Newell Brands (NASDAQ:NWL) Shares Down 5.2% Following Analyst Downgrade

Newell Brands Inc. (NASDAQ:NWL) shares dropped 5.2% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $6.00 to $5.50. Citigroup currently has a neutral rating on the stock. Newell Brands traded as low as $5.67 and last traded at $5.6530. Approximately 583,385 shares were traded during trading, a decline of 92% from the average session volume of 7,602,296 shares. The stock had previously closed at $5.96.

Several other analysts have also weighed in on NWL. UBS Group reissued a “neutral” rating on shares of Newell Brands in a report on Thursday, October 22nd. Wall Street Zen raised shares of Newell Brands from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Newell Brands from $5.00 to $7.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Canaccord Genuity Group raised their target price on shares of Newell Brands from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Barclays lifted their target price on Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Newell Brands currently has a consensus rating of “Hold” and an average target price of $6.62.

Insider Buying and Selling at Newell Brands

In other news, insider Bradford Turner sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $6.16, for a total transaction of $616,000.00. Following the completion of the transaction, the insider directly owned 433,398 shares in the company, valued at approximately $2,669,731.68. The trade was a 18.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.64% of the company’s stock.

Institutional Trading of Newell Brands

Hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC grew its stake in shares of Newell Brands by 21.7% in the third quarter. Kestra Advisory Services LLC now owns 49,918 shares of the company’s stock worth $264,000 after purchasing an additional 8,896 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Newell Brands by 3.9% during the third quarter. Commonwealth Equity Services LLC now owns 182,600 shares of the company’s stock valued at $964,000 after purchasing an additional 6,866 shares during the period. Compass Financial Management LLC acquired a new position in shares of Newell Brands during the third quarter valued at $390,000. State of Wyoming acquired a new position in shares of Newell Brands during the third quarter valued at $60,000. Finally, Choreo LLC bought a new stake in shares of Newell Brands during the third quarter valued at about $87,000. Institutional investors own 92.50% of the company’s stock.

Newell Brands Trading Down 4.3%

The firm has a market capitalization of $2.43 billion, a P/E ratio of -7.40, a PEG ratio of 1.29 and a beta of 0.88. The business’s 50 day moving average is $5.67 and its two-hundred day moving average is $4.84. The company has a quick ratio of 0.59, a current ratio of 1.11 and a debt-to-equity ratio of 1.85.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.86 billion. Newell Brands had a negative net margin of 3.05% and a positive return on equity of 12.31%. Newell Brands’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. Analysts expect that Newell Brands Inc. will post 0.76 EPS for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, August 31st. Newell Brands’s dividend payout ratio is currently -36.36%.

About Newell Brands

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer’s and Sistema.

The company’s products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.