XTX Topco Ltd Sells 13,456 Shares of Spectrum Brands Holdings Inc. (NYSE:SPB)

Key Points

• XTX Topco Ltd has reduced its stake in Spectrum Brands Holdings Inc. by 71.9% in the first quarter, leaving it with 5,254 shares valued at approximately $376,000.
• Several institutional investors, including Callodine Capital Management and Man Group plc, have significantly increased their holdings in Spectrum Brands during the fourth quarter.
• Despite reporting a miss in earnings per share for the last quarter, Spectrum Brands has declared a quarterly dividend of $0.47, leading to an annualized dividend yield of 3.3%.

XTX Topco Ltd cut its position in Spectrum Brands Holdings Inc. (NYSE:SPB - Free Report) by 71.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,254 shares of the company's stock after selling 13,456 shares during the quarter. XTX Topco Ltd's holdings in Spectrum Brands were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. lifted its stake in Spectrum Brands by 10.9% in the 1st quarter. Federated Hermes Inc. now owns 11,873 shares of the company's stock worth $850,000 after purchasing an additional 1,170 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Spectrum Brands by 23.0% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,162 shares of the company's stock valued at $2,874,000 after buying an additional 7,523 shares in the last quarter. Bailard Inc. purchased a new stake in shares of Spectrum Brands during the 1st quarter valued at $644,000. Victory Capital Management Inc. raised its position in shares of Spectrum Brands by 162.0% during the 1st quarter. Victory Capital Management Inc. now owns 60,600 shares of the company's stock valued at $4,336,000 after buying an additional 37,467 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Spectrum Brands during the 1st quarter valued at $1,001,000.

Insider Buying and Selling

In related news, CEO David M. Maura sold 5,180 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $63.77, for a total transaction of $330,328.60. Following the sale, the chief executive officer owned 718,427 shares of the company's stock, valued at $45,814,089.79. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.90% of the stock is owned by insiders.

Spectrum Brands Trading Down 0.9%

Shares of SPB traded down $0.50 during trading hours on Friday, reaching $56.36. 566,093 shares of the company traded hands, compared to its average volume of 609,203. The company's fifty day moving average price is $55.11 and its two-hundred day moving average price is $64.43. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 21.03 and a beta of 0.86. 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.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). The company had revenue of $699.60 million for 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 revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 EPS. Equities research analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 annualized dividend and a yield of 3.3%. Spectrum Brands's payout ratio is presently 89.95%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SPB. Wells Fargo & Company lowered their price objective on shares of Spectrum Brands from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 9th. UBS Group raised their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Monness Crespi & Hardt decreased their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Canaccord Genuity Group decreased their target price on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Spectrum Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.80.

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.