Vanguard Group Inc. Sells 40,178 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Vanguard Group Inc. reduced its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,679,829 shares of the company’s stock after selling 40,178 shares during the quarter. Vanguard Group Inc. owned about 12.16% of Spectrum Brands worth $293,540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Alberta Investment Management Corp boosted its position in shares of Spectrum Brands by 7.9% during the 4th quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock valued at $59,724,000 after acquiring an additional 55,100 shares during the last quarter. LSV Asset Management bought a new position in shares of Spectrum Brands during the 4th quarter valued at approximately $35,216,000. Great Lakes Advisors LLC boosted its position in shares of Spectrum Brands by 50.0% during the 4th quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after acquiring an additional 108,076 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Spectrum Brands by 1,376.7% during the 3rd quarter. AQR Capital Management LLC now owns 320,091 shares of the company’s stock valued at $25,079,000 after acquiring an additional 298,415 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Spectrum Brands during the 4th quarter valued at approximately $20,652,000.

Spectrum Brands Stock Performance

SPB stock opened at $85.93 on Friday. The company has a quick ratio of 3.05, a current ratio of 3.73 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $88.49 and its two-hundred day simple moving average is $83.97. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 1.74, a PEG ratio of 0.37 and a beta of 1.18.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The business had revenue of $718.50 million for the quarter, compared to analyst estimates of $708.54 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Analysts predict that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, May 24th. Spectrum Brands’s payout ratio is 3.40%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Monness Crespi & Hardt increased their price target on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 10th. Wells Fargo & Company increased their price target on Spectrum Brands from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft increased their price target on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Finally, Canaccord Genuity Group increased their price target on Spectrum Brands from $86.00 to $92.00 and gave the company a “hold” rating in a report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $99.86.

Spectrum Brands Profile

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.