Spectrum Brands Holdings Target of Unusually Large Options Trading (SPB)
Spectrum Brands Holdings, Inc. (NYSE:SPB) was the target of some unusual options trading on Wednesday. Stock investors purchased 8,098 put options on the stock. This represents an increase of Infinity compared to the average volume of 0 put options.
A number of institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. increased its holdings in Spectrum Brands Holdings by 2.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,074,169 shares of the company’s stock worth $113,776,000 after acquiring an additional 25,670 shares during the period. Pettee Investors Inc. bought a new position in shares of Spectrum Brands Holdings in the 3rd quarter worth $615,000. Stoneridge Investment Partners LLC bought a new position in shares of Spectrum Brands Holdings in the 3rd quarter worth $214,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Spectrum Brands Holdings by 1.9% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 44,026 shares of the company’s stock worth $4,663,000 after buying an additional 800 shares during the last quarter. Finally, Channing Capital Management LLC bought a new position in shares of Spectrum Brands Holdings in the 3rd quarter worth $16,769,000. 46.11% of the stock is currently owned by institutional investors and hedge funds.
SPB has been the topic of several recent research reports. Royal Bank Of Canada set a $155.00 price objective on Spectrum Brands Holdings and gave the company a “buy” rating in a research report on Friday, July 28th. KeyCorp set a $130.00 price objective on Spectrum Brands Holdings and gave the company a “buy” rating in a research report on Monday, October 16th. Jefferies Group LLC restated a “buy” rating and issued a $143.00 price objective on shares of Spectrum Brands Holdings in a research report on Thursday, October 12th. Zacks Investment Research downgraded Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $125.00 target price (down from $147.00) on shares of Spectrum Brands Holdings in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Spectrum Brands Holdings currently has an average rating of “Buy” and a consensus price target of $140.13.
Spectrum Brands Holdings (NYSE SPB) opened at $104.04 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.95 and a current ratio of 1.88. The firm has a market capitalization of $6.04 billion, a PE ratio of 18.88, a P/E/G ratio of 1.68 and a beta of 0.75. Spectrum Brands Holdings has a 12-month low of $98.11 and a 12-month high of $146.09.
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About Spectrum Brands Holdings
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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