Teza Capital Management LLC Has $208,000 Holdings in Spectrum Brands Holdings Inc. $SPB

Key Points

• Teza Capital Management LLC significantly reduced its stake in Spectrum Brands Holdings by 76.9%, ending the quarter with 2,913 shares valued at approximately $208,000.
• Several analysts have adjusted their price targets for Spectrum Brands, with the average target now set at $74.80 and a consensus rating of "Moderate Buy".
• Spectrum Brands recently announced a quarterly dividend of $0.47 per share, reflecting a 3.4% dividend yield with a payout ratio of 70.15%.

Teza Capital Management LLC decreased its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 76.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,913 shares of the company's stock after selling 9,685 shares during the period. Teza Capital Management LLC's holdings in Spectrum Brands were worth $208,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Parkwood LLC boosted its stake in Spectrum Brands by 9.9% during the 1st quarter. Parkwood LLC now owns 137,524 shares of the company's stock valued at $9,840,000 after purchasing an additional 12,406 shares during the period. NewEdge Advisors LLC lifted its position in shares of Spectrum Brands by 173.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,389 shares of the company's stock worth $386,000 after acquiring an additional 3,415 shares during the period. Millennium Management LLC lifted its position in shares of Spectrum Brands by 64.7% in the 1st quarter. Millennium Management LLC now owns 166,496 shares of the company's stock worth $11,913,000 after acquiring an additional 65,424 shares during the period. AQR Capital Management LLC lifted its position in shares of Spectrum Brands by 142.5% in the 1st quarter. AQR Capital Management LLC now owns 634,137 shares of the company's stock worth $44,592,000 after acquiring an additional 372,630 shares during the period. Finally, Amundi bought a new stake in shares of Spectrum Brands in the 1st quarter worth approximately $176,000.

Analyst Upgrades and Downgrades

SPB has been the subject of a number of research reports. Royal Bank Of Canada set a $75.00 price objective on Spectrum Brands and gave the stock an "outperform" rating in a research report on Monday, August 11th. Canaccord Genuity Group cut their target price on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wall Street Zen upgraded Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company cut their target price on Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Spectrum Brands presently has a consensus rating of "Moderate Buy" and an average target price of $74.80.

Spectrum Brands Price Performance

SPB traded down $0.92 during trading on Monday, hitting $52.44. The company's stock had a trading volume of 82,740 shares, compared to its average volume of 531,191. The firm's 50 day moving average price is $56.09 and its two-hundred day moving average price is $60.19. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. Spectrum Brands Holdings Inc. has a 12 month low of $50.73 and a 12 month high of $96.62. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 19.58 and a beta of 0.83.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data 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). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The business had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. During the same quarter in the previous year, the firm posted $1.13 EPS. The company's revenue for the quarter was down 10.2% compared to the same quarter last year. Sell-side analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal 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 paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, August 26th. Spectrum Brands's dividend payout ratio (DPR) is 70.15%.

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.