Newell Brands Inc. (NASDAQ:NWL) Stake Cut by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of Newell Brands Inc. (NASDAQ:NWLFree Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 542,605 shares of the company’s stock after selling 23,697 shares during the quarter. California Public Employees Retirement System’s holdings in Newell Brands were worth $4,900,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Newell Brands by 368.3% in the third quarter. Principal Financial Group Inc. now owns 2,026,362 shares of the company’s stock valued at $18,298,000 after buying an additional 1,593,661 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Newell Brands by 59.3% in the third quarter. Coldstream Capital Management Inc. now owns 17,423 shares of the company’s stock valued at $157,000 after buying an additional 6,487 shares during the last quarter. Sightline Wealth Advisors LLC lifted its stake in Newell Brands by 21.3% in the third quarter. Sightline Wealth Advisors LLC now owns 40,335 shares of the company’s stock valued at $364,000 after buying an additional 7,082 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new stake in Newell Brands in the third quarter valued at $116,000. Finally, RFP Financial Group LLC lifted its stake in Newell Brands by 81.1% in the third quarter. RFP Financial Group LLC now owns 10,050 shares of the company’s stock valued at $91,000 after buying an additional 4,500 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

Newell Brands Price Performance

NASDAQ NWL opened at $8.32 on Thursday. The stock’s 50-day moving average price is $8.38 and its two-hundred day moving average price is $8.75. The company has a current ratio of 1.24, a quick ratio of 0.65 and a debt-to-equity ratio of 1.52. The company has a market cap of $3.45 billion, a PE ratio of -6.21 and a beta of 0.97. Newell Brands Inc. has a 1 year low of $6.49 and a 1 year high of $16.75.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, November 29th. This represents a $0.28 annualized dividend and a yield of 3.37%. Newell Brands’s payout ratio is presently -20.90%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Newell Brands from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. StockNews.com upgraded shares of Newell Brands from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. UBS Group lifted their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. TheStreet cut shares of Newell Brands from a “c-” rating to a “d” rating in a research note on Friday, October 27th. Finally, Royal Bank of Canada cut their price objective on shares of Newell Brands from $12.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.55.

Read Our Latest Report on Newell Brands

Newell Brands Profile

(Free Report)

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.

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Institutional Ownership by Quarter for Newell Brands (NASDAQ:NWL)

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