Raymond James Financial Inc. Invests $972,000 in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Raymond James Financial Inc. purchased a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,504 shares of the company's stock, valued at approximately $972,000.

Several other institutional investors have also modified their holdings of SPB. Barclays PLC grew its position in Spectrum Brands by 71.4% in the 3rd quarter. Barclays PLC now owns 35,407 shares of the company's stock valued at $3,369,000 after acquiring an additional 14,746 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Spectrum Brands by 2.6% during the third quarter. Franklin Resources Inc. now owns 14,792 shares of the company's stock worth $1,356,000 after buying an additional 381 shares in the last quarter. City Center Advisors LLC acquired a new position in shares of Spectrum Brands during the fourth quarter worth about $306,000. West Oak Capital LLC grew its position in shares of Spectrum Brands by 1.4% during the fourth quarter. West Oak Capital LLC now owns 27,359 shares of the company's stock worth $2,312,000 after buying an additional 375 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Spectrum Brands by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock worth $1,141,000 after buying an additional 11,166 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on SPB. Royal Bank of Canada lowered their price objective on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. UBS Group upped their price target on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday. Finally, Wells Fargo & Company lowered their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.80.

Spectrum Brands Price Performance

Spectrum Brands stock traded down $2.27 during trading hours on Friday, hitting $61.83. The stock had a trading volume of 663,349 shares, compared to its average volume of 416,345. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.19, a PEG 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. The stock's fifty day moving average is $66.03 and its two-hundred day moving average is $79.08.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). The company had revenue of $675.70 million for the quarter, compared to analyst estimates of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The firm's revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 EPS. As a group, analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 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 17th. Stockholders of record on Tuesday, May 27th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.04%. Spectrum Brands's dividend payout ratio (DPR) is 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.