Bridgefront Capital LLC bought a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,395 shares of the company's stock, valued at approximately $456,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Charles Schwab Investment Management Inc. lifted its stake in shares of Spectrum Brands by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock worth $38,089,000 after purchasing an additional 7,198 shares during the period. Empowered Funds LLC acquired a new stake in shares of Spectrum Brands during the fourth quarter valued at about $387,000. SG Americas Securities LLC grew its stake in Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock valued at $1,141,000 after purchasing an additional 11,166 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in Spectrum Brands during the 4th quarter worth approximately $16,606,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Spectrum Brands during the 4th quarter valued at approximately $972,000.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target 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. UBS Group lifted their target price on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, Wells Fargo & Company decreased 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Spectrum Brands currently has an average rating of "Moderate Buy" and a consensus price target of $95.71.
View Our Latest Stock Analysis on Spectrum Brands
Spectrum Brands Stock Performance
SPB stock traded down $2.27 during mid-day trading on Friday, reaching $61.83. The company had a trading volume of 663,349 shares, compared to its average volume of 417,453. Spectrum Brands Holdings, Inc. has a one year low of $56.50 and a one year high of $96.74. The stock has a market capitalization of $1.63 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.70 and a beta of 1.00. 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 stock's 50-day simple moving average is $66.03 and its two-hundred day simple moving average is $79.22.
Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The firm had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. During the same period in the previous year, the firm earned $1.62 earnings per share. The company's revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.
Spectrum Brands Announces Dividend
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 $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.04%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's dividend payout ratio is currently 46.19%.
About Spectrum Brands
(
Free Report)
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.
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