Newell Brands (NASDAQ:NWL) Price Target Cut to $8.00

Newell Brands (NASDAQ:NWL - Free Report) had its price objective cut by JPMorgan Chase & Co. from $9.00 to $8.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently issued reports on NWL. Deutsche Bank Aktiengesellschaft upped their price objective on Newell Brands from $8.00 to $9.00 and gave the company a hold rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their price target on shares of Newell Brands from $6.00 to $9.00 and gave the stock an equal weight rating in a research note on Monday, July 29th. Canaccord Genuity Group raised their price objective on shares of Newell Brands from $10.00 to $12.00 and gave the stock a buy rating in a research note on Monday, July 29th. Truist Financial upped their target price on Newell Brands from $8.00 to $10.00 and gave the company a hold rating in a research note on Tuesday, July 30th. Finally, Citigroup lowered Newell Brands from a hold rating to a strong sell rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $8.91.

Newell Brands Price Performance

Shares of NWL stock traded up $0.09 during trading hours on Friday, hitting $7.60. The stock had a trading volume of 3,081,868 shares, compared to its average volume of 5,370,019. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -11.69, a PEG ratio of 1.29 and a beta of 0.91. Newell Brands has a one year low of $5.39 and a one year high of $9.24. The stock's 50-day moving average price is $7.36 and its two-hundred day moving average price is $7.32.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.15. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. Equities analysts forecast that Newell Brands will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.68%. Newell Brands's dividend payout ratio is currently -43.08%.

Hedge Funds Weigh In On Newell Brands

Several institutional investors have recently bought and sold shares of NWL. Dimensional Fund Advisors LP boosted its position in 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 acquiring an additional 2,668,384 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Newell Brands by 17.7% during the 2nd quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company's stock worth $90,054,000 after purchasing an additional 2,109,892 shares during the last quarter. AQR Capital Management LLC boosted its position in Newell Brands by 106.7% during the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company's stock valued at $16,042,000 after purchasing an additional 1,314,514 shares in the last quarter. M&G Plc purchased a new position in Newell Brands in the first quarter valued at about $9,992,000. Finally, Vanguard Group Inc. raised its holdings in Newell Brands by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company's stock worth $389,670,000 after purchasing an additional 739,295 shares in 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.