Brokerages Set Newell Brands Inc. (NASDAQ:NWL) Target Price at $9.30

Shares of Newell Brands Inc. (NASDAQ:NWL) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $10.00.

A number of analysts have weighed in on NWL shares. JPMorgan Chase & Co. reduced their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. Truist Financial raised shares of 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 report on Monday. Canaccord Genuity Group upped their price objective 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. Finally, Wells Fargo & Company raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th.

Newell Brands Price Performance

Shares of NWL opened at $11.45 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The firm has a market cap of $4.76 billion, a PE ratio of -19.08, a PEG ratio of 0.95 and a beta of 0.90. The firm’s 50 day moving average price is $8.89 and its 200 day moving average price is $7.75. Newell Brands has a twelve month low of $5.39 and a twelve month high of $11.78.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business posted $0.39 EPS. Newell Brands’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, research analysts expect that Newell Brands will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insider Activity

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the transaction, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Newell Brands by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock worth $15,050,000 after buying an additional 82,337 shares in the last quarter. Citigroup Inc. grew its position in Newell Brands by 7.7% during the 3rd quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock worth $9,476,000 after acquiring an additional 88,164 shares during the last quarter. Versor Investments LP increased its holdings in Newell Brands by 135.6% during the 3rd quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after purchasing an additional 56,800 shares in the last quarter. Primecap Management Co. CA increased its holdings 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 purchasing an additional 674,015 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Newell Brands by 29.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after purchasing an additional 2,668,384 shares during the last quarter. 92.50% of the stock is owned by 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.