Maverick Capital Ltd. Purchases 16,238 Shares of Spectrum Brands Holdings Inc. $SPB

Maverick Capital Ltd. boosted its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 31.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,826 shares of the company’s stock after purchasing an additional 16,238 shares during the quarter. Maverick Capital Ltd. owned about 0.29% of Spectrum Brands worth $4,999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SPB. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after buying an additional 2,196,079 shares during the period. Callodine Capital Management LP raised its holdings in shares of Spectrum Brands by 20.4% in the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after acquiring an additional 350,261 shares in the last quarter. LSV Asset Management lifted its stake in Spectrum Brands by 2.9% in the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock worth $35,624,000 after acquiring an additional 17,100 shares during the period. Charles Schwab Investment Management Inc. increased its position in Spectrum Brands by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 579,941 shares of the company’s stock valued at $34,263,000 after purchasing an additional 33,194 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Spectrum Brands by 71.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock valued at $28,606,000 after purchasing an additional 224,481 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $81.00 price target on shares of Spectrum Brands in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spectrum Brands in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Canaccord Genuity Group decreased their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company raised their price target on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.00.

Spectrum Brands Trading Up 0.2%

Spectrum Brands stock opened at $88.97 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The stock has a market cap of $2.05 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64. The stock has a 50-day moving average of $83.22 and a two-hundred day moving average of $77.67. Spectrum Brands Holdings Inc. has a one year low of $49.99 and a one year high of $91.42.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The business had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, May 26th. Spectrum Brands’s payout ratio is currently 35.88%.

Insiders Place Their Bets

In related news, CEO David M. Maura purchased 2,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, the chief executive officer owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.