Teza Capital Management LLC Has $208,000 Stake 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 lessened its stake in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 76.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,913 shares of the company's stock after selling 9,685 shares during the quarter. Teza Capital Management LLC's holdings in Spectrum Brands were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Spectrum Brands by 7.5% in the 1st quarter. American Century Companies Inc. now owns 1,319,420 shares of the company's stock valued at $94,405,000 after acquiring an additional 92,418 shares in the last quarter. Alberta Investment Management Corp increased its position in Spectrum Brands by 33.1% in the 1st quarter. Alberta Investment Management Corp now owns 750,029 shares of the company's stock valued at $53,665,000 after acquiring an additional 186,729 shares in the last quarter. Callodine Capital Management LP increased its position in Spectrum Brands by 38.4% in the 1st quarter. Callodine Capital Management LP now owns 730,000 shares of the company's stock valued at $52,232,000 after acquiring an additional 202,500 shares in the last quarter. Armistice Capital LLC increased its position in Spectrum Brands by 20.0% in the 1st quarter. Armistice Capital LLC now owns 691,000 shares of the company's stock valued at $49,441,000 after acquiring an additional 115,143 shares in the last quarter. Finally, LSV Asset Management increased its position in Spectrum Brands by 2.7% in the 1st quarter. LSV Asset Management now owns 662,475 shares of the company's stock valued at $47,400,000 after acquiring an additional 17,445 shares in the last quarter.

Spectrum Brands Trading Down 2.7%

NYSE SPB traded down $1.47 during trading on Friday, reaching $53.43. 267,940 shares of the stock traded hands, compared to its average volume of 376,625. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 19.94 and a beta of 0.83. The stock's 50-day moving average price is $56.09 and its 200 day moving average price is $60.31. 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 fifty-two week low of $50.73 and a fifty-two week high of $96.62.

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 analysts' consensus estimates of $1.25 by ($0.01). The firm had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. Analysts predict that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, August 26th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a yield of 3.5%. Spectrum Brands's payout ratio is presently 70.15%.

Wall Street Analysts Forecast Growth

SPB has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of 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. Wall Street Zen upgraded shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Canaccord Genuity Group lowered their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the stock an "outperform" rating in a research report on Monday, August 11th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Spectrum Brands currently has an average rating of "Moderate Buy" and a consensus price target of $74.80.

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.