Bank of America Corp DE Sells 21,974 Shares of Spectrum Brands Holdings Inc. $SPB

Bank of America Corp DE trimmed its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 284,451 shares of the company's stock after selling 21,974 shares during the period. Bank of America Corp DE owned approximately 1.23% of Spectrum Brands worth $20,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPB. ProShare Advisors LLC lifted its holdings in shares of Spectrum Brands by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company's stock valued at $279,000 after buying an additional 140 shares during the period. Federated Hermes Inc. increased its position in Spectrum Brands by 1.3% during the fourth quarter. Federated Hermes Inc. now owns 12,048 shares of the company's stock valued at $712,000 after acquiring an additional 157 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted 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 acquiring an additional 310 shares during the period. Farther Finance Advisors LLC boosted its position in Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock worth $38,000 after purchasing an additional 335 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Spectrum Brands by 58.2% during the 4th quarter. CWM LLC now owns 1,237 shares of the company's stock valued at $73,000 after purchasing an additional 455 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPB. Monness Crespi & Hardt increased their price objective on shares of Spectrum Brands from $86.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Spectrum Brands from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Oppenheimer upped their price objective on Spectrum Brands from $85.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada cut Spectrum Brands from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from $85.00 to $92.00 in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.83.

Spectrum Brands Trading Up 0.2%

Spectrum Brands stock opened at $88.02 on Wednesday. The stock has a market cap of $2.02 billion, a P/E ratio of 26.83, a PEG ratio of 2.84 and a beta of 0.63. Spectrum Brands Holdings Inc. has a 1 year low of $49.99 and a 1 year high of $99.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. The firm's 50 day moving average price is $86.55 and its 200-day moving average price is $80.54.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data 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 net margin of 2.76% and a return on equity of 10.06%. The business had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. During the same quarter in the prior year, the firm earned $1.24 EPS. The business's revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that Spectrum Brands Holdings Inc. will post 6.38 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Spectrum Brands's dividend payout ratio is 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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