Spectrum Brands Holdings Inc. $SPB Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,617,081 shares of the company’s stock after selling 173,574 shares during the period. Vanguard Group Inc. owned approximately 10.81% of Spectrum Brands worth $137,475,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SPB. American Century Companies Inc. boosted its holdings in Spectrum Brands by 35.9% during the second quarter. American Century Companies Inc. now owns 1,792,765 shares of the company’s stock worth $95,017,000 after buying an additional 473,345 shares in the last quarter. Callodine Capital Management LP grew its holdings in shares of Spectrum Brands by 85.5% in the 2nd quarter. Callodine Capital Management LP now owns 1,354,057 shares of the company’s stock worth $71,765,000 after acquiring an additional 624,057 shares during the period. Geode Capital Management LLC increased its stake in Spectrum Brands by 39.6% in the 2nd quarter. Geode Capital Management LLC now owns 606,272 shares of the company’s stock valued at $32,137,000 after purchasing an additional 172,132 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Spectrum Brands by 71.2% during the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after purchasing an additional 224,481 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Spectrum Brands by 9.6% during the second quarter. First Trust Advisors LP now owns 411,803 shares of the company’s stock worth $21,826,000 after purchasing an additional 35,955 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPB. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Oppenheimer lifted their price objective on Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Canaccord Genuity Group raised their price target on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Spectrum Brands Trading Down 0.7%

NYSE SPB opened at $78.13 on Wednesday. The company has a market cap of $1.81 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.65 and a beta of 0.64. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $80.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.21 and a quick ratio of 1.38. The company has a 50-day moving average of $68.23 and a 200-day moving average of $59.99.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.63. The firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $667.59 million. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. Spectrum Brands’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.02 earnings per share. As a group, equities analysts predict that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $1.88 dividend on an annualized basis and a yield of 2.4%. Spectrum Brands’s dividend payout ratio (DPR) is presently 43.42%.

Spectrum Brands Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.