Newell Brands (NASDAQ:NWL) Given New $11.00 Price Target at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its target price raised by Wells Fargo & Company from $9.00 to $11.00 in a report issued on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

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

Newell Brands Stock Down 1.2 %

Shares of Newell Brands stock opened at $10.05 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. Newell Brands has a twelve month low of $5.39 and a twelve month high of $11.78. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -16.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89. The company’s 50 day moving average is $9.76 and its 200 day moving average is $8.13.

Newell Brands (NASDAQ:NWL) last released its quarterly 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. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. Research analysts anticipate that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The business 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. This represents a $0.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, November 29th. Newell Brands’s payout ratio is currently -46.67%.

Insider Buying and Selling at Newell Brands

In related news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the transaction, the insider now directly owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Institutional Trading of Newell Brands

A number of hedge funds have recently added to or reduced their stakes in NWL. Massachusetts Financial Services Co. MA boosted its stake in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after purchasing an additional 2,634,114 shares in the last quarter. Primecap Management Co. CA boosted its stake in Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after acquiring an additional 674,015 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 worth $75,753,000 after purchasing an additional 2,668,384 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in shares of Newell Brands by 1.4% during the second quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock worth $65,558,000 after purchasing an additional 137,441 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Newell Brands by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock valued at $50,973,000 after purchasing an additional 115,459 shares during the last quarter. 92.50% of the stock is owned by hedge funds and other 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.