Spectrum Brands Holdings Inc. $SPB Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 6.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,617,081 shares of the company’s stock after selling 173,574 shares during the quarter. Vanguard Group Inc. owned 0.11% of Spectrum Brands worth $137,475,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SPB. Headlands Technologies LLC purchased a new stake in Spectrum Brands during the 2nd quarter worth $41,000. SJS Investment Consulting Inc. acquired a new stake in shares of Spectrum Brands in the third quarter valued at about $47,000. State of Alaska Department of Revenue purchased a new stake in shares of Spectrum Brands during the 3rd quarter valued at about $49,000. Nisa Investment Advisors LLC lifted its position in Spectrum Brands by 13.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after acquiring an additional 215 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Spectrum Brands in the 2nd quarter worth approximately $103,000.

Spectrum Brands Stock Down 0.7%

NYSE:SPB opened at $78.13 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.21. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. Spectrum Brands Holdings Inc. has a one year low of $49.99 and a one year high of $80.42. The stock has a 50-day simple moving average of $68.23 and a 200 day simple moving average of $59.99.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.63. Spectrum Brands had a return on equity of 7.65% and a net margin of 3.76%.The company had revenue of $677.00 million for the quarter, compared to the consensus estimate of $667.59 million. During the same quarter last year, the business posted $1.02 EPS. Spectrum Brands’s quarterly revenue was down 3.3% compared to the same quarter last year. Sell-side analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Spectrum Brands’s payout ratio is currently 43.42%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SPB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Royal Bank Of Canada set a $85.00 target price on Spectrum Brands in a research note on Friday, February 6th. Canaccord Genuity Group boosted their price target on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Oppenheimer raised their price objective on Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and an average target price of $83.00.

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.