Wells Fargo & Company Cuts Newell Brands (NASDAQ:NWL) Price Target to $7.00

Newell Brands (NASDAQ:NWL) had its price objective decreased by Wells Fargo & Company from $9.00 to $7.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms also recently commented on NWL. JPMorgan Chase & Co. lifted their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Royal Bank of Canada dropped their price target on shares of Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, February 10th. Barclays boosted their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Finally, Canaccord Genuity Group decreased their target price on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.58.

Newell Brands Trading Down 6.4 %

NASDAQ:NWL opened at $5.12 on Wednesday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -9.85, a PEG ratio of 0.95 and a beta of 0.84. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The company’s 50 day moving average price is $7.21 and its 200-day moving average price is $8.44. Newell Brands has a 52 week low of $4.83 and a 52 week high of $11.78.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same period in the previous year, the firm posted $0.22 EPS. On average, equities research analysts forecast that Newell Brands will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 5.47%. Newell Brands’s dividend payout ratio is currently -53.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NWL. Cerity Partners LLC raised its holdings in Newell Brands by 130.9% in the 3rd quarter. Cerity Partners LLC now owns 91,723 shares of the company’s stock worth $704,000 after purchasing an additional 51,992 shares during the period. FMR LLC increased its position in Newell Brands by 21.5% in the third quarter. FMR LLC now owns 4,354,913 shares of the company’s stock worth $33,446,000 after buying an additional 770,717 shares in the last quarter. Bridgewater Associates LP purchased a new stake in Newell Brands in the third quarter worth about $108,000. Glenmede Trust Co. NA bought a new position in shares of Newell Brands in the third quarter worth about $92,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Newell Brands by 4.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,970 shares of the company’s stock valued at $752,000 after buying an additional 4,555 shares in the last quarter. Hedge funds and other institutional investors 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.