Envestnet Asset Management Inc. Reduces Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Envestnet Asset Management Inc. trimmed its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 40.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,087 shares of the company's stock after selling 5,530 shares during the period. Envestnet Asset Management Inc.'s holdings in Spectrum Brands were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPB. Wealthfront Advisers LLC purchased a new position in Spectrum Brands during the 4th quarter valued at about $16,606,000. Trexquant Investment LP raised its position in shares of Spectrum Brands by 2,541.2% during the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company's stock worth $12,563,000 after purchasing an additional 143,068 shares during the last quarter. Norges Bank acquired a new stake in Spectrum Brands during the 4th quarter valued at $7,062,000. ExodusPoint Capital Management LP increased its position in Spectrum Brands by 233.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 88,539 shares of the company's stock worth $7,481,000 after buying an additional 61,984 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its position in Spectrum Brands by 37.9% during the fourth quarter. Great Lakes Advisors LLC now owns 152,068 shares of the company's stock worth $12,848,000 after buying an additional 41,792 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on SPB shares. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and increased their price objective for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada cut 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 report on Friday, February 7th. Finally, UBS Group decreased their target price on shares of Spectrum Brands from $106.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.43.

Spectrum Brands Trading Down 0.8 %

NYSE:SPB traded down $0.50 during trading hours on Friday, reaching $63.60. 119,383 shares of the company were exchanged, compared to its average volume of 469,403. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.70 and a beta of 1.00. The stock has a 50 day simple moving average of $66.26 and a 200 day simple moving average of $79.41. Spectrum Brands Holdings, Inc. has a 52-week low of $56.50 and a 52-week high of $96.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). The firm had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The business's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 earnings per share. As a group, analysts predict 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 issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.96%. Spectrum Brands's payout ratio is 46.19%.

Spectrum Brands Company 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.