JPMorgan Chase & Co. initiated coverage on shares of Newell Brands Inc (NYSE:NWL) in a research note released on Tuesday. The brokerage issued an overweight rating and a $63.00 target price on the stock.
Several other analysts also recently issued reports on NWL. B. Riley restated a buy rating and set a $67.00 price objective on shares of Newell Brands in a report on Tuesday, February 7th. Wells Fargo & Co restated an outperform rating on shares of Newell Brands in a report on Thursday, December 1st. Forward View restated a buy rating and set a $52.00 price objective on shares of Newell Brands in a report on Sunday, January 8th. Barclays PLC set a $60.00 price objective on Newell Brands and gave the stock a buy rating in a report on Saturday, February 18th. Finally, Jefferies Group LLC restated a buy rating and set a $61.00 price objective on shares of Newell Brands in a report on Monday, February 27th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $57.53.
Newell Brands (NYSE:NWL) opened at 47.67 on Tuesday. The firm’s 50-day moving average is $47.83 and its 200-day moving average is $48.45. The firm has a market capitalization of $23.00 billion, a PE ratio of 38.20 and a beta of 0.94. Newell Brands has a 12 month low of $42.79 and a 12 month high of $55.45.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Monday, February 6th. The company reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.27 billion. Newell Brands had a return on equity of 13.59% and a net margin of 3.98%. The business’s revenue for the quarter was up 165.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. On average, equities research analysts expect that Newell Brands will post $3.05 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a $0.19 dividend. The ex-dividend date was Friday, February 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.59%. Newell Brands’s dividend payout ratio is 64.96%.
In other Newell Brands news, President Mark Tarchetti bought 13,000 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were bought at an average price of $45.22 per share, for a total transaction of $587,860.00. Following the acquisition, the president now directly owns 201,995 shares of the company’s stock, valued at $9,134,213.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin E. Franklin sold 340,000 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $48.34, for a total value of $16,435,600.00. Following the completion of the transaction, the director now owns 4,840,926 shares in the company, valued at approximately $234,010,362.84. The disclosure for this sale can be found here. Insiders sold a total of 350,706 shares of company stock worth $16,944,135 in the last quarter. 0.66% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of NWL. Parallel Advisors LLC purchased a new position in Newell Brands during the fourth quarter worth approximately $105,000. SevenBridge Financial Group LLC increased its position in Newell Brands by 13.9% in the third quarter. SevenBridge Financial Group LLC now owns 2,651 shares of the company’s stock worth $138,000 after buying an additional 324 shares in the last quarter. Global X Management Co. LLC increased its position in Newell Brands by 105.8% in the third quarter. Global X Management Co. LLC now owns 2,677 shares of the company’s stock worth $141,000 after buying an additional 1,376 shares in the last quarter. Zions Bancorporation increased its position in Newell Brands by 1.6% in the fourth quarter. Zions Bancorporation now owns 4,426 shares of the company’s stock worth $198,000 after buying an additional 68 shares in the last quarter. Finally, CHICAGO TRUST Co NA purchased a new position in Newell Brands during the third quarter worth approximately $200,000. Institutional investors own 93.22% of the company’s stock.
About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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