Raymond James Financial Inc. Makes New Investment in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Raymond James Financial Inc. bought a new stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,504 shares of the company’s stock, valued at approximately $972,000.

A number of other large investors have also recently made changes to their positions in SPB. Proficio Capital Partners LLC bought a new position in Spectrum Brands in the fourth quarter worth approximately $2,463,000. Victory Capital Management Inc. increased its stake in shares of Spectrum Brands by 9.9% during the fourth quarter. Victory Capital Management Inc. now owns 23,133 shares of the company’s stock valued at $1,955,000 after buying an additional 2,078 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock valued at $38,089,000 after acquiring an additional 7,198 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Spectrum Brands in the fourth quarter worth about $50,000. Finally, Anchor Capital Advisors LLC grew its holdings in Spectrum Brands by 1.2% during the 4th quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company’s stock worth $1,318,000 after acquiring an additional 184 shares in the last quarter.

Spectrum Brands Stock Performance

Shares of SPB opened at $62.35 on Friday. Spectrum Brands Holdings, Inc. has a 12 month low of $61.95 and a 12 month high of $96.74. The stock has a fifty day moving average price of $75.72 and a 200-day moving average price of $84.79. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.64 billion, a PE ratio of 15.32, a P/E/G ratio of 1.70 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last issued 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 return on equity of 6.44% and a net margin of 4.01%. During the same period in the prior year, the firm earned $0.78 earnings per share. Equities research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 3.02%. Spectrum Brands’s payout ratio is 46.19%.

Analysts Set New Price Targets

Several research firms have recently commented on SPB. Royal Bank of Canada reduced their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Wells Fargo & Company cut their price target on Spectrum Brands from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, UBS Group decreased their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Spectrum Brands has an average rating of “Moderate Buy” and an average price target of $101.57.

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.