Pictet Asset Management Ltd. Boosts Position in Newell Brands Inc (NYSE:NWL)
Pictet Asset Management Ltd. increased its position in Newell Brands Inc (NYSE:NWL) by 6.9% in the first quarter, HoldingsChannel reports. The firm owned 116,966 shares of the company’s stock after purchasing an additional 7,499 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Newell Brands were worth $1,794,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Whitener Capital Management Inc. lifted its holdings in Newell Brands by 3.3% in the fourth quarter. Whitener Capital Management Inc. now owns 18,544 shares of the company’s stock worth $344,000 after acquiring an additional 599 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Newell Brands by 67.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,545 shares of the company’s stock worth $29,000 after acquiring an additional 624 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its holdings in Newell Brands by 1.2% in the first quarter. Eagle Boston Investment Management Inc. now owns 60,686 shares of the company’s stock worth $930,000 after acquiring an additional 743 shares during the last quarter. Signaturefd LLC lifted its holdings in Newell Brands by 5.4% in the first quarter. Signaturefd LLC now owns 15,082 shares of the company’s stock worth $231,000 after acquiring an additional 767 shares during the last quarter. Finally, Resources Management Corp CT ADV lifted its holdings in Newell Brands by 4.5% in the fourth quarter. Resources Management Corp CT ADV now owns 24,750 shares of the company’s stock worth $460,000 after acquiring an additional 1,075 shares during the last quarter. Institutional investors and hedge funds own 98.42% of the company’s stock.
A number of research firms have recently weighed in on NWL. Zacks Investment Research cut Newell Brands from a “buy” rating to a “sell” rating in a report on Thursday, February 21st. Royal Bank of Canada cut their price target on Newell Brands from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 19th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $21.00 price target (down previously from $36.00) on shares of Newell Brands in a report on Tuesday, February 19th. Citigroup set a $24.00 price target on Newell Brands and gave the company a “buy” rating in a report on Wednesday, February 20th. Finally, Barclays set a $16.00 price target on Newell Brands and gave the company a “hold” rating in a report on Tuesday, February 19th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Newell Brands presently has an average rating of “Hold” and a consensus price target of $20.80.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, May 3rd. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.08. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Newell Brands Inc will post 1.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 annualized dividend and a yield of 6.25%. Newell Brands’s payout ratio is 33.45%.
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About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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