Insider Selling: Anthony L. Genito Sells 6,416 Shares of Spectrum Brands Holdings Stock (SPB)
Spectrum Brands Holdings (NYSE:SPB) CFO Anthony L. Genito unloaded 6,416 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $87.03, for a total transaction of $558,384.48. Following the sale, the chief financial officer now directly owns 86,189 shares of the company’s stock, valued at approximately $7,501,029. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Spectrum Brands Holdings (NYSE:SPB) traded down 1.07% during mid-day trading on Wednesday, hitting $85.81. 198,143 shares of the company’s stock traded hands. Spectrum Brands Holdings has a one year low of $59.27 and a one year high of $88.39. The stock’s 50-day moving average is $84.61 and its 200-day moving average is $79.08. The company has a market cap of $4.525 billion and a P/E ratio of 35.26.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Wednesday, July 30th. The company reported $1.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.29 by $0.01. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts predict that Spectrum Brands Holdings will post $4.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Investors of record on Tuesday, August 19th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, August 15th.
A number of analysts have recently weighed in on SPB shares. Analysts at Barclays reiterated a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 31st. They now have a $92.00 price target on the stock, up previously from $90.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Spectrum Brands Holdings in a research note on Thursday, July 31st. They now have a $85.00 price target on the stock, up previously from $77.00. Finally, analysts at BMO Capital Markets raised their price target on shares of Spectrum Brands Holdings from $2.00 to $96.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $91.00.
Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company.
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