Newell Brands (NASDAQ:NWL) PT Raised to $8.00 at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its target price hoisted by Wells Fargo & Company from $7.00 to $8.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

NWL has been the subject of a number of other reports. Barclays increased their price target on Newell Brands from $5.00 to $6.00 and gave the company an underweight rating in a research report on Tuesday, January 16th. Morgan Stanley cut their price target on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a report on Monday, February 12th. Raymond James lowered shares of Newell Brands from an outperform rating to a market perform rating in a research report on Monday, February 12th. Royal Bank of Canada lowered their price objective on shares of Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Newell Brands from $7.00 to $9.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $8.61.

Newell Brands Stock Performance

NASDAQ NWL opened at $7.75 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48. The company has a fifty day simple moving average of $7.50 and a 200 day simple moving average of $7.76. Newell Brands has a 12-month low of $6.49 and a 12-month high of $11.61. The company has a market cap of $3.22 billion, a P/E ratio of -10.76, a PEG ratio of 1.59 and a beta of 0.95.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business posted ($0.06) EPS. The business’s revenue was down 5.8% compared to the same quarter last year. Sell-side analysts predict that Newell Brands will post 0.56 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands’s dividend payout ratio (DPR) is presently -38.89%.

Hedge Funds Weigh In On Newell Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D raised its holdings in shares of Newell Brands by 39.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 329,711 shares of the company’s stock valued at $2,862,000 after buying an additional 93,791 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in Newell Brands by 20.9% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 55,998 shares of the company’s stock worth $506,000 after purchasing an additional 9,662 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Newell Brands by 1,213.6% during the third quarter. Public Sector Pension Investment Board now owns 470,989 shares of the company’s stock valued at $4,253,000 after purchasing an additional 435,133 shares during the period. FMR LLC increased its stake in shares of Newell Brands by 481.6% in the third quarter. FMR LLC now owns 5,406,274 shares of the company’s stock worth $48,819,000 after buying an additional 4,476,644 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Newell Brands by 88,271.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,604 shares of the company’s stock worth $1,411,000 after acquiring an additional 162,420 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

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.