Wells Fargo & Company Issues Positive Forecast for Newell Brands (NASDAQ:NWL) Stock Price

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

Other research analysts also recently issued reports about the company. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. Canaccord Genuity Group lifted their price objective on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the company from $10.00 to $17.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.20.

Newell Brands Stock Down 2.1 %

Newell Brands stock opened at $9.84 on Tuesday. The firm has a 50 day moving average price of $9.80 and a two-hundred day moving average price of $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 PEG ratio of 1.02 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates 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 was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. Equities analysts predict that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

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

Insider Activity at Newell Brands

In other Newell Brands 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 value of $179,200.00. Following the sale, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Newell Brands

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake 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 period. Citigroup Inc. boosted its holdings in Newell Brands by 7.7% in the third quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock worth $9,476,000 after purchasing an additional 88,164 shares during the last quarter. Versor Investments LP grew its position in Newell Brands by 135.6% in the 3rd quarter. Versor Investments LP now owns 98,700 shares of the company’s stock worth $758,000 after purchasing an additional 56,800 shares during the period. Primecap Management Co. CA raised its stake in Newell Brands by 4.8% during the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after buying an additional 674,015 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Newell Brands by 29.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after buying an additional 2,668,384 shares during the period. Hedge funds and other institutional investors own 92.50% of the company’s stock.

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.