Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC increased its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 72.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 359 shares of the company’s stock after acquiring an additional 151 shares during the quarter. Larson Financial Group LLC’s holdings in Spectrum Brands were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPB. International Assets Investment Management LLC increased its stake in shares of Spectrum Brands by 1,713.6% in the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock worth $32,000 after buying an additional 377 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Spectrum Brands by 53.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock worth $36,000 after buying an additional 160 shares during the last quarter. Fifth Third Bancorp bought a new stake in Spectrum Brands during the fourth quarter valued at $71,000. DekaBank Deutsche Girozentrale bought a new stake in Spectrum Brands during the fourth quarter valued at $79,000. Finally, USA Financial Formulas bought a new stake in Spectrum Brands during the third quarter valued at $101,000.

Spectrum Brands Stock Up 2.8 %

SPB stock opened at $82.59 on Friday. Spectrum Brands Holdings, Inc. has a 52 week low of $64.04 and a 52 week high of $89.64. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 1.79, a price-to-earnings-growth ratio of 0.56 and a beta of 1.20. The firm’s 50-day moving average is $82.86 and its two-hundred day moving average is $79.04. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.47. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business had revenue of $692.20 million for the quarter, compared to the consensus estimate of $674.20 million. During the same period in the previous year, the firm earned ($0.32) EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts forecast that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.03%. Spectrum Brands’s payout ratio is currently 3.65%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Canaccord Genuity Group reiterated a “hold” rating and set a $86.00 target price (up previously from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Royal Bank of Canada boosted their target price on shares of Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Monness Crespi & Hardt boosted their target price on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Canaccord Genuity Group lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating and boosted their target price for the company from $83.00 to $86.00 in a research note on Friday, February 9th. Finally, Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands currently has an average rating of “Hold” and a consensus price target of $89.17.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. 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, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.