Brokerages Set Newell Brands Inc. (NASDAQ:NWL) Price Target at $10.70

Shares of Newell Brands Inc. (NASDAQ:NWL) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.70.

Several brokerages recently issued reports on NWL. JPMorgan Chase & Co. raised their target price on shares of Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their target price on Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. UBS Group increased their price target on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Canaccord Genuity Group lifted their price objective on shares of Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $17.00 in a report on Monday, December 9th.

Newell Brands Stock Performance

Shares of NWL stock opened at $9.96 on Monday. The company has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $8.61. Newell Brands has a one year low of $5.39 and a one year high of $11.78. The stock has a market cap of $4.14 billion, a P/E ratio of -16.60, a P/E/G ratio of 0.91 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, November 29th. Newell Brands’s dividend payout ratio (DPR) is -46.67%.

Insiders Place Their Bets

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 shares were sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now owns 230,254 shares in the company, valued at $2,063,075.84. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after purchasing an additional 4,056 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Newell Brands during the 3rd quarter worth $70,000. Atomi Financial Group Inc. acquired a new stake in Newell Brands in the third quarter valued at about $79,000. Claro Advisors LLC bought a new position in Newell Brands in the third quarter valued at about $79,000. Finally, Versant Capital Management Inc raised its stake in Newell Brands by 24.8% during the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after acquiring an additional 1,666 shares in the last quarter. 92.50% of the stock is currently 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.