Victory Capital Management Inc. Increases Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Victory Capital Management Inc. increased its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,055 shares of the company’s stock after buying an additional 1,273 shares during the period. Victory Capital Management Inc. owned 0.08% of Spectrum Brands worth $2,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its stake in Spectrum Brands by 19.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,827 shares of the company’s stock worth $3,995,000 after buying an additional 7,227 shares in the last quarter. Caxton Associates LP bought a new stake in shares of Spectrum Brands in the 1st quarter valued at about $792,000. Bayesian Capital Management LP acquired a new stake in Spectrum Brands in the first quarter valued at approximately $335,000. Redwood Investment Management LLC grew its stake in Spectrum Brands by 3.1% during the 1st quarter. Redwood Investment Management LLC now owns 78,447 shares of the company’s stock valued at $6,983,000 after purchasing an additional 2,355 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in Spectrum Brands by 66.0% during the first quarter. Tidal Investments LLC now owns 13,778 shares of the company’s stock worth $1,226,000 after acquiring an additional 5,480 shares during the period.

Spectrum Brands Stock Performance

Shares of SPB opened at $90.45 on Monday. Spectrum Brands Holdings, Inc. has a one year low of $65.50 and a one year high of $96.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.61. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 1.58 and a beta of 1.23. The company has a 50-day moving average of $91.45 and a two-hundred day moving average of $89.69.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The business had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. On average, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.08%. The ex-dividend date is Tuesday, November 26th. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio (DPR) is presently 41.18%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPB. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Canaccord Genuity Group raised their price target on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, UBS Group upped their target price on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.38.

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.