Savoir Faire Capital Management L.P. Trims Stake in Newell Brands Inc. $NWL

Savoir Faire Capital Management L.P. decreased its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 31.6% during the second quarter, Holdings Channel reports. The fund owned 97,363 shares of the company’s stock after selling 45,045 shares during the period. Savoir Faire Capital Management L.P.’s holdings in Newell Brands were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NWL. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Newell Brands in the 2nd quarter worth approximately $35,000. Parallel Advisors LLC grew its stake in shares of Newell Brands by 194.3% in the 2nd quarter. Parallel Advisors LLC now owns 8,067 shares of the company’s stock worth $44,000 after buying an additional 5,326 shares during the last quarter. HB Wealth Management LLC purchased a new stake in shares of Newell Brands in the 2nd quarter worth approximately $55,000. Vident Advisory LLC purchased a new stake in shares of Newell Brands in the 1st quarter worth approximately $66,000. Finally, OMNI 360 Wealth Inc. purchased a new stake in shares of Newell Brands in the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NWL has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Newell Brands from $7.00 to $6.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Newell Brands in a research note on Wednesday, October 8th. Citigroup cut their price target on Newell Brands from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. UBS Group upped their price target on Newell Brands from $5.00 to $5.50 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Canaccord Genuity Group cut their price target on Newell Brands from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.25.

Insider Activity

In other news, CEO Melanie Arlene Huet sold 8,800 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $5.11, for a total value of $44,968.00. Following the transaction, the chief executive officer directly owned 52,007 shares in the company, valued at $265,755.77. This trade represents a 14.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by company insiders.

Newell Brands Stock Performance

NWL stock opened at $4.72 on Friday. The stock has a market capitalization of $1.98 billion, a PE ratio of -8.00 and a beta of 1.02. Newell Brands Inc. has a 12-month low of $4.22 and a 12-month high of $11.78. The company has a current ratio of 1.12, a quick ratio of 0.57 and a debt-to-equity ratio of 1.68. The stock’s 50 day simple moving average is $5.44 and its 200 day simple moving average is $5.43.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Newell Brands had a positive return on equity of 8.48% and a negative net margin of 3.29%.The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. As a group, research analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, August 29th. Newell Brands’s dividend payout ratio is presently -47.46%.

Newell Brands Profile

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.