Genesee Capital Advisors LLC cut its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB – Get Rating) by 13.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,258 shares of the company's stock after selling 3,216 shares during the period. Spectrum Brands makes up approximately 1.2% of Genesee Capital Advisors LLC's investment portfolio, making the stock its 20th largest position. Genesee Capital Advisors LLC's holdings in Spectrum Brands were worth $1,662,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Spectrum Brands by 194.0% in the 1st quarter. Invesco Ltd. now owns 1,514,530 shares of the company's stock valued at $134,369,000 after buying an additional 999,459 shares during the last quarter. American Century Companies Inc. grew its position in shares of Spectrum Brands by 14.5% during the 1st quarter. American Century Companies Inc. now owns 2,255,826 shares of the company's stock worth $200,137,000 after buying an additional 285,748 shares during the period. Cardinal Capital Management LLC CT grew its position in shares of Spectrum Brands by 25.2% during the 1st quarter. Cardinal Capital Management LLC CT now owns 1,404,956 shares of the company's stock worth $124,648,000 after buying an additional 282,821 shares during the period. Eminence Capital LP grew its position in shares of Spectrum Brands by 80.4% during the 1st quarter. Eminence Capital LP now owns 399,457 shares of the company's stock worth $35,440,000 after buying an additional 178,084 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Spectrum Brands by 32.4% during the 1st quarter. Bank of New York Mellon Corp now owns 649,240 shares of the company's stock worth $57,599,000 after buying an additional 158,953 shares during the period.
Get Spectrum Brands alerts:Spectrum Brands Stock Performance
Shares of NYSE SPB traded up $0.15 during mid-day trading on Wednesday, reaching $41.31. 4,905 shares of the company's stock were exchanged, compared to its average volume of 760,044. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 16.25 and a beta of 1.30. Spectrum Brands Holdings, Inc. has a 52 week low of $40.46 and a 52 week high of $107.22. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.66 and a quick ratio of 2.02. The firm has a 50-day moving average price of $63.01 and a two-hundred day moving average price of $77.47.
Spectrum Brands (NYSE:SPB – Get Rating) last announced its quarterly earnings data on Friday, August 12th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.42 by ($0.88). Spectrum Brands had a net margin of 3.41% and a return on equity of 3.85%. The firm had revenue of $818.00 million during the quarter, compared to the consensus estimate of $917.88 million. During the same quarter in the prior year, the firm posted $1.57 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. Analysts predict that Spectrum Brands Holdings, Inc. will post 1.27 EPS for the current year.Spectrum Brands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Tuesday, August 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Monday, August 29th. Spectrum Brands's dividend payout ratio is currently 65.88%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Spectrum Brands from $90.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, September 16th. Raymond James began coverage on shares of Spectrum Brands in a research report on Tuesday, July 12th. They issued a "market perform" rating for the company. Royal Bank of Canada dropped their price objective on Spectrum Brands from $120.00 to $109.00 and set an "outperform" rating on the stock in a research note on Monday, August 15th. UBS Group dropped their price objective on Spectrum Brands from $109.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, August 15th. Finally, Monness Crespi & Hardt dropped their price objective on Spectrum Brands from $100.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, September 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $87.00.
Spectrum Brands Company Profile
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Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.
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