American Century Companies Inc. lifted its holdings in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,319,420 shares of the company's stock after buying an additional 92,418 shares during the period. American Century Companies Inc. owned approximately 5.01% of Spectrum Brands worth $94,405,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its stake 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 buying an additional 489 shares during the last quarter. New York State Teachers Retirement System bought a new position in Spectrum Brands during the first quarter valued at $118,000. Lazard Asset Management LLC grew its holdings in Spectrum Brands by 89.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock valued at $123,000 after purchasing an additional 692 shares during the period. Pallas Capital Advisors LLC bought a new position in Spectrum Brands during the first quarter valued at $253,000. Finally, Blueshift Asset Management LLC bought a new position in Spectrum Brands during the first quarter valued at $258,000.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Canaccord Genuity Group reduced their price objective on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Wells Fargo & Company reduced their price objective 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. Wall Street Zen raised Spectrum Brands from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the company an "outperform" rating in a report on Monday, August 11th. Finally, Monness Crespi & Hardt reduced their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Four 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 stock has a consensus rating of "Moderate Buy" and an average price target of $74.80.
View Our Latest Stock Report on SPB
Spectrum Brands Stock Performance
Shares of NYSE:SPB traded down $0.7250 during trading on Thursday, hitting $54.4650. 271,216 shares of the company were exchanged, compared to its average volume of 547,050. The company has a market cap of $1.32 billion, a PE ratio of 20.32 and a beta of 0.86. The stock has a 50 day moving average of $55.31 and a 200 day moving average of $63.15. Spectrum Brands Holdings Inc. has a 52-week low of $50.73 and a 52-week high of $96.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.
Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.01). The company had revenue of $699.60 million for the quarter, compared to analysts' expectations of $742.13 million. Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The company's revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, equities research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.
Spectrum Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.88 annualized dividend and a dividend yield of 3.5%. Spectrum Brands's dividend payout ratio is currently 70.15%.
Spectrum Brands Profile
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Free Report)
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.
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