Newell Brands (NYSE:NWL) had its price target raised by Citigroup from $25.00 to $27.00 in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.
Several other equities research analysts have also commented on NWL. Deutsche Bank lowered their price objective on Newell Brands to $23.00 and set a hold rating on the stock in a research report on Tuesday, August 7th. Bank of America lowered their price objective on Newell Brands from $30.00 to $25.00 and set a neutral rating on the stock in a research report on Tuesday, August 7th. Jefferies Financial Group lowered their price objective on Newell Brands from $29.00 to $23.00 and set a hold rating on the stock in a research report on Wednesday, August 8th. BMO Capital Markets lowered their price objective on Newell Brands from $27.00 to $25.00 and set a hold rating on the stock in a research report on Wednesday, August 8th. Finally, Royal Bank of Canada restated a hold rating and issued a $24.00 price objective on shares of Newell Brands in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $26.73.
Shares of NYSE:NWL opened at $22.68 on Tuesday. Newell Brands has a twelve month low of $15.11 and a twelve month high of $32.58. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98. The company has a market capitalization of $10.72 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 3.87 and a beta of 0.92.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.06%. Newell Brands’s dividend payout ratio (DPR) is 33.45%.
In other Newell Brands news, Director Brett Icahn bought 100,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were purchased at an average price of $20.03 per share, for a total transaction of $2,003,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James L. Cunningham III sold 22,331 shares of the stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $23.45, for a total value of $523,661.95. Following the transaction, the senior vice president now owns 7,321 shares in the company, valued at approximately $171,677.45. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in Newell Brands by 3.9% in the 3rd quarter. Legal & General Group Plc now owns 2,144,613 shares of the company’s stock valued at $43,536,000 after purchasing an additional 80,486 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in Newell Brands in the 3rd quarter valued at $220,000. TIAA CREF Investment Management LLC lifted its holdings in Newell Brands by 7.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,596,926 shares of the company’s stock valued at $32,418,000 after purchasing an additional 117,363 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Newell Brands by 28.3% in the 3rd quarter. Teachers Advisors LLC now owns 2,783,541 shares of the company’s stock valued at $56,506,000 after purchasing an additional 614,285 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Newell Brands in the 3rd quarter valued at $769,000. Hedge funds and other institutional investors own 98.42% of the company’s stock.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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