Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 13.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,022 shares of the company's stock after selling 6,122 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.14% of Spectrum Brands worth $3,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wealthfront Advisers LLC bought a new stake in shares of Spectrum Brands during the 4th quarter valued at about $16,606,000. Trexquant Investment LP boosted its stake in Spectrum Brands by 2,541.2% in the fourth quarter. Trexquant Investment LP now owns 148,698 shares of the company's stock valued at $12,563,000 after acquiring an additional 143,068 shares during the period. Callodine Capital Management LP grew its holdings in shares of Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after purchasing an additional 121,000 shares during the last quarter. First Trust Advisors LP grew 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. Finally, AQR Capital Management LLC raised its position in shares of Spectrum Brands by 76.4% during the 4th quarter. AQR Capital Management LLC now owns 261,507 shares of the company's stock worth $22,095,000 after purchasing an additional 113,238 shares during the period.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total transaction of $330,328.60. Following the completion of the transaction, the chief executive officer now owns 718,427 shares of the company's stock, valued at $45,814,089.79. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.60% of the company's stock.

Spectrum Brands Stock Performance

Shares of NYSE:SPB traded down $1.57 on Thursday, hitting $58.55. The company's stock had a trading volume of 604,934 shares, compared to its average volume of 413,638. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. Spectrum Brands Holdings, Inc. has a 12 month low of $56.50 and a 12 month high of $96.62. The stock's 50-day moving average is $64.65 and its two-hundred day moving average is $77.82.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its 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 company had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The business's quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's dividend payout ratio (DPR) is presently 89.95%.

Analyst Upgrades and Downgrades

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

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.