California Public Employees Retirement System increased its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,441 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. California Public Employees Retirement System owned 0.08% of Spectrum Brands worth $4,995,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank raised its position in Spectrum Brands by 244.3% in the third quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock worth $119,000 after acquiring an additional 794 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Spectrum Brands in the fourth quarter worth $202,000. Parametrica Management Ltd purchased a new position in Spectrum Brands in the fourth quarter worth $300,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Spectrum Brands in the third quarter worth $323,000. Finally, Commerce Bank raised its position in Spectrum Brands by 32.4% in the third quarter. Commerce Bank now owns 3,045 shares of the company’s stock worth $323,000 after acquiring an additional 745 shares in the last quarter. 48.28% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on SPB. Royal Bank of Canada reiterated a “buy” rating and issued a $155.00 price objective on shares of Spectrum Brands in a research report on Wednesday, November 15th. BMO Capital Markets dropped their price target on Spectrum Brands from $132.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, February 13th. Jefferies Group restated a “buy” rating and issued a $145.00 price target on shares of Spectrum Brands in a research report on Tuesday, January 9th. Wells Fargo & Co restated a “buy” rating on shares of Spectrum Brands in a research report on Tuesday, January 16th. Finally, KeyCorp set a $130.00 price target on Spectrum Brands and gave the company a “buy” rating in a research report on Friday, November 17th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $140.60.
Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. The business had revenue of $646.50 million during the quarter, compared to analysts’ expectations of $1.26 billion. Spectrum Brands had a return on equity of 14.51% and a net margin of 8.80%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 4.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 20th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, February 16th. Spectrum Brands’s dividend payout ratio is presently 25.04%.
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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