Citigroup Inc. Sells 204,056 Shares of Newell Brands Inc. (NASDAQ:NWL)

Citigroup Inc. cut its holdings in shares of Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 36.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,071 shares of the company’s stock after selling 204,056 shares during the quarter. Citigroup Inc. owned 0.08% of Newell Brands worth $4,566,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC boosted its position in shares of Newell Brands by 333.9% during the 4th quarter. HighTower Advisors LLC now owns 105,088 shares of the company’s stock worth $1,372,000 after acquiring an additional 80,869 shares in the last quarter. Prudential PLC boosted its position in shares of Newell Brands by 181.0% during the 4th quarter. Prudential PLC now owns 37,615 shares of the company’s stock worth $492,000 after acquiring an additional 24,231 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Newell Brands by 3.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 55,140 shares of the company’s stock worth $721,000 after acquiring an additional 2,011 shares in the last quarter. Carson Advisory Inc. boosted its position in shares of Newell Brands by 33.9% during the 4th quarter. Carson Advisory Inc. now owns 23,960 shares of the company’s stock worth $313,000 after acquiring an additional 6,060 shares in the last quarter. Finally, Simmons Bank boosted its position in shares of Newell Brands by 25.0% during the 4th quarter. Simmons Bank now owns 21,958 shares of the company’s stock worth $287,000 after acquiring an additional 4,388 shares in the last quarter. 92.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Raymond James reduced their price target on shares of Newell Brands from $18.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Monday, February 13th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Newell Brands from $14.00 to $13.00 in a research report on Monday, May 1st. Citigroup assumed coverage on shares of Newell Brands in a research report on Thursday, February 16th. They issued a “neutral” rating and a $15.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Newell Brands from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 24th. Finally, Royal Bank of Canada cut their target price on shares of Newell Brands from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, February 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.18.

Insider Buying and Selling

In related news, CFO Mark J. Erceg purchased 9,515 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was purchased at an average cost of $9.99 per share, with a total value of $95,054.85. Following the completion of the purchase, the chief financial officer now owns 153,140 shares in the company, valued at approximately $1,529,868.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mark J. Erceg purchased 9,515 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was purchased at an average cost of $9.99 per share, with a total value of $95,054.85. Following the completion of the purchase, the chief financial officer now owns 153,140 shares in the company, valued at approximately $1,529,868.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark J. Erceg purchased 28,282 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was bought at an average cost of $13.00 per share, with a total value of $367,666.00. Following the completion of the purchase, the chief financial officer now owns 94,982 shares of the company’s stock, valued at approximately $1,234,766. The disclosure for this purchase can be found here. 0.58% of the stock is owned by insiders.

Newell Brands Price Performance

Shares of NASDAQ NWL opened at $8.69 on Friday. Newell Brands Inc. has a twelve month low of $8.65 and a twelve month high of $21.88. The firm has a fifty day simple moving average of $11.46 and a 200 day simple moving average of $13.12. The company has a market capitalization of $3.60 billion, a PE ratio of -29.97 and a beta of 0.92. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 1.43.

Newell Brands (NASDAQ:NWL – Get Rating) last announced its earnings results on Friday, April 28th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Newell Brands had a positive return on equity of 13.59% and a negative net margin of 1.31%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $0.36 EPS. Newell Brands’s quarterly revenue was down 24.4% on a year-over-year basis. On average, sell-side analysts forecast that Newell Brands Inc. will post 0.97 EPS for the current year.

Newell Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, May 30th. Newell Brands’s dividend payout ratio is presently -96.55%.

Newell Brands Profile

(Get Rating)

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.