Russell Investments Group Ltd. cut its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 28.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 123,319 shares of the company’s stock after selling 47,999 shares during the period. Russell Investments Group Ltd.’s holdings in Spectrum Brands Holdings were worth $15,420,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Spectrum Brands Holdings during the second quarter valued at $100,000. Invictus RG acquired a new stake in shares of Spectrum Brands Holdings during the first quarter valued at $156,000. TD Asset Management Inc. acquired a new stake in shares of Spectrum Brands Holdings during the first quarter valued at $211,000. Fulton Bank N.A. acquired a new stake in shares of Spectrum Brands Holdings during the first quarter valued at $214,000. Finally, Cypress Asset Management Inc. TX acquired a new stake in shares of Spectrum Brands Holdings during the first quarter valued at $217,000. Institutional investors and hedge funds own 48.15% of the company’s stock.
Shares of Spectrum Brands Holdings, Inc. (NYSE SPB) traded down 0.05% during trading on Thursday, hitting $110.75. 117,264 shares of the stock traded hands. The stock has a 50-day moving average of $121.27 and a 200 day moving average of $131.89. Spectrum Brands Holdings, Inc. has a 1-year low of $108.30 and a 1-year high of $146.09. The company has a market cap of $6.43 billion, a P/E ratio of 22.68 and a beta of 0.66.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by $0.21. Spectrum Brands Holdings had a return on equity of 17.46% and a net margin of 5.87%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts predict that Spectrum Brands Holdings, Inc. will post $5.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, August 11th. Spectrum Brands Holdings’s payout ratio is 34.29%.
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Several analysts have weighed in on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 27th. BidaskClub cut shares of Spectrum Brands Holdings from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. BMO Capital Markets set a $155.00 price objective on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $150.00 price objective (down previously from $165.00) on shares of Spectrum Brands Holdings in a research note on Thursday, July 6th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $131.00 price objective (down previously from $149.00) on shares of Spectrum Brands Holdings in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $143.88.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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