New York State Common Retirement Fund Reduces Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

New York State Common Retirement Fund lowered its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 86.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,462 shares of the company's stock after selling 220,981 shares during the period. New York State Common Retirement Fund owned 0.11% of Spectrum Brands worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Spectrum Brands by 1,713.6% in the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company's stock valued at $32,000 after buying an additional 377 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Spectrum Brands by 53.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company's stock valued at $36,000 after acquiring an additional 160 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Spectrum Brands during the 4th quarter valued at $71,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Spectrum Brands during the 4th quarter worth $79,000. Finally, USA Financial Formulas acquired a new position in Spectrum Brands in the third quarter valued at about $101,000.

Analyst Ratings Changes

Several research firms recently issued reports on SPB. Canaccord Genuity Group reiterated a "hold" rating and set a $86.00 price target (up previously from $83.00) on shares of Spectrum Brands in a research report on Friday, February 9th. Monness Crespi & Hardt increased their price objective on Spectrum Brands from $87.00 to $98.00 and gave the company a "buy" rating in a report on Friday, February 9th. Canaccord Genuity Group cut Spectrum Brands from a "buy" rating to a "hold" rating and increased their price target for the company from $83.00 to $86.00 in a research note on Friday, February 9th. Royal Bank of Canada lifted their price objective on Spectrum Brands from $89.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, February 9th. Finally, Wells Fargo & Company raised their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $89.17.

Spectrum Brands Stock Down 0.1 %

SPB stock traded down $0.09 during midday trading on Tuesday, reaching $85.30. 270,730 shares of the company's stock traded hands, compared to its average volume of 363,453. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 1.85, a P/E/G ratio of 0.58 and a beta of 1.20. The firm's fifty day moving average price is $83.12 and its 200-day moving average price is $79.37. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $89.64. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.31 by $0.47. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The company had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

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.