US Bancorp DE Sells 549 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

US Bancorp DE trimmed its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 41.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 781 shares of the company’s stock after selling 549 shares during the period. US Bancorp DE’s holdings in Spectrum Brands were worth $66,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its holdings in Spectrum Brands by 10.4% during the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after purchasing an additional 123,733 shares during the last quarter. State Street Corp grew its holdings in Spectrum Brands by 1.3% during the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock valued at $56,154,000 after purchasing an additional 7,783 shares during the last quarter. Wellington Management Group LLP grew its holdings in Spectrum Brands by 7.6% during the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after purchasing an additional 36,063 shares during the last quarter. Systematic Financial Management LP grew its holdings in Spectrum Brands by 7.5% during the 3rd quarter. Systematic Financial Management LP now owns 346,005 shares of the company’s stock valued at $32,919,000 after purchasing an additional 24,083 shares during the last quarter. Finally, Harvey Partners LLC bought a new position in Spectrum Brands during the 3rd quarter valued at about $19,837,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $94.00 to $102.00 in a research report on Friday, February 7th. UBS Group lowered their price objective on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their price objective on shares of 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.43.

Spectrum Brands Price Performance

Shares of SPB opened at $72.46 on Tuesday. The company has a 50 day moving average price of $79.93 and a 200-day moving average price of $86.89. Spectrum Brands Holdings, Inc. has a fifty-two week low of $69.85 and a fifty-two week high of $96.74. The stock has a market capitalization of $1.91 billion, a PE ratio of 17.80, a PEG ratio of 1.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.59%. Spectrum Brands’s payout ratio is presently 46.19%.

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.