Spectrum Brands Holdings Inc. (NYSE:SPB) had its price target lifted by Monness Crespi & Hardt from $138.00 to $151.00 in a research report sent to investors on Thursday. They currently have a buy rating on the stock.
Several other equities research analysts have also recently weighed in on the company. Deutsche Bank AG reiterated a buy rating and issued a $140.00 price objective (up previously from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Jefferies Group reiterated a buy rating on shares of Spectrum Brands Holdings in a report on Thursday, August 25th. Zacks Investment Research upgraded Spectrum Brands Holdings from a hold rating to a buy rating and set a $131.00 price objective for the company in a report on Saturday, June 18th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a report on Thursday, September 1st. They issued an overweight rating and a $147.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average price target of $142.33.
Spectrum Brands Holdings (NYSE:SPB) opened at 136.34 on Thursday. The stock has a market cap of $8.10 billion, a PE ratio of 27.70 and a beta of 0.77. Spectrum Brands Holdings has a 12 month low of $87.65 and a 12 month high of $137.73. The company’s 50 day moving average price is $131.61 and its 200 day moving average price is $119.65.
Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.04. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The business earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business posted $1.42 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Spectrum Brands Holdings will post $0.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 16th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, August 12th. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 32.69%.
In related news, SVP Stacey L. Neu sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total transaction of $102,432.00. Following the completion of the transaction, the senior vice president now owns 3,850 shares of the company’s stock, valued at approximately $492,954. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David M. Maura acquired 2,000 shares of Spectrum Brands Holdings stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average cost of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. Corporate insiders own 0.95% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Check Capital Management Inc. CA raised its position in Spectrum Brands Holdings by 7.8% in the first quarter. Check Capital Management Inc. CA now owns 213,043 shares of the company’s stock worth $23,281,000 after buying an additional 15,334 shares during the period. Mckinley Capital Management LLC Delaware raised its position in Spectrum Brands Holdings by 2.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 79,249 shares of the company’s stock worth $8,660,000 after buying an additional 1,590 shares during the period. JPMorgan Chase & Co. raised its position in Spectrum Brands Holdings by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 1,105,965 shares of the company’s stock worth $120,860,000 after buying an additional 108,842 shares during the period. Alpine Partners VI LLC bought a new position in Spectrum Brands Holdings during the first quarter worth $1,226,000. Finally, Credit Agricole S A raised its position in Spectrum Brands Holdings by 542.6% in the first quarter. Credit Agricole S A now owns 393,711 shares of the company’s stock worth $43,025,000 after buying an additional 332,446 shares during the period. 45.41% of the stock is owned by institutional investors.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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