Brokerages Set Newell Brands Inc. (NASDAQ:NWL) Target Price at $10.00

Newell Brands Inc. (NASDAQ:NWL) has been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.20.

A number of brokerages recently issued reports on NWL. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. Canaccord Genuity Group increased their price target on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $17.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. reduced their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Wells Fargo & Company raised their target price on shares of Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday.

Insider Buying and Selling

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now owns 230,254 shares in the company, valued at $2,063,075.84. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newell Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Newell Brands by 18.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after purchasing an additional 2,634,114 shares during the period. Primecap Management Co. CA increased its stake in Newell Brands by 4.8% in the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after buying an additional 674,015 shares during the period. Dimensional Fund Advisors LP lifted 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 worth $75,753,000 after buying an additional 2,668,384 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Newell Brands by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock valued at $65,558,000 after buying an additional 137,441 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Newell Brands by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock valued at $50,973,000 after acquiring an additional 115,459 shares in the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Newell Brands Stock Performance

Shares of NWL opened at $9.84 on Thursday. The firm has a fifty day moving average of $9.78 and a 200-day moving average of $8.14. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -16.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands has a 1 year low of $5.39 and a 1 year high of $11.78.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $0.39 EPS. Newell Brands’s revenue was down 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Newell Brands will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.85%. Newell Brands’s payout ratio is currently -46.67%.

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.