Primecap Management Co. CA Has $140.90 Million Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Primecap Management Co. CA cut its position in Newell Brands Inc. (NASDAQ:NWL) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,146,420 shares of the company’s stock after selling 576,659 shares during the period. Primecap Management Co. CA owned 3.40% of Newell Brands worth $140,898,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. PFG Investments LLC grew its holdings in shares of Newell Brands by 6.6% during the fourth quarter. PFG Investments LLC now owns 15,812 shares of the company’s stock worth $157,000 after purchasing an additional 981 shares during the last quarter. TriaGen Wealth Management LLC grew its holdings in Newell Brands by 1.7% during the 4th quarter. TriaGen Wealth Management LLC now owns 58,514 shares of the company’s stock worth $583,000 after acquiring an additional 991 shares during the last quarter. Arizona State Retirement System increased its position in Newell Brands by 0.9% in the 4th quarter. Arizona State Retirement System now owns 120,668 shares of the company’s stock valued at $1,202,000 after acquiring an additional 1,125 shares in the last quarter. Optas LLC raised its stake in shares of Newell Brands by 11.8% in the fourth quarter. Optas LLC now owns 12,397 shares of the company’s stock worth $123,000 after acquiring an additional 1,306 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after acquiring an additional 1,345 shares during the last quarter. 92.50% of the stock is owned by institutional investors.

Newell Brands Trading Down 2.0 %

NASDAQ:NWL opened at $6.51 on Wednesday. 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 Inc. has a 1-year low of $5.39 and a 1-year high of $11.78. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -12.52, a PEG ratio of 0.95 and a beta of 0.88. The business’s 50-day moving average price is $8.20 and its two-hundred day moving average price is $8.56.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period in the prior year, the business posted $0.22 EPS. On average, equities analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.30%. Newell Brands’s dividend payout ratio is -53.85%.

Analysts Set New Price Targets

A number of analysts recently weighed in on NWL shares. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $17.00 in a report on Monday, December 9th. UBS Group lifted their target price on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company cut their price target on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Citigroup decreased their price target on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Canaccord Genuity Group dropped their price objective on Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.81.

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.