Stock Traders Purchase High Volume of Spectrum Brands Call Options (SPB)

Spectrum Brands Holdings, Inc. (NYSE:SPB) saw unusually large options trading activity on Friday. Stock investors acquired 10,085 call options on the stock. This represents an increase of 10,629% compared to the average volume of 94 call options.

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Spectrum Brands by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 1,756,257 shares of the company’s stock valued at $184,511,000 after purchasing an additional 121,573 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Spectrum Brands by 2.4% in the third quarter. Bessemer Group Inc. now owns 1,074,169 shares of the company’s stock valued at $113,776,000 after purchasing an additional 25,670 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Spectrum Brands by 7.7% in the third quarter. Schroder Investment Management Group now owns 875,847 shares of the company’s stock valued at $92,016,000 after purchasing an additional 62,944 shares during the last quarter. Check Capital Management Inc. CA grew its position in shares of Spectrum Brands by 173.8% in the third quarter. Check Capital Management Inc. CA now owns 759,562 shares of the company’s stock valued at $80,453,000 after purchasing an additional 482,162 shares during the last quarter. Finally, State Street Corp grew its position in shares of Spectrum Brands by 2.6% in the second quarter. State Street Corp now owns 569,855 shares of the company’s stock valued at $71,288,000 after purchasing an additional 14,196 shares during the last quarter. Institutional investors and hedge funds own 48.24% of the company’s stock.

Several research analysts have weighed in on SPB shares. Jefferies Group restated a “buy” rating and set a $142.00 target price on shares of Spectrum Brands in a research report on Thursday, November 16th. Wells Fargo & Co restated a “buy” rating on shares of Spectrum Brands in a research report on Wednesday, December 20th. KeyCorp set a $140.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research report on Tuesday, January 16th. BMO Capital Markets set a $132.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, Oppenheimer restated a “buy” rating and set a $167.00 target price on shares of Spectrum Brands in a research report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $142.50.

Shares of Spectrum Brands (NYSE SPB) opened at $121.34 on Monday. The company has a market cap of $6,992.34, a P/E ratio of 24.08, a PEG ratio of 1.81 and a beta of 0.76. Spectrum Brands has a 1 year low of $98.11 and a 1 year high of $146.09. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.44 and a quick ratio of 0.75.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, November 16th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.12). The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 earnings per share. sell-side analysts predict that Spectrum Brands will post 6.15 EPS for the current fiscal year.

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Spectrum Brands Company Profile

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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