Hsbc Holdings PLC Sells 27,241 Shares of 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 lessened its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 63.2% during the 1st quarter, according to its most recent disclosure with the SEC. 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 SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SPB. Man Group plc raised its holdings in 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 acquiring an additional 197,263 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Spectrum Brands by 403.9% during 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 in the last quarter. Alberta Investment Management Corp raised its holdings in Spectrum Brands by 33.1% during 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 in the last quarter. Nuveen LLC bought a new stake in Spectrum Brands during the first quarter worth about $11,579,000. Finally, AQR Capital Management LLC grew its holdings in Spectrum Brands by 76.4% during the fourth 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.

Spectrum Brands Stock Performance

NYSE SPB traded down $2.01 during trading on Tuesday, reaching $54.98. The company's stock had a trading volume of 614,084 shares, compared to its average volume of 544,539. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 20.51 and a beta of 0.83. Spectrum Brands Holdings Inc. has a 12 month low of $50.73 and a 12 month high of $96.62. The firm has a 50 day moving average price of $55.93 and a 200 day moving average price of $61.68.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). The business 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 business's revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. As a group, equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Spectrum Brands's dividend payout ratio (DPR) is currently 70.15%.

Wall Street Analysts Forecast Growth

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