Primecap Management Co. CA Has $89.89 Million Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Key Points

• Primecap Management Co. CA increased its stake in Newell Brands by 2.5% in the first quarter, owning approximately 14.5 million shares valued at nearly $90 million.
• Numerous hedge funds, including Quadrant Capital Group LLC and Advisory Services Network LLC, have also raised their positions in Newell Brands, indicating strong institutional interest in the company.
• Analysts' ratings for Newell Brands are mixed, with JPMorgan cutting its price target to $7.00, while UBS raised theirs to $5.50; the consensus rating remains a "Hold" with a target price of $7.44.

Primecap Management Co. CA boosted its holdings in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,498,030 shares of the company's stock after acquiring an additional 351,610 shares during the period. Primecap Management Co. CA owned about 3.47% of Newell Brands worth $89,888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in Newell Brands by 25.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,846,692 shares of the company's stock worth $129,249,000 after acquiring an additional 4,273,541 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Newell Brands by 21.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company's stock valued at $180,172,000 after buying an additional 3,188,718 shares during the last quarter. FMR LLC raised its position in shares of Newell Brands by 233.6% in the fourth quarter. FMR LLC now owns 14,527,609 shares of the company's stock valued at $144,695,000 after buying an additional 10,172,696 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in shares of Newell Brands by 12.0% in the fourth quarter. Deprince Race & Zollo Inc. now owns 12,760,180 shares of the company's stock valued at $127,091,000 after buying an additional 1,363,913 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Newell Brands by 4.6% in the fourth 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 last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Canaccord Genuity Group cut their price objective on shares of Newell Brands from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Truist Financial cut their price objective on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays upped their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Newell Brands from a "sell" rating to a "hold" rating in a research report on Sunday, May 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.44.

Newell Brands Trading Down 1.0%

NWL traded down $0.05 during trading on Friday, hitting $4.88. 5,377,352 shares of the company's stock were exchanged, compared to its average volume of 8,045,441. The company has a current ratio of 1.12, a quick ratio of 0.57 and a debt-to-equity ratio of 1.68. Newell Brands Inc. has a 1 year low of $4.22 and a 1 year high of $11.78. The stock has a 50 day moving average price of $5.55 and a 200 day moving average price of $6.11. The firm has a market cap of $2.05 billion, a P/E ratio of -8.27 and a beta of 0.96.

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

Insider Transactions at Newell Brands

In other Newell Brands news, CEO Melanie Arlene Huet sold 8,800 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $5.11, for a total transaction 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 represents a 14.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by corporate insiders.

Newell Brands Company 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.