Toronto Dominion Bank Increases Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Posted by on May 10th, 2023

Toronto Dominion Bank increased its position in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,804 shares of the company’s stock after acquiring an additional 33,620 shares during the period. Toronto Dominion Bank owned about 0.05% of Newell Brands worth $2,703,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in Newell Brands during the 1st quarter valued at $26,000. HighTower Advisors LLC raised its stake in Newell Brands by 4.5% during the 1st quarter. HighTower Advisors LLC now owns 18,847 shares of the company’s stock valued at $401,000 after buying an additional 808 shares during the last quarter. Private Advisor Group LLC raised its stake in Newell Brands by 5.0% during the 1st quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after buying an additional 593 shares during the last quarter. MetLife Investment Management LLC raised its stake in Newell Brands by 23.2% during the 1st quarter. MetLife Investment Management LLC now owns 103,044 shares of the company’s stock valued at $2,206,000 after buying an additional 19,395 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Newell Brands by 57.9% during the 1st quarter. Panagora Asset Management Inc. now owns 78,161 shares of the company’s stock valued at $1,673,000 after buying an additional 28,656 shares during the last quarter. 92.31% of the stock is currently owned by hedge funds and other institutional investors.

Newell Brands Trading Down 1.5 %

Shares of Newell Brands stock opened at $9.99 on Wednesday. The company has a market capitalization of $4.14 billion, a P/E ratio of -34.45 and a beta of 0.92. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.55 and a current ratio of 1.23. The company has a fifty day moving average of $11.88 and a 200 day moving average of $13.45. Newell Brands Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $24.48.

Newell Brands (NASDAQ:NWL – Get Rating) last issued its earnings results on Friday, April 28th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.79 billion. Newell Brands had a positive return on equity of 13.59% and a negative net margin of 1.31%. The company’s quarterly revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, sell-side analysts anticipate that Newell Brands Inc. will post 0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, Director Brett Icahn sold 107,372 shares of the stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $15.37, for a total transaction of $1,650,307.64. Following the completion of the transaction, the director now owns 845,631 shares of the company’s stock, valued at approximately $12,997,348.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark J. Erceg acquired 28,282 shares of Newell Brands stock in a transaction that occurred on Thursday, March 9th. The shares were bought at an average cost of $13.00 per share, with a total value of $367,666.00. Following the transaction, the chief financial officer now directly owns 94,982 shares of the company’s stock, valued at approximately $1,234,766. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brett Icahn sold 107,372 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $15.37, for a total transaction of $1,650,307.64. Following the completion of the sale, the director now directly owns 845,631 shares in the company, valued at $12,997,348.47. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NWL shares. Morgan Stanley decreased their target price on shares of Newell Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, February 13th. Royal Bank of Canada reduced their price objective on Newell Brands from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Monday, February 13th. StockNews.com assumed coverage on Newell Brands in a research note on Thursday, March 16th. They issued a “sell” rating for the company. Wells Fargo & Company upped their price objective on Newell Brands from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 24th. Finally, Barclays reduced their price objective on Newell Brands from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Newell Brands presently has a consensus rating of “Hold” and an average price target of $17.18.

Newell Brands Company Profile

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Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment includes commercial cleaning and maintenance solutions, closet and garage organization, hygiene systems and material handling solutions, connected home and security, and smoke and carbon monoxide alarms.

See Also

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

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