Northern Trust Corp Sells 9,732 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Northern Trust Corp trimmed its position in Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 5.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 180,530 shares of the company's stock after selling 9,732 shares during the period. Northern Trust Corp owned about 0.66% of Spectrum Brands worth $15,253,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in Spectrum Brands in the fourth quarter valued at about $50,000. Blue Trust Inc. boosted its stake in shares of Spectrum Brands by 46.5% in the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after purchasing an additional 375 shares during the last quarter. KBC Group NV boosted its stake in shares of Spectrum Brands by 46.3% in the 4th quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after purchasing an additional 390 shares during the last quarter. Summit Trail Advisors LLC bought a new position in shares of Spectrum Brands in the 4th quarter valued at about $237,000. Finally, Fox Run Management L.L.C. boosted its stake in shares of Spectrum Brands by 5.3% in the 4th quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock valued at $308,000 after purchasing an additional 185 shares during the last quarter.

Wall Street Analyst Weigh In

SPB has been the topic of a number of recent research reports. Monness Crespi & Hardt reduced their price objective on shares of Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada reduced their target price on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. UBS Group raised their target price on Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and raised their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.17.

Spectrum Brands Stock Performance

SPB stock opened at $64.98 on Thursday. The business's 50-day moving average price is $65.53 and its two-hundred day moving average price is $78.74. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.71 billion, a PE ratio of 15.97, a P/E/G ratio of 1.70 and a beta of 1.00. Spectrum Brands Holdings, Inc. has a 1-year low of $56.50 and a 1-year high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The business had revenue of $675.70 million for the quarter, compared to the consensus estimate of $701.00 million. During the same quarter last year, the firm earned $1.62 EPS. The company's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Spectrum Brands's payout ratio is currently 89.95%.

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.

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