Savoir Faire Capital Management L.P. Sells 92,657 Shares of Newell Brands Inc. (NASDAQ:NWL)

Savoir Faire Capital Management L.P. cut its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 26.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,496 shares of the company’s stock after selling 92,657 shares during the period. Savoir Faire Capital Management L.P. owned about 0.06% of Newell Brands worth $1,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in shares of Newell Brands by 3.5% in the 3rd 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 in the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Newell Brands by 5.9% in the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock worth $203,000 after buying an additional 1,762 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Newell Brands by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock worth $745,000 after buying an additional 2,394 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Newell Brands by 3.0% in the 1st quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock worth $671,000 after buying an additional 2,407 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in Newell Brands by 9.9% during the second quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock valued at $177,000 after purchasing an additional 2,490 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Analyst Upgrades and Downgrades

NWL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Canaccord Genuity Group raised their price target on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. cut their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Royal Bank of Canada boosted their price target on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Truist Financial lifted their price objective on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.90.

Newell Brands Stock Performance

NASDAQ NWL opened at $8.89 on Tuesday. The stock’s fifty day moving average is $7.98 and its two-hundred day moving average is $7.51. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. Newell Brands Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $9.68.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.15%. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Activity at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Newell Brands 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.