Tuesday, December 8th. They issued an “underweight” rating and a $18.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.82.
Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Thursday, February 11th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. Newell Brands had a positive return on equity of 17.83% and a negative net margin of 1.11%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that Newell Brands Inc. will post 1.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 15th. Stockholders of record on Friday, February 26th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, February 25th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.78%. Newell Brands’s payout ratio is currently 54.12%.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company operates through four segments: Appliances and Cookware, Food and Commercial, Home and Outdoor Living, and Learning and Development. The Appliances and Cookware segment offers household products, including kitchen appliances, gourmet cookware, bakeware, and cutlery under the Calphalon, Crock-Pot, Mr.
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