Victory Capital Management Inc. Sells 1,671 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Victory Capital Management Inc. reduced its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 7.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,782 shares of the company’s stock after selling 1,671 shares during the period. Victory Capital Management Inc. owned 0.07% of Spectrum Brands worth $1,700,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of Spectrum Brands by 1,615.8% during the first quarter. BNP Paribas Financial Markets now owns 55,831 shares of the company’s stock worth $4,970,000 after purchasing an additional 52,577 shares during the period. First Eagle Investment Management LLC lifted its holdings in Spectrum Brands by 154.7% in the first quarter. First Eagle Investment Management LLC now owns 126,100 shares of the company’s stock worth $11,224,000 after buying an additional 76,600 shares during the period. Redwood Investment Management LLC lifted its holdings in Spectrum Brands by 273.6% in the fourth quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock worth $6,070,000 after buying an additional 55,727 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Spectrum Brands by 50.5% in the first quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock worth $20,644,000 after buying an additional 77,835 shares during the period. Finally, Capstone Investment Advisors LLC lifted its holdings in Spectrum Brands by 369.2% in the first quarter. Capstone Investment Advisors LLC now owns 13,298 shares of the company’s stock worth $1,184,000 after buying an additional 10,464 shares during the period.

Spectrum Brands Price Performance

Shares of SPB opened at $91.81 on Thursday. The company has a market capitalization of $2.57 billion, a P/E ratio of 1.86, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $88.36 and a 200 day moving average of $87.06. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its 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 last year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, August 27th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group lowered their price objective on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a report on Friday, June 7th. Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, UBS Group lifted their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.88.

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.