Hsbc Holdings PLC Has $1.12 Million Position in Spectrum Brands Holdings Inc. $SPB

Key Points

• Hsbc Holdings PLC reduced its stake in Spectrum Brands Holdings Inc. by 63.2% in the first quarter, now owning approximately $1.12 million worth of shares.
• Analysts have provided mixed ratings for Spectrum Brands, with target price adjustments ranging from **$60.00 to $86.00**, and a consensus rating of "Moderate Buy."
• Spectrum Brands announced a quarterly dividend of $0.47, yielding 3.3%, with a payout ratio of 70.15%.

Hsbc Holdings PLC trimmed its position in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 63.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,832 shares of the company's stock after selling 27,241 shares during the period. Hsbc Holdings PLC owned about 0.06% of Spectrum Brands worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SPB. Versant Capital Management Inc increased its position in Spectrum Brands by 101.7% in the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company's stock worth $69,000 after purchasing an additional 489 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Spectrum Brands in the 1st quarter valued at approximately $118,000. Lazard Asset Management LLC increased its holdings in Spectrum Brands by 89.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after buying an additional 692 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in Spectrum Brands in the first quarter worth approximately $253,000. Finally, Blueshift Asset Management LLC bought a new position in Spectrum Brands during the first quarter valued at approximately $258,000.

Analyst Upgrades and Downgrades

Several research firms have commented on SPB. 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 price objective on shares of Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. UBS Group upped their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Canaccord Genuity Group cut their target price on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Wells Fargo & Company reduced their price target on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.80.

Spectrum Brands Stock Performance

SPB stock traded up $1.02 during mid-day trading on Thursday, reaching $55.75. 271,379 shares of the stock traded hands, compared to its average volume of 494,651. The firm has a market capitalization of $1.35 billion, a PE ratio of 20.80 and a beta of 0.83. The business has a 50-day moving average of $56.09 and a two-hundred day moving average of $61.43. Spectrum Brands Holdings Inc. has a 52 week low of $50.73 and a 52 week high of $96.62. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The business had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. During the same period in the prior year, the firm posted $1.13 EPS. Spectrum Brands's revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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