Insider Selling: Spectrum Brands Holdings CFO Sells 10,615 Shares of Stock (SPB)
Spectrum Brands Holdings (NYSE:SPB) CFO Anthony L. Genito unloaded 10,615 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $87.00, for a total transaction of $923,505.00. Following the completion of the transaction, the chief financial officer now directly owns 49,490 shares of the company’s stock, valued at approximately $4,305,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Spectrum Brands Holdings (NYSE:SPB) traded down 0.73% on Wednesday, hitting $86.00. The stock had a trading volume of 118,423 shares. Spectrum Brands Holdings has a one year low of $59.27 and a one year high of $88.40. The stock’s 50-day moving average is $84.82 and its 200-day moving average is $80.00. The company has a market cap of $4.535 billion and a price-to-earnings ratio of 35.22.
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 declared 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 1.40%. The ex-dividend date is Friday, August 15th.
A number of research firms have recently commented on SPB. 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $91.00.
Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company.
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