Spectrum Brands Holdings, Inc. (SPB) Position Boosted by Swiss National Bank
Swiss National Bank lifted its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,200 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Swiss National Bank owned 0.17% of Spectrum Brands worth $10,925,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of SPB. Royal Bank of Canada grew its holdings in shares of Spectrum Brands by 125.2% during the second quarter. Royal Bank of Canada now owns 24,106 shares of the company’s stock worth $3,015,000 after purchasing an additional 13,404 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Spectrum Brands by 46,677.8% during the second quarter. Macquarie Group Ltd. now owns 8,420 shares of the company’s stock worth $1,052,000 after purchasing an additional 8,402 shares in the last quarter. State Street Corp grew its holdings in shares of Spectrum Brands by 2.6% during the second quarter. State Street Corp now owns 569,855 shares of the company’s stock worth $71,288,000 after purchasing an additional 14,196 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Spectrum Brands by 20.3% during the second quarter. Cubist Systematic Strategies LLC now owns 2,766 shares of the company’s stock worth $346,000 after purchasing an additional 466 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Spectrum Brands during the third quarter worth about $530,000. 48.28% of the stock is owned by institutional investors.
Several research analysts have recently commented on the company. Oppenheimer reissued a “buy” rating and set a $167.00 price objective on shares of Spectrum Brands in a report on Monday, November 20th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $132.00 target price on shares of Spectrum Brands in a research note on Thursday, February 8th. BMO Capital Markets cut their target price on Spectrum Brands from $132.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, February 13th. UBS Group upped their target price on Spectrum Brands from $124.00 to $140.00 in a research note on Tuesday, January 16th. Finally, Zacks Investment Research raised Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $140.60.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. The firm had revenue of $646.50 million during the quarter, compared to analyst estimates of $1.26 billion. Spectrum Brands had a return on equity of 14.51% and a net margin of 8.80%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 4.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is presently 25.04%.
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About Spectrum Brands
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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