Pacific Grove Capital LP acquired a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 21,000 shares of the company’s stock, valued at approximately $2,360,000.
A number of other large investors have also added to or reduced their stakes in the business. Macquarie Group Ltd. bought a new position in shares of Spectrum Brands during the fourth quarter worth approximately $432,000. Jane Street Group LLC increased its stake in shares of Spectrum Brands by 62.9% during the fourth quarter. Jane Street Group LLC now owns 260,190 shares of the company’s stock worth $29,245,000 after purchasing an additional 100,503 shares during the period. Verition Fund Management LLC increased its stake in shares of Spectrum Brands by 30.4% during the fourth quarter. Verition Fund Management LLC now owns 2,494 shares of the company’s stock worth $280,000 after purchasing an additional 581 shares during the period. Millennium Management LLC increased its stake in shares of Spectrum Brands by 296.7% during the fourth quarter. Millennium Management LLC now owns 717,699 shares of the company’s stock worth $80,669,000 after purchasing an additional 536,798 shares during the period. Finally, Newbrook Capital Advisors LP bought a new position in shares of Spectrum Brands during the fourth quarter worth approximately $76,729,000. Hedge funds and other institutional investors own 48.28% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Wells Fargo set a $120.00 target price on Spectrum Brands and gave the stock a “buy” rating in a research note on Sunday, March 11th. BMO Capital Markets lowered their target price on Spectrum Brands from $132.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. KeyCorp set a $140.00 price target on Spectrum Brands and gave the stock a “buy” rating in a research report on Tuesday, January 16th. UBS increased their price target on Spectrum Brands from $124.00 to $140.00 in a research report on Tuesday, January 16th. Finally, Oppenheimer reissued a “buy” rating on shares of Spectrum Brands in a research report on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Spectrum Brands currently has a consensus rating of “Buy” and an average price target of $140.60.
Shares of Spectrum Brands Holdings, Inc. (NYSE SPB) opened at $95.79 on Friday. The stock has a market capitalization of $5,544.33, a P/E ratio of 20.69, a P/E/G ratio of 1.50 and a beta of 0.84. Spectrum Brands Holdings, Inc. has a 12-month low of $91.78 and a 12-month high of $146.09. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.19 and a current ratio of 2.70.
Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.12. The business had revenue of $646.50 million for the quarter, compared to the consensus estimate of $1.26 billion. Spectrum Brands had a return on equity of 14.51% and a net margin of 8.80%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. analysts forecast that Spectrum Brands Holdings, Inc. will post 4.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 20th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio is presently 25.04%.
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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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