Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Newell Brands Inc. (NASDAQ:NWL)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Newell Brands Inc. (NASDAQ:NWL) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,080 shares of the company’s stock after purchasing an additional 11,450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Newell Brands were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NWL. FMR LLC lifted its stake in Newell Brands by 481.6% during the third quarter. FMR LLC now owns 5,406,274 shares of the company’s stock worth $48,819,000 after purchasing an additional 4,476,644 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Newell Brands by 4.5% during the 3rd quarter. Pzena Investment Management LLC now owns 54,796,231 shares of the company’s stock worth $494,810,000 after buying an additional 2,373,356 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Newell Brands by 35.9% in the 3rd quarter. Primecap Management Co. CA now owns 6,302,300 shares of the company’s stock valued at $56,910,000 after buying an additional 1,665,800 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Newell Brands by 368.3% in the 3rd 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. Finally, Landscape Capital Management L.L.C. acquired a new stake in Newell Brands during the 3rd quarter worth $9,575,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Stock Performance

Shares of NWL stock opened at $8.05 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48. The stock has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $7.75. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -11.18, a price-to-earnings-growth ratio of 1.54 and a beta of 0.95. Newell Brands Inc. has a 12-month low of $6.49 and a 12-month high of $12.02.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Newell Brands’s revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Newell Brands Inc. will post 0.56 EPS for the current year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Wednesday, February 28th. Newell Brands’s dividend payout ratio (DPR) is -38.89%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NWL. JPMorgan Chase & Co. raised their price objective on Newell Brands from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Barclays increased their price objective on Newell Brands from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. Morgan Stanley cut their target price on shares of Newell Brands from $8.50 to $7.75 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Canaccord Genuity Group increased their price target on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada dropped their price objective on shares of Newell Brands from $9.00 to $7.50 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Newell Brands currently has an average rating of “Hold” and an average price target of $8.52.

Newell Brands Company Profile

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.