Newell Brands (NASDAQ:NWL) Price Target Raised to $10.00

Newell Brands (NASDAQ:NWL) had its target price increased by JPMorgan Chase & Co. from $9.00 to $10.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

NWL has been the subject of several other research reports. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Wells Fargo & Company upped their target price on Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Canaccord Genuity Group upped their price target on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. One 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 company. According to data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and a consensus price target of $10.70.

Newell Brands Trading Down 0.4 %

Shares of NASDAQ:NWL opened at $10.12 on Thursday. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.78. The firm has a market capitalization of $4.21 billion, a P/E ratio of -16.87, a P/E/G ratio of 0.86 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The business’s 50-day moving average is $9.92 and its 200 day moving average is $8.30.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $0.39 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 2.77%. Newell Brands’s dividend payout ratio is currently -46.67%.

Insiders Place Their Bets

In other 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 transaction of $240,666.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NWL. Commonwealth Equity Services LLC increased its holdings in Newell Brands by 5.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 112,448 shares of the company’s stock valued at $721,000 after acquiring an additional 6,273 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Newell Brands by 3.8% during the 2nd quarter. Victory Capital Management Inc. now owns 87,086 shares of the company’s stock valued at $558,000 after acquiring an additional 3,228 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Newell Brands by 28.9% in the second quarter. American Century Companies Inc. now owns 27,864 shares of the company’s stock worth $179,000 after buying an additional 6,247 shares during the period. Dimensional Fund Advisors LP grew its position in Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after acquiring an additional 2,668,384 shares in the last quarter. Finally, Argent Trust Co purchased a new stake in Newell Brands during the 2nd quarter worth $142,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

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.