Campbell & CO Investment Adviser LLC Acquires Shares of 39,167 Spectrum Brands Holdings Inc. $SPB

Key Points

• Campbell & CO Investment Adviser LLC has acquired a new stake in Spectrum Brands Holdings Inc., purchasing 39,167 shares valued at approximately $2.80 million.
• Despite a decrease in quarterly revenue of 10.2%, Spectrum Brands reported an EPS of $1.24, slightly missing analysts' expectations.
• The company also announced a quarterly dividend of $0.47, which equates to an annualized yield of 3.3%.

Campbell & CO Investment Adviser LLC acquired a new position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,167 shares of the company's stock, valued at approximately $2,802,000. Campbell & CO Investment Adviser LLC owned approximately 0.15% of Spectrum Brands at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SPB. Man Group plc increased its holdings in shares of Spectrum Brands by 160.5% during the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock worth $27,052,000 after buying an additional 197,263 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Spectrum Brands by 403.9% in the fourth quarter. Two Sigma Advisers LP now owns 233,800 shares of the company's stock valued at $19,754,000 after purchasing an additional 187,400 shares in the last quarter. Alberta Investment Management Corp increased its holdings in shares of Spectrum Brands by 33.1% in the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock valued at $53,665,000 after purchasing an additional 186,729 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Spectrum Brands in the first quarter valued at approximately $11,579,000. Finally, First Trust Advisors LP increased its holdings in shares of Spectrum Brands by 261.9% in 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 in the last quarter.

Analysts Set New Price Targets

SPB has been the subject of a number of research reports. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the company an "outperform" rating in a report on Monday, August 11th. Canaccord Genuity Group lowered their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Monness Crespi & Hardt reduced their price objective on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Wells Fargo & Company reduced their price objective on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Finally, Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $74.80.

Spectrum Brands Trading Down 0.8%

Shares of NYSE SPB traded down $0.45 during midday trading on Thursday, reaching $56.07. 488,600 shares of the stock were exchanged, compared to its average volume of 544,160. The business has a 50-day simple moving average of $55.74 and a two-hundred day simple moving average of $62.18. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 20.92 and a beta of 0.86. Spectrum Brands Holdings Inc. has a 12 month low of $50.73 and a 12 month high of $96.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.01). The company had revenue of $699.60 million during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. As a group, equities research analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands's payout ratio is presently 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.