Newell Brands (NASDAQ:NWL) Price Target Cut to $6.00 by Analysts at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its price target trimmed by Wells Fargo & Company from $8.00 to $6.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on NWL. Barclays upgraded shares of Newell Brands from an underweight rating to an equal weight rating and set a $8.00 target price for the company in a research report on Tuesday, May 14th. Canaccord Genuity Group increased their price objective on shares of Newell Brands from $9.00 to $10.00 and gave the company a buy rating in a report on Monday, April 29th. Finally, Citigroup boosted their target price on Newell Brands from $7.50 to $8.00 and gave the stock a neutral rating in a report on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $8.36.

Newell Brands Stock Up 2.3 %

NWL stock opened at $6.22 on Wednesday. Newell Brands has a 52 week low of $5.39 and a 52 week high of $11.61. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. The firm has a 50-day simple moving average of $7.21 and a 200-day simple moving average of $7.62. The stock has a market capitalization of $2.58 billion, a P/E ratio of -8.64, a P/E/G ratio of 1.13 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, April 26th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. Newell Brands’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.06) EPS. Equities analysts forecast that Newell Brands will post 0.6 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.28 annualized dividend and a dividend yield of 4.50%. Newell Brands’s dividend payout ratio is presently -38.89%.

Hedge Funds Weigh In On Newell Brands

Several institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA acquired a new stake in Newell Brands during the 3rd quarter worth approximately $208,000. Public Sector Pension Investment Board raised its stake in shares of Newell Brands by 1,213.6% in the third quarter. Public Sector Pension Investment Board now owns 470,989 shares of the company’s stock valued at $4,253,000 after acquiring an additional 435,133 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Newell Brands in the third quarter valued at $138,000. B. Riley Wealth Advisors Inc. grew its stake in Newell Brands by 185.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 32,813 shares of the company’s stock worth $296,000 after purchasing an additional 21,329 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Newell Brands by 51.1% during the 3rd quarter. Citigroup Inc. now owns 480,112 shares of the company’s stock worth $4,335,000 after purchasing an additional 162,469 shares during the period. 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.