34,457 Shares in Spectrum Brands Holdings Inc. $SPB Bought by PEAK6 LLC

Key Points

• PEAK6 LLC acquired 34,457 shares of Spectrum Brands during the second quarter, worth approximately $2.96 million and representing about 0.15% of the company. Several other institutional investors also initiated or increased positions.
• Spectrum Brands reported quarterly EPS of $2.79, beating estimates of $1.46, while revenue rose 7.7% year over year to $753.3 million. Analysts maintain a consensus “Hold” rating with an average price target of $98.83.
• The company declared a quarterly dividend of $0.47 per share, or $1.88 annually, equating to a 2.2% yield and a 57.32% payout ratio.

PEAK6 LLC acquired a new stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 34,457 shares of the company's stock, valued at approximately $2,955,000. PEAK6 LLC owned about 0.15% of Spectrum Brands at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPB. Global Retirement Partners LLC acquired a new stake in shares of Spectrum Brands in the 2nd quarter valued at about $27,000. Allworth Financial LP acquired a new position in Spectrum Brands in the second quarter worth about $29,000. Northwestern Mutual Wealth Management Co. grew its stake in Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company's stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in 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 buying an additional 310 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock valued at $38,000 after buying an additional 335 shares in the last quarter.

Wall Street Analyst Weigh In

SPB has been the subject of a number of research analyst reports. Royal Bank Of Canada downgraded Spectrum Brands from an "outperform" rating to a "sector perform" rating and boosted their price target for the company from $85.00 to $92.00 in a report on Monday, August 10th. Monness Crespi & Hardt boosted their target price on shares of Spectrum Brands from $86.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Oppenheimer increased their target price on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Finally, Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $98.83.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $86.93 on Monday. 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 Holdings Inc. has a 52 week low of $49.99 and a 52 week high of $99.06. The firm's 50 day moving average is $86.82 and its two-hundred day moving average is $81.02. The firm has a market capitalization of $2.00 billion, a P/E ratio of 26.50, a PEG ratio of 2.74 and a beta of 0.63.

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

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Spectrum Brands's dividend payout ratio is currently 57.32%.

Spectrum Brands Company 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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