Point72 Asia Singapore Pte. Ltd. Has $272,000 Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Point72 Asia Singapore Pte. Ltd. reduced its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 55.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,164 shares of the company’s stock after selling 3,894 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Spectrum Brands were worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new stake in Spectrum Brands in the first quarter valued at approximately $27,000. Central Pacific Bank Trust Division acquired a new position in shares of Spectrum Brands in the 1st quarter valued at about $30,000. Versant Capital Management Inc boosted its position in shares of Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after purchasing an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Spectrum Brands during the first quarter worth approximately $42,000. Finally, Quarry LP increased its holdings in Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after purchasing an additional 450 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on SPB. Wells Fargo & Company increased their price target on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Canaccord Genuity Group dropped their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 1st. UBS Group increased their price objective on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a research report on Friday, June 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.88.

Spectrum Brands Stock Down 1.8 %

SPB stock opened at $93.46 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 1.89, a PEG ratio of 0.34 and a beta of 1.22. Spectrum Brands Holdings, Inc. has a fifty-two week low of $65.27 and a fifty-two week high of $96.74. The stock has a fifty day moving average of $90.04 and a 200-day moving average of $87.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The company had revenue of $779.40 million during the quarter, compared to the consensus estimate of $750.97 million. During the same period in the previous year, the business earned $0.75 earnings per share. Spectrum Brands’s revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.80%. Spectrum Brands’s dividend payout ratio is currently 3.40%.

About Spectrum Brands

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.