Newell Brands (NASDAQ:NWL) Given New $8.00 Price Target at Wells Fargo & Company

Newell Brands (NASDAQ:NWL) had its price target raised by Wells Fargo & Company from $7.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts also recently commented on NWL. Royal Bank of Canada decreased their target price on Newell Brands from $9.00 to $7.50 and set a sector perform rating on the stock in a research report on Monday, February 12th. UBS Group downgraded Newell Brands from a buy rating to a neutral rating and lowered their target price for the company from $10.00 to $8.50 in a research report on Friday, February 16th. Citigroup boosted their price target on shares of Newell Brands from $7.50 to $8.00 and gave the stock a neutral rating in a research report on Monday. 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 research report on Monday. Finally, Morgan Stanley reduced their target price on shares of Newell Brands from $8.50 to $7.75 and set an equal weight rating on the stock in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Newell Brands presently has a consensus rating of Hold and a consensus price target of $8.52.

Newell Brands Stock Up 3.3 %

Shares of Newell Brands stock opened at $8.05 on Monday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.58 and a current ratio of 1.15. The stock’s 50-day simple moving average is $7.49 and its 200-day simple moving average is $7.75. Newell Brands has a 52 week low of $6.49 and a 52 week high of $12.02.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, April 26th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm earned ($0.06) EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. As a group, research analysts predict that Newell Brands will post 0.56 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 3.48%. Newell Brands’s payout ratio is -38.89%.

Hedge Funds Weigh In On Newell Brands

A number of large investors have recently bought and sold shares of the business. Quarry LP boosted its position in Newell Brands by 106.2% in the 4th quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after buying an additional 2,437 shares during the period. Quest Partners LLC purchased a new stake in shares of Newell Brands in the fourth quarter valued at approximately $45,000. NBC Securities Inc. grew its stake in Newell Brands by 50.5% in the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after purchasing an additional 1,780 shares in the last quarter. Authentikos Wealth Advisory LLC bought a new position in Newell Brands in the third quarter worth approximately $51,000. Finally, GAMMA Investing LLC purchased a new position in Newell Brands during the 4th quarter worth $61,000. Hedge funds and other institutional investors 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.