Spectrum Brands Holdings, Inc. (NYSE:SPB) Stake Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 16.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,363 shares of the company’s stock after selling 15,230 shares during the period. JPMorgan Chase & Co. owned 0.28% of Spectrum Brands worth $7,360,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Choreo LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter worth $252,000. Headlands Technologies LLC acquired a new position in Spectrum Brands during the second quarter worth about $50,000. DekaBank Deutsche Girozentrale lifted its holdings in Spectrum Brands by 24.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock valued at $104,000 after acquiring an additional 240 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Spectrum Brands by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 10,480 shares of the company’s stock valued at $901,000 after purchasing an additional 860 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Spectrum Brands in the 2nd quarter worth approximately $237,000.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $84.11 on Wednesday. The company’s fifty day moving average is $88.98 and its two-hundred day moving average is $89.08. The company has a market cap of $2.36 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a 12-month low of $75.50 and a 12-month high of $96.74. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26.

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

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.24%. Spectrum Brands’s dividend payout ratio is currently 46.08%.

Wall Street Analyst Weigh In

SPB has been the subject of several recent research reports. Canaccord Genuity Group increased their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company cut their price objective on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Brands presently has an average rating of “Moderate Buy” and a consensus price target of $102.13.

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.