Hsbc Holdings PLC Sells 43,631 Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN)

Hsbc Holdings PLC lowered its position in shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Free Report) by 27.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,141 shares of the company's stock after selling 43,631 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Fortune Brands Innovations worth $7,936,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in Fortune Brands Innovations in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter worth $55,000. IFP Advisors Inc boosted its position in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Fortune Brands Innovations during the fourth quarter valued at $82,000. Finally, Blue Trust Inc. increased its position in Fortune Brands Innovations by 18.0% in the 4th quarter. Blue Trust Inc. now owns 1,436 shares of the company's stock worth $98,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 87.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FBIN shares. Barclays reduced their price target on Fortune Brands Innovations from $79.00 to $68.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. UBS Group decreased their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group cut their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 target price on the stock. Finally, Royal Bank of Canada cut their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $84.33.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares of the company's stock, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Fortune Brands Innovations Stock Performance

FBIN stock traded up $1.51 during trading hours on Friday, reaching $54.82. The stock had a trading volume of 2,156,221 shares, compared to its average volume of 1,398,780. The stock has a 50-day simple moving average of $57.69 and a 200 day simple moving average of $68.66. Fortune Brands Innovations, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The stock has a market capitalization of $6.65 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Analysts predict that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current fiscal year.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.