Cresset Asset Management LLC Decreases Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Cresset Asset Management LLC cut its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 77.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,667 shares of the company's stock after selling 9,236 shares during the quarter. Cresset Asset Management LLC's holdings in Spectrum Brands were worth $225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brevan Howard Capital Management LP lifted its stake in shares of Spectrum Brands by 290.4% in the fourth quarter. Brevan Howard Capital Management LP now owns 14,942 shares of the company's stock valued at $1,262,000 after buying an additional 11,115 shares in the last quarter. Bridgefront Capital LLC bought a new position in shares of Spectrum Brands during the fourth quarter valued at about $456,000. Bayesian Capital Management LP bought a new position in shares of Spectrum Brands during the fourth quarter valued at about $414,000. Aristeia Capital L.L.C. bought a new position in shares of Spectrum Brands during the fourth quarter valued at about $1,588,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Spectrum Brands during the fourth quarter valued at about $1,943,000.

Analysts Set New Price Targets

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

Spectrum Brands Price Performance

Shares of SPB stock traded down $0.47 during trading hours on Friday, reaching $58.05. The stock had a trading volume of 622,606 shares, compared to its average volume of 413,721. Spectrum Brands Holdings, Inc. has a 12 month low of $56.50 and a 12 month high of $96.62. The firm has a market capitalization of $1.45 billion, a PE ratio of 14.26, a PEG ratio of 1.70 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The stock's fifty day simple moving average is $64.12 and its 200 day simple moving average is $77.28.

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 the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The company had revenue of $675.70 million for the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The company's revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.24%. Spectrum Brands's payout ratio is 89.95%.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura sold 5,180 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the sale, the chief executive officer now directly owns 718,427 shares in the company, valued at approximately $45,814,089.79. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.60% of the company's stock.

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.