Insider Selling: Spectrum Brands Holdings CFO Unloads 26,084 Shares of Stock (SPB)
Spectrum Brands Holdings (NYSE:SPB) CFO Anthony L. Genito sold 26,084 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $87.11, for a total value of $2,272,177.24. Following the sale, the chief financial officer now directly owns 60,105 shares in the company, valued at approximately $5,235,747. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Spectrum Brands Holdings (NYSE:SPB) traded down 0.53% during mid-day trading on Wednesday, hitting $86.24. 108,927 shares of the company’s stock traded hands. Spectrum Brands Holdings has a 52-week low of $59.27 and a 52-week high of $88.40. The stock has a 50-day moving average of $84.8 and a 200-day moving average of $79.63. The company has a market cap of $4.548 billion and a price-to-earnings ratio of 35.24.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Wednesday, July 30th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that Spectrum Brands Holdings will post $4.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders 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 1.39%. 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Spectrum Brands Holdings 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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