AQR Capital Management LLC reduced its stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 44.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,112,751 shares of the company's stock after selling 1,661,991 shares during the period. AQR Capital Management LLC owned approximately 0.51% of Newell Brands worth $21,043,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Newell Brands by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company's stock worth $467,053,000 after purchasing an additional 1,974,823 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Newell Brands by 21.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company's stock worth $180,172,000 after purchasing an additional 3,188,718 shares during the last quarter. FMR LLC lifted its holdings in shares of Newell Brands by 233.6% during the fourth quarter. FMR LLC now owns 14,527,609 shares of the company's stock worth $144,695,000 after purchasing an additional 10,172,696 shares during the period. Hennessy Advisors Inc. purchased a new position in Newell Brands in the 4th quarter valued at $72,431,000. Finally, Geode Capital Management LLC increased its stake in Newell Brands by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 6,938,654 shares of the company's stock valued at $69,132,000 after buying an additional 303,371 shares during the period. Institutional investors and hedge funds own 92.50% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on NWL. Truist Financial lowered their target price on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Citigroup dropped their target price on Newell Brands from $7.75 to $4.75 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group reduced their price target on Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 1st. StockNews.com raised Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday. Finally, JPMorgan Chase & Co. reduced their target price on Newell Brands from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.42.
Check Out Our Latest Stock Analysis on Newell Brands
Newell Brands Price Performance
NASDAQ:NWL traded up $0.26 during mid-day trading on Thursday, hitting $5.26. 8,424,286 shares of the company's stock traded hands, compared to its average volume of 6,981,666. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The company has a market cap of $2.20 billion, a PE ratio of -10.12, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The firm's 50 day simple moving average is $5.64 and its 200 day simple moving average is $7.99. Newell Brands Inc. has a 1 year low of $4.22 and a 1 year high of $11.78.
Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.06. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.54 billion. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The firm's quarterly revenue was down 5.3% compared to the same quarter last year. Sell-side analysts expect that Newell Brands Inc. will post 0.72 EPS for the current year.
Newell Brands Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.32%. Newell Brands's dividend payout ratio (DPR) is presently -47.46%.
About Newell Brands
(
Free Report)
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.
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