Newell Brands (NASDAQ:NWL) Price Target Raised to $11.00

Newell Brands (NASDAQ:NWL) had its price objective hoisted by Wells Fargo & Company from $9.00 to $11.00 in a research note released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other brokerages have also issued reports on NWL. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $17.00 in a report on Monday, December 9th. JPMorgan Chase & Co. lowered their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Canaccord Genuity Group raised their price target on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.20.

Newell Brands Stock Performance

Shares of NASDAQ NWL opened at $9.84 on Tuesday. The business’s 50-day simple moving average is $9.80 and its 200-day simple moving average is $8.15. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.78. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -16.40, a P/E/G ratio of 1.02 and a beta of 0.89.

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, hitting the consensus estimate of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm earned $0.39 EPS. Newell Brands’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts expect that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is -46.67%.

Insiders Place Their Bets

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bradford R. Turner sold 20,000 shares of Newell Brands 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 sale, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Newell Brands by 34.4% during the 4th quarter. GAMMA Investing LLC now owns 20,158 shares of the company’s stock worth $201,000 after buying an additional 5,156 shares during the last quarter. Versant Capital Management Inc raised its stake in Newell Brands by 24.8% during the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after acquiring an additional 1,666 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Newell Brands by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after acquiring an additional 82,337 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Newell Brands in the 3rd quarter valued at approximately $326,000. Finally, Virtu Financial LLC bought a new stake in shares of Newell Brands during the 3rd quarter valued at approximately $225,000. 92.50% of the stock is owned by institutional investors.

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.