Spectrum Brands Holdings, Inc. (NYSE:SPB) Stake Increased by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC increased its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 369.2% in the first quarter, Holdings Channel reports. The institutional investor owned 13,298 shares of the company’s stock after acquiring an additional 10,464 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Spectrum Brands were worth $1,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPB. Federated Hermes Inc. increased its stake in shares of Spectrum Brands by 164,450.0% in the third quarter. Federated Hermes Inc. now owns 3,291 shares of the company’s stock worth $258,000 after buying an additional 3,289 shares during the last quarter. USA Financial Formulas bought a new stake in Spectrum Brands during the third quarter valued at $101,000. Raymond James Financial Services Advisors Inc. bought a new stake in Spectrum Brands during the fourth quarter valued at $1,424,000. Assenagon Asset Management S.A. increased its stake in Spectrum Brands by 46.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 95,372 shares of the company’s stock valued at $7,608,000 after purchasing an additional 30,171 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in Spectrum Brands during the fourth quarter valued at $71,000.

Wall Street Analysts Forecast Growth

SPB has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Monness Crespi & Hardt boosted their price target on shares of Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 10th. Oppenheimer boosted their price target on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Finally, Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Spectrum Brands presently has a consensus rating of “Hold” and an average price target of $99.57.

Spectrum Brands Price Performance

SPB stock traded down $1.07 during trading on Friday, hitting $83.93. The company had a trading volume of 482,012 shares, compared to its average volume of 425,856. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 1.70, a P/E/G ratio of 0.37 and a beta of 1.19. The business has a 50 day moving average of $88.96 and a 200 day moving average of $84.16. Spectrum Brands Holdings, Inc. has a fifty-two week low of $65.27 and a fifty-two week high of $96.74. The company has a current ratio of 3.73, a quick ratio of 3.05 and a debt-to-equity ratio of 0.61.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.49 by $1.13. The business had revenue of $718.50 million during the quarter, compared to the consensus estimate of $708.54 million. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. As a group, research analysts predict that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, May 24th. Spectrum Brands’s payout ratio is currently 3.40%.

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.