Jefferies Financial Group Inc. Acquires New Shares in Spectrum Brands Holdings Inc. (NYSE:SPB)

Key Points

• Jefferies Financial Group Inc. has invested approximately $1.54 million in Spectrum Brands Holdings, acquiring 21,466 shares during the first quarter.
• The company's CEO, David M. Maura, sold 66,000 shares, reducing his ownership by 8.36% and leaving him with shares valued at around $47.4 million.
• Spectrum Brands recently reported a net revenue decline of 6.0% year-over-year, with earnings per share of $0.68, falling short of analysts' expectations of $1.35.

Jefferies Financial Group Inc. purchased a new position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,466 shares of the company's stock, valued at approximately $1,536,000. Jefferies Financial Group Inc. owned about 0.08% of Spectrum Brands at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SPB. Versant Capital Management Inc raised its holdings in shares of 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 period. New York State Teachers Retirement System purchased a new position in shares of Spectrum Brands in the 1st quarter worth about $118,000. Lazard Asset Management LLC raised its holdings in shares of Spectrum Brands by 89.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after purchasing an additional 692 shares during the period. Pallas Capital Advisors LLC purchased a new position in shares of Spectrum Brands in the 1st quarter worth about $253,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Spectrum Brands by 13.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company's stock worth $275,000 after purchasing an additional 396 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SPB shares. Monness Crespi & Hardt cut their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. UBS Group raised their target price on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company dropped their target price on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 9th. Finally, Canaccord Genuity Group set a $77.00 target price on Spectrum Brands and gave the company a "buy" rating in a report on Wednesday, June 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Spectrum Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.17.

Spectrum Brands Stock Up 2.3%

SPB stock traded up $1.24 during midday trading on Tuesday, hitting $54.18. 598,496 shares of the company's stock were exchanged, compared to its average volume of 514,424. The company has a current ratio of 2.34, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34. 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 $55.25 and a 200-day moving average price of $65.22. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 25.93 and a beta of 0.86.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The business had revenue of $675.70 million for the quarter, compared to analysts' expectations of $701.00 million. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Spectrum Brands's revenue for the quarter was down 6.0% compared to the same quarter last year. On average, analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced 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 3.5%. Spectrum Brands's payout ratio is 89.95%.

Insider Activity at Spectrum Brands

In other news, CEO David M. Maura sold 66,000 shares of Spectrum Brands stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total value of $4,324,980.00. Following the completion of the transaction, the chief executive officer owned 723,607 shares in the company, valued at approximately $47,417,966.71. This trade represents a 8.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company's stock.

Spectrum Brands 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.