Soviero Asset Management LP Buys New Shares in Newell Brands Inc. (NASDAQ:NWL)

Soviero Asset Management LP acquired a new stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 310,000 shares of the company's stock, valued at approximately $3,088,000. Newell Brands comprises 1.9% of Soviero Asset Management LP's investment portfolio, making the stock its 26th largest holding. Soviero Asset Management LP owned 0.07% of Newell Brands at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 1,974,823 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Newell Brands by 21.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company's stock worth $180,172,000 after acquiring an additional 3,188,718 shares during the last quarter. FMR LLC lifted its position in Newell Brands by 233.6% during the 4th quarter. FMR LLC now owns 14,527,609 shares of the company's stock worth $144,695,000 after acquiring an additional 10,172,696 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in Newell Brands by 12.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 12,760,180 shares of the company's stock worth $127,091,000 after acquiring an additional 1,363,913 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Newell Brands by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 6,938,654 shares of the company's stock worth $69,132,000 after acquiring an additional 303,371 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.

Newell Brands Price Performance

Shares of NWL stock traded up $0.20 during trading hours on Thursday, reaching $5.64. 11,724,838 shares of the company were exchanged, compared to its average volume of 7,182,080. Newell Brands Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $11.78. The stock's fifty day moving average is $5.47 and its two-hundred day moving average is $7.81. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -10.85, a P/E/G ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. Newell Brands's revenue was down 5.3% compared to the same quarter last year. Sell-side analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 4.96%. Newell Brands's dividend payout ratio (DPR) is presently -47.46%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NWL shares. Canaccord Genuity Group dropped their price objective on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. 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 research note on Thursday, April 24th. Wells Fargo & Company lowered their target price on shares of Newell Brands from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised shares of Newell Brands from a "sell" rating to a "hold" rating in a research note on Sunday, May 4th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $9.00 target price on shares of Newell Brands in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.42.

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.