Spectrum Brands Holdings, Inc. (NYSE:SPB) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 10.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,172 shares of the company’s stock after selling 3,294 shares during the period. Legal & General Group Plc’s holdings in Spectrum Brands were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in shares of Spectrum Brands by 13.6% in the 4th quarter. Invesco Ltd. now owns 81,988 shares of the company’s stock worth $6,927,000 after acquiring an additional 9,835 shares during the period. Cerity Partners LLC increased its stake in shares of Spectrum Brands by 100.8% in the fourth quarter. Cerity Partners LLC now owns 5,645 shares of the company’s stock valued at $488,000 after purchasing an additional 2,834 shares during the period. Federated Hermes Inc. raised its holdings in shares of Spectrum Brands by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 10,703 shares of the company’s stock valued at $904,000 after buying an additional 447 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Spectrum Brands during the fourth quarter worth approximately $322,000. Finally, ExodusPoint Capital Management LP grew its holdings in Spectrum Brands by 233.4% in the 4th quarter. ExodusPoint Capital Management LP now owns 88,539 shares of the company’s stock worth $7,481,000 after buying an additional 61,984 shares in the last quarter.

Spectrum Brands Stock Up 2.8 %

SPB stock opened at $62.14 on Thursday. The firm has a market cap of $1.64 billion, a PE ratio of 15.27, a P/E/G ratio of 1.70 and a beta of 1.03. Spectrum Brands Holdings, Inc. has a 12 month low of $57.66 and a 12 month high of $96.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The firm has a 50 day simple moving average of $69.61 and a 200 day simple moving average of $81.52.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a $0.47 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.03%. Spectrum Brands’s dividend payout ratio (DPR) is 46.19%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SPB shares. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, UBS Group reduced their price target on shares of Spectrum Brands from $106.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.43.

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.