310,000 Shares in Newell Brands Inc. (NASDAQ:NWL) Acquired by Soviero Asset Management LP

Soviero Asset Management LP bought a new position in shares of Newell Brands Inc. (NASDAQ:NWL) in the 4th quarter, Holdings Channel reports. The fund bought 310,000 shares of the company’s stock, valued at approximately $3,088,000. Newell Brands accounts for 1.9% of Soviero Asset Management LP’s portfolio, making the stock its 26th largest position.

Several other large investors have also added to or reduced their stakes in NWL. Vanguard Group Inc. boosted its holdings in Newell Brands by 4.4% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Newell Brands by 21.4% in the fourth 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 in the last quarter. FMR LLC boosted its holdings in Newell Brands by 233.6% in the fourth 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 in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Newell Brands by 12.0% in the fourth 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 in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Newell Brands by 4.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Wall Street Analyst Weigh In

NWL has been the topic of several recent research reports. Wells Fargo & Company cut their price target on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group cut their price target on Newell Brands from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Barclays raised their target price on Newell Brands from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Truist Financial dropped their target price on Newell Brands from $17.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Newell Brands currently has an average rating of “Hold” and a consensus target price of $7.42.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $5.90 on Monday. The business’s fifty day simple moving average is $5.53 and its 200 day simple moving average is $7.86. The firm has a market capitalization of $2.46 billion, a P/E ratio of -11.35, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. Newell Brands Inc. has a 12 month low of $4.22 and a 12 month high of $11.78. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. Newell Brands’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts anticipate that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 yield of 4.75%. Newell Brands’s dividend payout ratio (DPR) is currently -47.46%.

About Newell Brands

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.