AQR Capital Management LLC Trims Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

AQR Capital Management LLC lowered its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 23.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,453 shares of the company’s stock after selling 47,247 shares during the quarter. AQR Capital Management LLC owned approximately 0.56% of Spectrum Brands worth $13,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in shares of Spectrum Brands by 24.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock worth $104,000 after purchasing an additional 240 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Spectrum Brands during the first quarter valued at approximately $27,000. Central Pacific Bank Trust Division bought a new position in Spectrum Brands during the 1st quarter worth approximately $30,000. Versant Capital Management Inc grew its position in shares of Spectrum Brands by 1,923.8% in the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after acquiring an additional 404 shares in the last quarter. Finally, Anchor Capital Advisors LLC increased its holdings in shares of Spectrum Brands by 3.0% in the 2nd quarter. Anchor Capital Advisors LLC now owns 15,536 shares of the company’s stock valued at $1,335,000 after acquiring an additional 448 shares during the last quarter.

Analysts Set New Price Targets

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

Spectrum Brands Stock Down 1.8 %

Shares of Spectrum Brands stock opened at $93.46 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. Spectrum Brands Holdings, Inc. has a 1-year low of $65.27 and a 1-year high of $96.74. The business’s fifty day moving average price is $89.85 and its two-hundred day moving average price is $87.67. The company has a market capitalization of $2.62 billion, a P/E ratio of 1.89, a PEG ratio of 0.34 and a beta of 1.22.

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

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, August 27th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

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.