Geode Capital Management LLC Has $50.97 Million Holdings in Newell Brands Inc. (NASDAQ:NWL)

Geode Capital Management LLC lifted its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,635,283 shares of the company’s stock after buying an additional 115,459 shares during the quarter. Geode Capital Management LLC owned about 1.60% of Newell Brands worth $50,973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rothschild Investment LLC bought a new position in shares of Newell Brands in the 2nd quarter worth $26,000. Quarry LP lifted its stake in Newell Brands by 104.4% in the second quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after buying an additional 4,056 shares during the period. Innealta Capital LLC bought a new position in Newell Brands during the second quarter worth about $58,000. Venturi Wealth Management LLC acquired a new position in shares of Newell Brands during the 3rd quarter worth about $70,000. Finally, Claro Advisors LLC acquired a new stake in shares of Newell Brands in the 3rd quarter valued at approximately $79,000. 92.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $17.00 in a report on Monday, December 9th. JPMorgan Chase & Co. lowered their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Wells Fargo & Company raised their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Finally, Canaccord Genuity Group increased their target price on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

Newell Brands Stock Up 1.1 %

NWL stock opened at $10.02 on Monday. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $11.78. The firm has a market capitalization of $4.17 billion, a PE ratio of -16.70, a PEG ratio of 1.02 and a beta of 0.90. The business’s 50 day simple moving average is $9.25 and its 200 day simple moving average is $7.87. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, research analysts anticipate that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.07 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.79%. Newell Brands’s payout ratio is -46.67%.

Insider Buying and Selling at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

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.