Newell Brands (NASDAQ:NWL) PT Lowered to $8.00 at JPMorgan Chase & Co.

Newell Brands (NASDAQ:NWL) had its price objective decreased by JPMorgan Chase & Co. from $9.00 to $8.00 in a report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Newell Brands from $6.00 to $9.00 and gave the company an equal weight rating in a research report on Monday, July 29th. Royal Bank of Canada increased their target price on shares of Newell Brands from $7.50 to $9.50 and gave the company a sector perform rating in a report on Monday, July 29th. Truist Financial boosted their price target on shares of Newell Brands from $8.00 to $10.00 and gave the stock a hold rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a hold rating in a research note on Monday, July 29th. Finally, Citigroup lowered Newell Brands from a hold rating to a strong sell rating in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $8.91.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $7.47 on Friday. The firm has a 50 day simple moving average of $7.35 and a 200 day simple moving average of $7.31. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -10.38, a PEG ratio of 1.29 and a beta of 0.91. Newell Brands has a one year low of $5.39 and a one year high of $9.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the business posted $0.24 earnings per share. Newell Brands’s quarterly revenue was down 7.8% on a year-over-year basis. Research analysts predict that Newell Brands will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 annualized dividend and a yield of 3.75%. Newell Brands’s payout ratio is -38.89%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in shares of Newell Brands in the 2nd quarter worth approximately $26,000. Quarry LP raised its position in shares of Newell Brands by 106.2% in the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock worth $41,000 after acquiring an additional 2,437 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of Newell Brands by 50.5% in the 1st quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after purchasing an additional 1,780 shares during the period. Gradient Investments LLC bought a new stake in shares of Newell Brands during the second quarter valued at approximately $46,000. Finally, Innealta Capital LLC purchased a new stake in Newell Brands in the second quarter worth $58,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

About Newell Brands

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.