Citigroup Inc. Has $3.91 Million Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Citigroup Inc. increased its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 15.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,048 shares of the company’s stock after buying an additional 5,641 shares during the period. Citigroup Inc. owned about 0.15% of Spectrum Brands worth $3,905,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted 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 period. Farther Finance Advisors LLC lifted its position in shares of Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after purchasing an additional 261 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of Spectrum Brands in the 3rd quarter worth approximately $27,000. State of New Jersey Common Pension Fund D lifted its position in shares of Spectrum Brands by 1.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company’s stock worth $2,043,000 after purchasing an additional 345 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of Spectrum Brands by 28.6% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $171,000 after purchasing an additional 400 shares during the period.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $94.04 on Wednesday. The firm has a market capitalization of $2.64 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.62 and a beta of 1.19. The firm has a fifty day simple moving average of $91.38 and a two-hundred day simple moving average of $89.62. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 12 month low of $70.31 and a 12 month high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 EPS. Analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.00%. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPB shares. Canaccord Genuity Group boosted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. UBS Group lifted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.