24,869 Shares in Spectrum Brands Holdings Inc. $SPB Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 24,869 shares of Spectrum Brands in the second quarter, valued at approximately $2.13 million and representing about 0.11% of the company.
• Analyst sentiment remains mixed, with three Buy ratings and four Hold ratings. The consensus price target is $98.83, while recent targets range from $90 to $110.
• Spectrum Brands exceeded quarterly expectations, reporting $2.79 in EPS and $753.3 million in revenue, up 7.7% year over year. The company also declared a quarterly dividend of $0.47 per share, implying a 2.1% annualized yield.

Deutsche Bank AG bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 24,869 shares of the company's stock, valued at approximately $2,133,000. Deutsche Bank AG owned about 0.11% of Spectrum Brands as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. Global Retirement Partners LLC acquired a new position in Spectrum Brands in the 2nd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company's stock valued at $31,000 after purchasing an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock valued at $37,000 after purchasing an additional 310 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock worth $38,000 after buying an additional 335 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Spectrum Brands during the 2nd quarter worth approximately $41,000.

Analysts Set New Price Targets

SPB has been the topic of a number of recent research reports. Monness Crespi & Hardt upped their price objective on Spectrum Brands from $86.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Royal Bank Of Canada lowered Spectrum Brands from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from $85.00 to $92.00 in a report on Monday, August 10th. Wall Street Zen cut Spectrum Brands from a "buy" rating to a "hold" rating in a research note on Sunday, June 21st. Wells Fargo & Company boosted their target price on Spectrum Brands from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Finally, Canaccord Genuity Group upped their price target on Spectrum Brands from $99.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $98.83.

Spectrum Brands Price Performance

Shares of SPB opened at $88.60 on Friday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.80 and a beta of 0.63. The firm's fifty day simple moving average is $87.26 and its 200-day simple moving average is $81.50. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $99.06. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The firm had revenue of $753.30 million for the quarter, compared to analyst estimates of $732.19 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. Spectrum Brands's revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts forecast that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.1%. Spectrum Brands's dividend payout ratio is presently 57.32%.

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.

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