Bridgefront Capital LLC acquired a new position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,395 shares of the company's stock, valued at approximately $456,000.
Other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in Spectrum Brands in the fourth quarter valued at $50,000. Blue Trust Inc. increased its stake in shares of Spectrum Brands by 46.5% during the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after acquiring an additional 375 shares during the last quarter. KBC Group NV increased its stake in shares of Spectrum Brands by 46.3% during the 4th quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after acquiring an additional 390 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in shares of Spectrum Brands during the 4th quarter worth about $237,000. Finally, City Center Advisors LLC acquired a new stake in shares of Spectrum Brands in the fourth quarter worth approximately $306,000.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on SPB shares. Royal Bank of Canada dropped their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and increased their target price for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. UBS Group lifted their target price on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday. Finally, Wells Fargo & Company dropped their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.80.
Read Our Latest Analysis on Spectrum Brands
Spectrum Brands Stock Up 5.2%
NYSE:SPB traded up $3.23 during trading hours on Monday, hitting $65.09. The stock had a trading volume of 184,100 shares, compared to its average volume of 415,468. The company has a market cap of $1.71 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The business has a 50 day simple moving average of $66.03 and a two-hundred day simple moving average of $79.08. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. Spectrum Brands Holdings, Inc. has a 1-year low of $56.50 and a 1-year high of $96.62.
Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The company had revenue of $675.70 million during the quarter, compared to analyst estimates of $701.00 million. During the same period in the prior year, the company earned $1.62 earnings per share. The company's revenue was down 6.0% on a year-over-year basis. Analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.
Spectrum Brands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.89%. Spectrum Brands's dividend payout ratio is currently 89.95%.
Spectrum Brands Profile
(
Free Report)
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.
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