Spectrum Brands Holdings Inc. $SPB Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its position in Spectrum Brands Holdings Inc. by 63.1% in Q1, now owning 56,145 shares worth approximately $4.02 million.
• Multiple institutional investors have adjusted their stakes in Spectrum Brands, with Goldman Sachs increasing holdings by 40.9% to 393,084 shares valued at about $28.1 million.
• Analysts have mixed opinions on Spectrum Brands with price targets ranging from $60.00 to $86.00, while the company currently has a consensus rating of "Moderate Buy."

Great Lakes Advisors LLC reduced its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 63.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,145 shares of the company's stock after selling 95,923 shares during the period. Great Lakes Advisors LLC owned 0.22% of Spectrum Brands worth $4,017,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SPB. AQR Capital Management LLC boosted its stake in shares of Spectrum Brands by 142.5% during the 1st quarter. AQR Capital Management LLC now owns 634,137 shares of the company's stock worth $44,592,000 after purchasing an additional 372,630 shares during the last quarter. Callodine Capital Management LP boosted its position in shares of Spectrum Brands by 38.4% in the first quarter. Callodine Capital Management LP now owns 730,000 shares of the company's stock worth $52,232,000 after acquiring an additional 202,500 shares during the last quarter. Man Group plc boosted its position in shares of Spectrum Brands by 160.5% in the fourth quarter. Man Group plc now owns 320,178 shares of the company's stock worth $27,052,000 after acquiring an additional 197,263 shares during the last quarter. Two Sigma Advisers LP boosted its position 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 worth $19,754,000 after acquiring an additional 187,400 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its position 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 worth $53,665,000 after acquiring an additional 186,729 shares during the last quarter.

Spectrum Brands Stock Down 1.4%

Shares of NYSE:SPB traded down $0.76 during midday trading on Monday, reaching $52.60. The company had a trading volume of 108,335 shares, compared to its average volume of 531,291. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50. The stock's fifty day moving average price is $56.09 and its 200-day moving average price is $60.19. The stock has a market capitalization of $1.27 billion, a P/E ratio of 19.62 and a beta of 0.83. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The firm's quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 EPS. Equities research analysts expect that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands's payout ratio is 70.15%.

Analyst Upgrades and Downgrades

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

Spectrum Brands Company Profile

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.