Woodline Partners LP Sells 35,499 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Woodline Partners LP cut its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 31.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,398 shares of the company's stock after selling 35,499 shares during the quarter. Woodline Partners LP owned 0.28% of Spectrum Brands worth $6,455,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SPB. Barclays PLC increased its holdings in shares of Spectrum Brands by 71.4% in the 3rd quarter. Barclays PLC now owns 35,407 shares of the company's stock valued at $3,369,000 after purchasing an additional 14,746 shares during the period. SG Americas Securities LLC increased its holdings in Spectrum Brands by 478.4% in the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock worth $1,141,000 after buying an additional 11,166 shares during the last quarter. Blue Trust Inc. increased its holdings in Spectrum Brands by 46.5% in the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock worth $100,000 after buying an additional 375 shares during the last quarter. KBC Group NV increased its holdings in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company's stock worth $104,000 after buying an additional 390 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its holdings in Spectrum Brands by 30.4% in the fourth quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company's stock worth $12,674,000 after buying an additional 35,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

SPB has been the topic of several analyst reports. Monness Crespi & Hardt lowered their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. UBS Group increased their price target on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Royal Bank of Canada lowered their price target on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Spectrum Brands presently has an average rating of "Moderate Buy" and an average target price of $89.17.

Insiders Place Their Bets

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

Spectrum Brands Stock Performance

Shares of SPB traded up $1.34 during mid-day trading on Thursday, hitting $58.21. The company's stock had a trading volume of 133,057 shares, compared to its average volume of 414,448. Spectrum Brands Holdings, Inc. has a one year low of $56.50 and a one year high of $96.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The firm has a market capitalization of $1.46 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The stock's 50-day moving average is $63.38 and its two-hundred day moving average is $76.67.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.67). The firm had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the business earned $1.62 earnings per share. As a group, sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 3.23%. Spectrum Brands's dividend payout ratio is currently 89.95%.

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.