Virginia Retirement Systems ET AL lowered its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 52.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,800 shares of the company’s stock after selling 27,300 shares during the period. Virginia Retirement Systems ET AL’s holdings in Spectrum Brands were worth $2,627,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of SPB. Daiwa Securities Group Inc. boosted its stake in Spectrum Brands by 33.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in Spectrum Brands in the 2nd quarter worth about $113,000. Toronto Dominion Bank boosted its stake in Spectrum Brands by 244.3% in the 3rd quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock worth $119,000 after buying an additional 794 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Spectrum Brands in the 2nd quarter worth about $187,000. Finally, SG Americas Securities LLC boosted its stake in Spectrum Brands by 50.6% in the 2nd quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock worth $198,000 after buying an additional 533 shares during the last quarter. 48.32% of the stock is currently owned by institutional investors and hedge funds.
SPB has been the topic of a number of research analyst reports. KeyCorp set a $130.00 price target on Spectrum Brands and gave the stock a “buy” rating in a research note on Monday, October 16th. Jefferies Group reissued a “buy” rating and issued a $143.00 price target on shares of Spectrum Brands in a research note on Thursday, October 12th. Canaccord Genuity reissued a “buy” rating on shares of Spectrum Brands in a research note on Thursday, September 28th. Oppenheimer reissued a “buy” rating and issued a $167.00 price target on shares of Spectrum Brands in a research note on Wednesday, August 30th. Finally, Gabelli raised Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Spectrum Brands has an average rating of “Buy” and a consensus price target of $137.25.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, November 16th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.12). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. sell-side analysts anticipate that Spectrum Brands Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 28th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, November 27th. Spectrum Brands’s dividend payout ratio is currently 33.33%.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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