Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lessened its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,080,699 shares of the company's stock after selling 28,908 shares during the quarter. Pzena Investment Management LLC owned 3.50% of Spectrum Brands worth $86,207,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SPB. Alberta Investment Management Corp increased its stake in shares of Spectrum Brands by 14.0% in the 3rd quarter. Alberta Investment Management Corp now owns 693,600 shares of the company's stock worth $54,344,000 after purchasing an additional 85,000 shares in the last quarter. LSV Asset Management purchased a new position in shares of Spectrum Brands during the 4th quarter valued at about $35,216,000. Great Lakes Advisors LLC grew its stake in shares of Spectrum Brands by 50.0% during the 4th quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company's stock valued at $25,878,000 after acquiring an additional 108,076 shares during the period. AQR Capital Management LLC increased its holdings in Spectrum Brands by 1,376.7% in the 3rd quarter. AQR Capital Management LLC now owns 320,091 shares of the company's stock worth $25,079,000 after acquiring an additional 298,415 shares in the last quarter. Finally, Norges Bank bought a new stake in Spectrum Brands during the 4th quarter worth approximately $20,652,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SPB shares. Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $86.00 to $92.00 and gave the stock a "hold" rating in a research note on Friday, May 10th. Canaccord Genuity Group downgraded Spectrum Brands from a "buy" rating to a "hold" rating and boosted their price objective for the company from $83.00 to $86.00 in a research report on Friday, February 9th. Monness Crespi & Hardt increased their target price on Spectrum Brands from $98.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, May 10th. Royal Bank of Canada boosted their price target on Spectrum Brands from $100.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, May 10th. Finally, Oppenheimer increased their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Spectrum Brands currently has a consensus rating of "Hold" and a consensus target price of $99.86.

Spectrum Brands Price Performance

SPB traded down $2.02 during trading hours on Wednesday, hitting $92.54. The company's stock had a trading volume of 684,869 shares, compared to its average volume of 404,102. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 1.86, a P/E/G ratio of 0.41 and a beta of 1.20. The business's 50-day moving average price is $85.50 and its 200-day moving average price is $80.67. The company has a current ratio of 3.73, a quick ratio of 3.05 and a debt-to-equity ratio of 0.61. Spectrum Brands Holdings, Inc. has a 12 month low of $65.27 and a 12 month high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $1.13. The company had revenue of $718.50 million for the quarter, compared to analysts' expectations of $708.54 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.14) earnings per share. Sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, May 24th. Spectrum Brands's dividend payout ratio (DPR) is currently 3.40%.

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.