Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 9.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 194,496 shares of the company’s stock after selling 19,652 shares during the period. Truist Financial Corp’s holdings in Spectrum Brands were worth $15,515,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Larson Financial Group LLC boosted its position in shares of Spectrum Brands by 72.6% in the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock worth $29,000 after acquiring an additional 151 shares during the last quarter. Arizona State Retirement System raised its holdings in Spectrum Brands by 1.4% in the third quarter. Arizona State Retirement System now owns 11,675 shares of the company’s stock valued at $915,000 after buying an additional 158 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Spectrum Brands by 53.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after buying an additional 160 shares during the period. Principal Financial Group Inc. raised its holdings in Spectrum Brands by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,156 shares of the company’s stock valued at $247,000 after buying an additional 166 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in Spectrum Brands by 0.8% in the third quarter. GSA Capital Partners LLP now owns 27,453 shares of the company’s stock valued at $2,151,000 after buying an additional 226 shares during the period.

Analyst Ratings Changes

Several research analysts recently commented on SPB shares. Monness Crespi & Hardt raised their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective 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. Canaccord Genuity Group reiterated a “hold” rating and set a $86.00 price objective (up previously from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Wells Fargo & Company lifted their price objective 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. Finally, Canaccord Genuity Group lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $83.00 to $86.00 in a research note on Friday, February 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Brands presently has a consensus rating of “Hold” and a consensus price target of $89.17.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $81.87 on Wednesday. The company has a market cap of $2.48 billion, a PE ratio of 1.78, a P/E/G ratio of 0.57 and a beta of 1.20. The company has a fifty day moving average price of $82.84 and a two-hundred day moving average price of $79.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.36 and a quick ratio of 2.75. Spectrum Brands Holdings, Inc. has a 12 month low of $64.82 and a 12 month high of $89.64.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data 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 firm had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Research analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is 3.65%.

About Spectrum Brands

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.