Newell Brands Inc (NWL) Stake Decreased by Coronation Fund Managers Ltd.
Coronation Fund Managers Ltd. trimmed its position in shares of Newell Brands Inc (NYSE:NWL) by 18.5% during the fourth quarter, HoldingsChannel reports. The firm owned 508,983 shares of the company’s stock after selling 115,808 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Newell Brands were worth $9,462,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NWL. Franklin Resources Inc. boosted its position in shares of Newell Brands by 4,814.0% during the third quarter. Franklin Resources Inc. now owns 11,308,700 shares of the company’s stock worth $229,568,000 after purchasing an additional 11,078,567 shares in the last quarter. BlackRock Inc. boosted its position in shares of Newell Brands by 10.7% during the third quarter. BlackRock Inc. now owns 41,188,089 shares of the company’s stock worth $836,120,000 after purchasing an additional 3,982,751 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Newell Brands by 15.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock valued at $285,027,000 after acquiring an additional 1,906,362 shares in the last quarter. Alps Advisors Inc. bought a new stake in Newell Brands in the 4th quarter valued at $32,936,000. Finally, Teachers Advisors LLC lifted its position in Newell Brands by 28.3% in the 3rd quarter. Teachers Advisors LLC now owns 2,783,541 shares of the company’s stock valued at $56,506,000 after acquiring an additional 614,285 shares in the last quarter. 98.42% of the stock is currently owned by institutional investors.
NWL opened at $21.36 on Tuesday. The firm has a market capitalization of $9.64 billion, a P/E ratio of 7.77, a P/E/G ratio of 3.82 and a beta of 0.90. Newell Brands Inc has a 12 month low of $15.11 and a 12 month high of $29.55. The company has a current ratio of 2.98, a quick ratio of 2.53 and a debt-to-equity ratio of 1.54.
In other Newell Brands news, SVP James L. Cunningham III sold 22,331 shares of Newell Brands stock in a transaction on Monday, November 26th. The shares were sold at an average price of $23.45, for a total value of $523,661.95. Following the sale, the senior vice president now directly owns 7,321 shares in the company, valued at approximately $171,677.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.
Several equities research analysts recently commented on NWL shares. Citigroup cut their price objective on shares of Newell Brands from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. ValuEngine raised shares of Newell Brands from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a research report on Friday, November 2nd. BMO Capital Markets cut their price objective on shares of Newell Brands from $25.00 to $20.00 and set a “market perform” rating on the stock in a research report on Monday, November 5th. Finally, Jefferies Financial Group cut their price objective on shares of Newell Brands to $20.00 and set a “hold” rating on the stock in a research report on Monday, November 5th. Eleven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.67.
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Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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