Newell Brands (NASDAQ:NWL) Given New $9.00 Price Target at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its price target upped by Wells Fargo & Company from $6.00 to $9.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on the company. Canaccord Genuity Group raised their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a buy rating in a research note on Monday, April 29th. Barclays raised shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 price target for the company in a report on Tuesday, May 14th. Citigroup dropped their price objective on shares of Newell Brands from $8.00 to $6.25 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. decreased their target price on Newell Brands from $8.00 to $7.00 and set a neutral rating for the company in a research note on Monday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $8.82.

Newell Brands Trading Down 2.8 %

NWL opened at $8.35 on Monday. The stock has a market capitalization of $3.47 billion, a PE ratio of -11.60, a P/E/G ratio of 1.54 and a beta of 0.89. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. Newell Brands has a 12-month low of $5.39 and a 12-month high of $11.06. The firm’s fifty day moving average price is $6.95 and its 200 day moving average price is $7.49.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.21 by $0.15. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 earnings per share. As a group, research analysts expect that Newell Brands will post 0.64 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, May 31st. Newell Brands’s dividend payout ratio is currently -38.89%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NWL. Norges Bank bought a new position in Newell Brands in the 4th quarter valued at about $32,781,000. Primecap Management Co. CA increased its stake in shares of Newell Brands by 35.1% during the fourth quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock valued at $73,884,000 after acquiring an additional 2,209,672 shares during the period. M&G Plc acquired a new position in shares of Newell Brands during the first quarter valued at approximately $9,992,000. Vanguard Group Inc. raised its holdings in Newell Brands by 1.7% during 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. Finally, Assenagon Asset Management S.A. acquired a new stake in Newell Brands in the fourth quarter worth approximately $5,843,000. 92.50% of the stock is owned by institutional investors and hedge funds.

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.