Vanguard Group Inc. Sells 129,369 Shares of Spectrum Brands Holdings Inc. $SPB

Key Points

• Vanguard Group Inc. has reduced its stake in Spectrum Brands Holdings Inc. by 4.4%, selling 129,369 shares and retaining 2,789,875 shares valued at approximately $199.6 million.
• Spectrum Brands reported earnings per share (EPS) of $1.24 for the last quarter, missing estimates, with a revenue of $699.6 million compared to the expected $742.13 million.
• The company announced a quarterly dividend of $0.47, representing a 3.3% dividend yield, with a payout ratio of 70.15%.

Vanguard Group Inc. lessened its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,789,875 shares of the company's stock after selling 129,369 shares during the quarter. Vanguard Group Inc. owned approximately 10.60% of Spectrum Brands worth $199,616,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its position in Spectrum Brands by 101.7% during the first 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 acquired a new position in Spectrum Brands during the first quarter worth approximately $118,000. Lazard Asset Management LLC increased its position in Spectrum Brands by 89.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after buying an additional 692 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Spectrum Brands during the first quarter worth approximately $253,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Spectrum Brands during the first quarter worth approximately $258,000.

Spectrum Brands Price Performance

Shares of SPB stock traded down $0.3810 during trading on Monday, hitting $56.9390. The company had a trading volume of 455,902 shares, compared to its average volume of 596,523. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The firm has a market capitalization of $1.38 billion, a P/E ratio of 21.25 and a beta of 0.86. The stock's 50-day moving average price is $55.50 and its 200 day moving average price is $62.40. Spectrum Brands Holdings Inc. has a one year low of $50.73 and a one year high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company's quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. Equities analysts expect that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors 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 3.3%. The ex-dividend date is Tuesday, August 26th. Spectrum Brands's payout ratio is 70.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPB shares. Wall Street Zen upgraded 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 stock an "outperform" rating in a report on Monday, August 11th. 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. 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. Finally, UBS Group boosted their price objective on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock 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.