Comerica Bank Decreases Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Comerica Bank cut its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 93.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922 shares of the company's stock after selling 13,683 shares during the quarter. Comerica Bank's holdings in Spectrum Brands were worth $78,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Spectrum Brands by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after buying an additional 7,198 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Spectrum Brands during the 4th quarter valued at $387,000. SG Americas Securities LLC raised its position in shares of Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock valued at $1,141,000 after buying an additional 11,166 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in Spectrum Brands in the 4th quarter worth $16,606,000. Finally, Raymond James Financial Inc. purchased a new position in Spectrum Brands in the 4th quarter worth $972,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPB. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and lifted their target price for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Monness Crespi & Hardt decreased their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Royal Bank of Canada decreased their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. UBS Group lifted their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company decreased their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.17.

Spectrum Brands Trading Down 0.8%

Spectrum Brands stock traded down $0.47 during trading hours on Friday, reaching $58.05. The stock had a trading volume of 622,606 shares, compared to its average volume of 413,721. The stock has a market cap of $1.45 billion, a PE ratio of 14.26, a PEG ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 52 week low of $56.50 and a 52 week high of $96.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The company has a fifty day simple moving average of $64.12 and a 200-day simple moving average of $77.28.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). The firm had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. Spectrum Brands's revenue was down 6.0% on a year-over-year basis. During the same period last year, the business earned $1.62 EPS. Analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's dividend payout ratio (DPR) is presently 89.95%.

Insider Activity

In other news, CEO David M. Maura sold 66,000 shares of Spectrum Brands stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $65.53, for a total transaction of $4,324,980.00. Following the sale, the chief executive officer now owns 723,607 shares of the company's stock, valued at approximately $47,417,966.71. The trade was a 8.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.60% of the company's stock.

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.