Point72 Asia Singapore Pte. Ltd. Reduces Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Point72 Asia Singapore Pte. Ltd. reduced its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 55.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,164 shares of the company’s stock after selling 3,894 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Spectrum Brands were worth $272,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SPB. Quarry LP increased its holdings in shares of Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Spectrum Brands during the second quarter worth approximately $9,670,000. Dark Forest Capital Management LP grew its stake in Spectrum Brands by 57.2% in the second quarter. Dark Forest Capital Management LP now owns 34,628 shares of the company’s stock valued at $2,976,000 after purchasing an additional 12,600 shares in the last quarter. Armistice Capital LLC increased its stake in shares of Spectrum Brands by 129.4% during the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after purchasing an additional 247,809 shares during the last quarter. Finally, Caxton Associates LP raised its holdings in Spectrum Brands by 336.6% during the second quarter. Caxton Associates LP now owns 38,832 shares of the company’s stock valued at $3,337,000 after buying an additional 29,937 shares in the last quarter.

Spectrum Brands Stock Down 1.8 %

SPB stock opened at $93.46 on Wednesday. Spectrum Brands Holdings, Inc. has a twelve month low of $65.27 and a twelve month high of $96.74. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 1.89, a P/E/G ratio of 0.34 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 business has a 50 day moving average price of $90.04 and a two-hundred day moving average price of $87.74.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). The firm had revenue of $779.40 million during 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%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. Analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on SPB shares. UBS Group upped 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. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price objective on shares of Spectrum Brands in a research note on Friday, June 7th. Wells Fargo & Company upped 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 upped their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Canaccord Genuity Group decreased their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Spectrum Brands has an average rating of “Hold” and an average target price of $101.88.

Spectrum Brands Company 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.