5 Worst Performing S&P 500 Stocks in 2023

In this article, we discuss 5 worst performing S&P 500 stocks in 2023. If you want to read our detailed analysis of the stock market outlook, head over to 20 Worst Performing S&P 500 Stocks in 2023. 

5. Newell Brands Inc. (NASDAQ:NWL)

Year-to-Date Share Price Decline: 36.78%

Number of Hedge Fund Holders: 21

Newell Brands Inc. (NASDAQ:NWL) is engaged in manufacturing and commercializing consumer and commercial products worldwide. The company operates through Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation segments. The stock price plummeted nearly 37% year-to-date as of June 16, making it one of the worst performing S&P 500 players. 

On May 15, Newell Brands Inc. (NASDAQ:NWL) declared a $0.07 per share quarterly dividend, a 69.6% decrease from its prior dividend of $0.23. The dividend was distributed to shareholders on June 15. After posting mixed Q1 results, Newell Brands Inc. (NASDAQ:NWL) expects sales in Q2 2023 to decline between 10% and 14% while normalized EPS is forecasted to range between $0.10 to $0.18. Whereas, Wall Street analysts forecast a decline of 13.24% in revenue and $0.38 in earnings per share during Q2 2023. 

According to Insider Monkey’s first quarter database, 21 hedge funds were bullish on Newell Brands Inc. (NASDAQ:NWL), compared to 29 funds in the prior quarter. Richard S. Pzena’s Pzena Investment Management is the largest stakeholder of the company, with 50.8 million shares worth $632 million.