Pictet Asset Management SA Sells 1,364 Shares of Newell Brands Inc. (NASDAQ:NWL)

Pictet Asset Management SA cut its holdings in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,613 shares of the company’s stock after selling 1,364 shares during the quarter. Pictet Asset Management SA’s holdings in Newell Brands were worth $2,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Newell Brands by 1.0% during the first quarter. Vanguard Group Inc. now owns 43,445,148 shares of the company’s stock valued at $930,160,000 after purchasing an additional 443,812 shares in the last quarter. Pzena Investment Management LLC boosted its position in Newell Brands by 3.7% during the third quarter. Pzena Investment Management LLC now owns 38,954,635 shares of the company’s stock valued at $541,080,000 after purchasing an additional 1,385,298 shares in the last quarter. State Street Corp raised its holdings in Newell Brands by 3.4% in the second quarter. State Street Corp now owns 22,123,066 shares of the company’s stock worth $421,223,000 after purchasing an additional 724,401 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Newell Brands by 8.6% during the third quarter. Victory Capital Management Inc. now owns 15,489,824 shares of the company’s stock valued at $215,154,000 after buying an additional 1,225,381 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Newell Brands by 1.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,797,338 shares of the company’s stock valued at $122,195,000 after acquiring an additional 91,612 shares during the last quarter. 92.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Brett Icahn sold 107,372 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $15.37, for a total value of $1,650,307.64. Following the transaction, the director now directly owns 845,631 shares of the company’s stock, valued at approximately $12,997,348.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NWL shares. JPMorgan Chase & Co. raised their price objective on Newell Brands from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. Barclays dropped their price target on Newell Brands from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Newell Brands from $15.00 to $17.00 in a research note on Monday, January 30th. Royal Bank of Canada cut their price target on shares of Newell Brands from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Monday, February 13th. Finally, Morgan Stanley dropped their price objective on shares of Newell Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.55.

Newell Brands Trading Down 1.8 %

Shares of Newell Brands stock opened at $14.55 on Monday. The firm has a 50-day simple moving average of $14.63 and a two-hundred day simple moving average of $14.53. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.60 and a current ratio of 1.32. Newell Brands Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $24.70. The company has a market cap of $6.02 billion, a P/E ratio of 28.53 and a beta of 0.93.

Newell Brands (NASDAQ:NWL – Get Rating) last released its quarterly earnings results on Friday, February 10th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Newell Brands had a return on equity of 17.76% and a net margin of 2.33%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. Newell Brands’s quarterly revenue was down 18.5% compared to the same quarter last year. As a group, equities analysts predict that Newell Brands Inc. will post 1.04 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend is Monday, February 27th. Newell Brands’s dividend payout ratio is presently 180.39%.

Newell Brands Company Profile

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Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment includes commercial cleaning and maintenance solutions, closet and garage organization, hygiene systems and material handling solutions, connected home and security, and smoke and carbon monoxide alarms.