Newell Brands (NASDAQ:NWL) Price Target Raised to $10.50 at UBS Group

Newell Brands (NASDAQ:NWL) had its price target hoisted by UBS Group from $9.50 to $10.50 in a research report released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on NWL. Wells Fargo & Company lifted their price objective on shares of Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. Canaccord Genuity Group boosted their price target on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $17.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.70.

Newell Brands Stock Performance

NWL stock opened at $10.12 on Thursday. Newell Brands has a 1-year low of $5.39 and a 1-year high of $11.78. The business has a 50-day moving average price of $9.92 and a 200 day moving average price of $8.30. The company has a market capitalization of $4.21 billion, a P/E ratio of -16.87, a PEG ratio of 0.86 and a beta of 0.89. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

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

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Friday, November 29th. Newell Brands’s dividend payout ratio is presently -46.67%.

Insider Buying and Selling at Newell Brands

In other news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Newell Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its holdings in shares of Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after acquiring an additional 4,056 shares during the period. Venturi Wealth Management LLC purchased a new position in Newell Brands during the third quarter worth about $70,000. Atomi Financial Group Inc. purchased a new position in Newell Brands during the third quarter worth about $79,000. Claro Advisors LLC purchased a new stake in shares of Newell Brands in the 3rd quarter valued at approximately $79,000. Finally, Versant Capital Management Inc increased its holdings in shares of Newell Brands by 24.8% during the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after buying an additional 1,666 shares during the last quarter. Institutional investors and hedge funds 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.