AlphaQuest LLC Cuts Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• AlphaQuest LLC reduced its stake in Spectrum Brands Holdings Inc. by 44.9%, selling 9,120 shares and now owning 11,182 shares valued at approximately $800,000.
• Spectrum Brands reported a quarterly revenue of $699.6 million, which was below analyst expectations of $742.13 million, alongside an earnings per share (EPS) of $1.24, missing the consensus forecast.
• The company announced a $0.47 quarterly dividend with an ex-dividend date of August 26th, representing an annualized dividend of $1.88 and a yield of 3.3%.

AlphaQuest LLC trimmed its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 44.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,182 shares of the company's stock after selling 9,120 shares during the period. AlphaQuest LLC's holdings in Spectrum Brands were worth $800,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SPB. Raymond James Financial Inc. purchased a new position in shares of Spectrum Brands during the fourth quarter valued at approximately $972,000. Marshall Wace LLP lifted its holdings in shares of Spectrum Brands by 6.5% during the fourth quarter. Marshall Wace LLP now owns 20,071 shares of the company's stock valued at $1,696,000 after purchasing an additional 1,220 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Spectrum Brands by 261.9% during the fourth quarter. First Trust Advisors LP now owns 163,143 shares of the company's stock valued at $13,784,000 after purchasing an additional 118,060 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Spectrum Brands by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,205 shares of the company's stock valued at $1,623,000 after acquiring an additional 747 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in Spectrum Brands by 3.5% in the 4th quarter. Tudor Investment Corp ET AL now owns 98,140 shares of the company's stock worth $8,292,000 after acquiring an additional 3,324 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on SPB shares. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Wall Street Zen raised Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Canaccord Genuity Group decreased their target price on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company dropped their price target on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. Finally, UBS Group boosted their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Spectrum Brands currently has a consensus rating of "Moderate Buy" and an average price target of $74.80.

Spectrum Brands Stock Performance

Shares of SPB stock traded down $0.45 during mid-day trading on Thursday, reaching $56.07. 488,600 shares of the company's stock traded hands, compared to its average volume of 544,160. Spectrum Brands Holdings Inc. has a 12 month low of $50.73 and a 12 month high of $96.62. The firm has a 50 day moving average price of $55.66 and a two-hundred day moving average price of $62.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The firm has a market capitalization of $1.36 billion, a PE ratio of 20.92 and a beta of 0.86.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). The business had revenue of $699.60 million for the quarter, compared to the consensus estimate of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company's revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. On average, research analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.4%. Spectrum Brands's dividend payout ratio is currently 70.15%.

About Spectrum Brands

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.