Arizona State Retirement System Lowers Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Arizona State Retirement System reduced its stake in Spectrum Brands Holdings, Inc. (NYSE:SPBGet Rating) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,578 shares of the company’s stock after selling 295 shares during the period. Arizona State Retirement System’s holdings in Spectrum Brands were worth $938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SPB. Victory Capital Management Inc. increased its holdings in Spectrum Brands by 56.3% in the 4th quarter. Victory Capital Management Inc. now owns 868,687 shares of the company’s stock valued at $88,363,000 after acquiring an additional 312,922 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Spectrum Brands by 1,264.8% in the 4th quarter. Renaissance Technologies LLC now owns 216,784 shares of the company’s stock worth $22,051,000 after buying an additional 200,900 shares during the last quarter. Sei Investments Co. grew its holdings in Spectrum Brands by 47.4% during the 4th quarter. Sei Investments Co. now owns 301,117 shares of the company’s stock valued at $30,706,000 after purchasing an additional 96,832 shares during the last quarter. Truist Financial Corp grew its holdings in Spectrum Brands by 58.0% during the 1st quarter. Truist Financial Corp now owns 243,663 shares of the company’s stock valued at $21,618,000 after purchasing an additional 89,441 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Spectrum Brands during the 4th quarter valued at about $8,801,000. 95.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group dropped their target price on shares of Spectrum Brands from $119.00 to $109.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. TheStreet downgraded shares of Spectrum Brands from a “b-” rating to a “c” rating in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Spectrum Brands from $114.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. Wells Fargo & Company dropped their price objective on shares of Spectrum Brands from $122.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Finally, Oppenheimer dropped their price objective on shares of Spectrum Brands from $125.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Spectrum Brands Trading Down 1.2 %

Shares of Spectrum Brands stock opened at $69.17 on Wednesday. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.64 and a quick ratio of 2.03. The firm has a fifty day moving average price of $79.43 and a 200 day moving average price of $85.72. Spectrum Brands Holdings, Inc. has a 1 year low of $63.28 and a 1 year high of $107.22. The stock has a market cap of $2.82 billion, a PE ratio of 28.00 and a beta of 1.29.

Spectrum Brands (NYSE:SPBGet Rating) last issued its earnings results on Friday, May 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. Spectrum Brands had a net margin of 3.01% and a return on equity of 6.75%. The firm had revenue of $807.30 million during the quarter, compared to analysts’ expectations of $792.32 million. During the same quarter last year, the company posted $1.76 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Spectrum Brands Holdings, Inc. will post 2.98 earnings per share for the current year.

Spectrum Brands 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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Institutional Ownership by Quarter for Spectrum Brands (NYSE:SPB)

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