BNP Paribas Financial Markets Lowers Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

BNP Paribas Financial Markets reduced its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 4.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 116,632 shares of the company's stock after selling 5,481 shares during the quarter. BNP Paribas Financial Markets owned 0.43% of Spectrum Brands worth $9,854,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SPB. Aristeia Capital L.L.C. purchased a new stake in Spectrum Brands in the fourth quarter worth $1,588,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Spectrum Brands during the 4th quarter worth $1,943,000. Freestone Grove Partners LP purchased a new stake in Spectrum Brands in the 4th quarter worth about $424,000. AQR Capital Management LLC raised its stake in Spectrum Brands by 76.4% in the 4th quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock valued at $22,095,000 after acquiring an additional 113,238 shares during the period. Finally, Lido Advisors LLC raised its stake in Spectrum Brands by 769.9% in the 4th quarter. Lido Advisors LLC now owns 6,455 shares of the company's stock valued at $545,000 after acquiring an additional 5,713 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada reduced their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and increased their target price for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Monness Crespi & Hardt cut their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.17.

Spectrum Brands Price Performance

NYSE:SPB traded down $0.44 during mid-day trading on Thursday, hitting $64.56. 338,384 shares of the stock traded hands, compared to its average volume of 417,793. The business's 50-day moving average price is $65.53 and its 200 day moving average price is $78.74. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.70 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 12-month low of $56.50 and a 12-month high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). The firm had revenue of $675.70 million for the quarter, compared to analysts' expectations of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 earnings per share. On average, analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.91%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's payout ratio is 89.95%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.