Newell Brands (NASDAQ:NWL) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Newell Brands (NASDAQ:NWL) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. UBS Group lifted their price target on shares of Newell Brands from $5.50 to $5.75 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Barclays increased their price objective on shares of Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. raised their price objective on shares of Newell Brands from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Morgan Stanley reaffirmed an “underweight” rating and set a $5.75 price objective on shares of Newell Brands in a research report on Thursday, August 6th. Finally, Citigroup lowered their target price on shares of Newell Brands from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Monday, November 2nd. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.62.

Newell Brands Price Performance

Shares of NASDAQ NWL opened at $5.89 on Friday. The stock’s 50-day moving average is $5.64 and its two-hundred day moving average is $4.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.27 and a quick ratio of 0.67. Newell Brands has a 1-year low of $3.20 and a 1-year high of $7.13. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -7.65, a price-to-earnings-growth ratio of 0.82 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.20. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.86 billion. Newell Brands had a positive return on equity of 13.41% and a negative net margin of 4.42%. Newell Brands’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. Analysts forecast that Newell Brands will post 0.76 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, November 30th. Newell Brands’s dividend payout ratio (DPR) is -36.36%.

Hedge Funds Weigh In On Newell Brands

Several hedge funds have recently added to or reduced their stakes in NWL. Intech Investment Management LLC raised its holdings in Newell Brands by 69.8% during the third quarter. Intech Investment Management LLC now owns 607,295 shares of the company’s stock worth $3,207,000 after purchasing an additional 249,642 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Newell Brands by 1.6% during the 3rd quarter. King Luther Capital Management Corp now owns 1,952,627 shares of the company’s stock worth $10,310,000 after buying an additional 30,000 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Newell Brands by 54.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 95,444 shares of the company’s stock worth $504,000 after buying an additional 33,540 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Newell Brands by 35.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 228,101 shares of the company’s stock valued at $1,204,000 after buying an additional 59,111 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new position in shares of Newell Brands in the 3rd quarter valued at $83,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

About Newell Brands

Newell Brands Inc is a global consumer goods company that develops and sells products for homes, workplaces and outdoor activities. Its portfolio includes household and food-storage products, writing instruments, baby gear, outdoor equipment, appliances, and home-fragrance products.

Its brands include Rubbermaid, Sharpie, Paper Mate, Graco, Coleman, Yankee Candle, Mr. Coffee and Crock-Pot. The company serves consumers and businesses through retailers, e-commerce platforms and other distribution channels in markets around the world.

Newell Brands was formed in 2016 through the combination of Newell Rubbermaid and Jarden Corporation.