Newell Brands (NASDAQ:NWL) Price Target Raised to $11.00

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

Other equities research analysts have also recently issued reports about the company. Truist Financial upgraded Newell Brands from a "hold" rating to a "buy" rating and upped their target price for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. dropped their target price 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. Canaccord Genuity Group upped 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. Finally, Barclays raised shares of Newell Brands from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $8.00 to $10.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Newell Brands has a consensus rating of "Hold" and an average target price of $10.20.

Newell Brands Price Performance

Shares of Newell Brands stock traded down $0.12 during trading on Tuesday, hitting $10.05. 5,112,390 shares of the company's stock traded hands, compared to its average volume of 4,261,072. The firm's fifty day moving average price is $9.74 and its 200 day moving average price is $8.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The company has a market cap of $4.18 billion, a PE ratio of -16.75, a PEG ratio of 1.02 and a beta of 0.89. Newell Brands has a twelve month low of $5.39 and a twelve month high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business's revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.39 earnings per share. Analysts forecast that Newell Brands will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, November 29th. Newell Brands's payout ratio is currently -46.67%.

Insider Buying and Selling at Newell Brands

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

Institutional Trading of Newell Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of Newell Brands by 5,324.8% during the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock valued at $36,282,000 after purchasing an additional 4,637,180 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Newell Brands by 29.2% during the second 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 last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company's stock worth $127,629,000 after buying an additional 2,634,114 shares during the period. Primecap Management Co. CA grew its stake in shares of Newell Brands by 17.7% in the second 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 in the last quarter. Finally, AQR Capital Management LLC increased its stake in Newell Brands by 106.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company's stock valued at $16,042,000 after buying an additional 1,314,514 shares during the period. Institutional investors and hedge funds 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.