Geode Capital Management LLC Trims Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Geode Capital Management LLC decreased its stake in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 4.9% during the third quarter, HoldingsChannel.com reports. The firm owned 440,614 shares of the company’s stock after selling 22,748 shares during the period. Geode Capital Management LLC’s holdings in Spectrum Brands were worth $41,932,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SPB. Allspring Global Investments Holdings LLC grew its position in shares of Spectrum Brands by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after purchasing an additional 112,530 shares in the last quarter. Pzena Investment Management LLC grew its position in Spectrum Brands by 10.4% during the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock worth $124,715,000 after buying an additional 123,733 shares in the last quarter. State Street Corp increased its stake in Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after acquiring an additional 7,783 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Spectrum Brands by 7.6% in the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after acquiring an additional 36,063 shares in the last quarter. Finally, Armistice Capital LLC boosted its position in shares of Spectrum Brands by 129.4% during the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after acquiring an additional 247,809 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $102.38.

Spectrum Brands Trading Down 0.0 %

Shares of SPB opened at $84.72 on Wednesday. The firm has a 50 day moving average price of $91.01 and a 200-day moving average price of $89.62. Spectrum Brands Holdings, Inc. has a fifty-two week low of $75.50 and a fifty-two week high of $96.74. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The company had revenue of $773.70 million for the quarter, compared to the consensus estimate of $747.80 million. During the same quarter in the previous year, the business earned $1.36 earnings per share. Spectrum Brands’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were issued a dividend of $0.47 per share. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Tuesday, November 26th. Spectrum Brands’s dividend payout ratio is currently 46.08%.

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.