Jupiter Topco LLC Buys Shares of 8,808 Spectrum Brands Holdings Inc. $SPB

Jupiter Topco LLC bought a new stake in Spectrum Brands Holdings Inc. (NYSE:SPB) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 8,808 shares of the company’s stock, valued at approximately $756,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPB. Gamco Investors INC. ET AL boosted its position in shares of Spectrum Brands by 8.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company’s stock worth $20,919,000 after acquiring an additional 28,569 shares in the last quarter. LSV Asset Management lifted its stake in Spectrum Brands by 2.9% during the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock worth $35,624,000 after purchasing an additional 17,100 shares during the last quarter. PEAK6 LLC bought a new stake in Spectrum Brands during the second quarter worth $2,955,000. Pacer Advisors Inc. acquired a new stake in shares of Spectrum Brands in the 4th quarter valued at $6,242,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Spectrum Brands in the 1st quarter valued at $2,224,000.

Spectrum Brands Stock Up 0.2%

Shares of NYSE:SPB opened at $88.70 on Monday. The company has a fifty day moving average of $87.60 and a 200-day moving average of $82.03. The company has a market capitalization of $2.04 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $99.06.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The company had revenue of $753.30 million for the quarter, compared to the consensus estimate of $732.19 million. During the same quarter last year, the business posted $1.24 EPS. Spectrum Brands’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts predict that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be given a $0.47 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.88 annualized dividend and a yield of 2.1%. Spectrum Brands’s dividend payout ratio (DPR) is currently 57.32%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPB shares. Wells Fargo & Company boosted their price target on Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Royal Bank Of Canada lowered Spectrum Brands from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Wall Street Zen upgraded Spectrum Brands from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group boosted their target price on Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Oppenheimer increased their target price on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $98.83.

About Spectrum Brands

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.