Newell Brands Inc. (NASDAQ:NWL) Receives $10.81 Average Target Price from Brokerages

Newell Brands Inc. (NASDAQ:NWL) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.81.

A number of equities analysts have weighed in on the stock. Wells Fargo & Company cut their price target on shares of Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Barclays boosted their price target on Newell Brands from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. raised 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. Finally, Citigroup decreased their target price on Newell Brands from $10.50 to $7.75 and set a “neutral” rating for the company in a report on Monday, February 10th.

Insider Activity at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Newell Brands

A number of large investors have recently bought and sold shares of NWL. FMR LLC boosted its stake in Newell Brands by 233.6% during the 4th quarter. FMR LLC now owns 14,527,609 shares of the company’s stock valued at $144,695,000 after purchasing an additional 10,172,696 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Newell Brands during the fourth quarter worth approximately $72,431,000. Victory Capital Management Inc. grew its holdings in Newell Brands by 5,324.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after buying an additional 4,637,180 shares in the last quarter. Norges Bank acquired a new stake in Newell Brands in the 4th quarter valued at approximately $37,174,000. Finally, Dimensional Fund Advisors LP raised its stake in Newell Brands by 21.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company’s stock valued at $180,172,000 after acquiring an additional 3,188,718 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

Shares of Newell Brands stock opened at $6.80 on Friday. Newell Brands has a fifty-two week low of $5.39 and a fifty-two week high of $11.78. The business’s fifty day moving average is $9.41 and its two-hundred day moving average is $8.64. 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 firm has a market cap of $2.83 billion, a PE ratio of -13.08, a P/E/G ratio of 0.95 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $0.22 EPS. Analysts anticipate that Newell Brands will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 4.12%. Newell Brands’s dividend payout ratio is presently -53.85%.

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.