Wells Fargo & Co. Initiates Coverage on Newell Brands Inc. (NWL)
Investment analysts at Wells Fargo & Co. initiated coverage on shares of Newell Brands Inc. (NYSE:NWL) in a report issued on Tuesday. The firm set an “outperform” rating on the stock.
NWL has been the topic of several other reports. B. Riley reaffirmed a “buy” rating and set a $60.00 price objective on shares of Newell Brands in a research report on Wednesday, October 5th. Jefferies Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of Newell Brands in a research report on Tuesday, October 4th. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Monday, October 3rd. Citigroup Inc. reaffirmed a “buy” rating and set a $61.00 price objective on shares of Newell Brands in a research report on Tuesday, August 2nd. Finally, RBC Capital Markets reiterated a “buy” rating on shares of Newell Brands in a research report on Monday, August 1st. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $58.75.
Shares of Newell Brands (NYSE:NWL) opened at 46.93 on Tuesday. The firm’s 50-day moving average price is $50.44 and its 200-day moving average price is $50.19. The company has a market cap of $22.64 billion, a PE ratio of 45.74 and a beta of 1.03. Newell Brands has a 12 month low of $33.26 and a 12 month high of $55.45.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Friday, October 28th. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. The company earned $3.95 billion during the quarter, compared to the consensus estimate of $4.06 billion. Newell Brands had a return on equity of 14.92% and a net margin of 3.51%. Newell Brands’s revenue was up 158.5% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. Equities analysts predict that Newell Brands will post $2.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, November 28th. Newell Brands’s dividend payout ratio is currently 86.36%.
In other news, President Mark Tarchetti acquired 12,436 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was bought at an average cost of $48.15 per share, with a total value of $598,793.40. Following the transaction, the president now directly owns 188,995 shares in the company, valued at approximately $9,100,109.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael B. Polk acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was purchased at an average cost of $47.82 per share, with a total value of $191,280.00. Following the completion of the transaction, the chief executive officer now owns 338,169 shares in the company, valued at $16,171,241.58. The disclosure for this purchase can be found here. Corporate insiders own 0.66% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in Newell Brands by 66.6% in the second quarter. Quadrant Capital Group LLC now owns 2,467 shares of the company’s stock worth $116,000 after buying an additional 986 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of 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 during the period. Seven Bridges Advisors LLC bought a new stake in shares of Newell Brands during the second quarter worth about $137,000. Parkside Financial Bank & Trust raised its stake in shares of Newell Brands by 13.2% in the second quarter. Parkside Financial Bank & Trust now owns 2,837 shares of the company’s stock worth $138,000 after buying an additional 330 shares during the period. Finally, FineMark National Bank & Trust bought a new stake in shares of Newell Brands during the second quarter worth about $146,000. 94.94% of the stock is owned by institutional investors.
Newell Brands Company Profile
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
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