Armistice Capital LLC Grows Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Armistice Capital LLC grew its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 129.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 439,377 shares of the company’s stock after acquiring an additional 247,809 shares during the quarter. Armistice Capital LLC owned about 1.57% of Spectrum Brands worth $37,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Caxton Associates LP lifted its position in Spectrum Brands by 336.6% during the second quarter. Caxton Associates LP now owns 38,832 shares of the company’s stock valued at $3,337,000 after purchasing an additional 29,937 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Spectrum Brands in the 2nd quarter worth $152,000. Marshall Wace LLP raised its position in shares of Spectrum Brands by 972.2% during the 2nd quarter. Marshall Wace LLP now owns 120,254 shares of the company’s stock valued at $10,333,000 after buying an additional 109,038 shares in the last quarter. Interval Partners LP bought a new stake in shares of Spectrum Brands during the 2nd quarter worth $2,578,000. Finally, Bank of Montreal Can grew its position in Spectrum Brands by 2,542.3% in the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock worth $10,862,000 after acquiring an additional 113,337 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, August 9th. UBS Group raised their price objective on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $114.00 price objective on shares of Spectrum Brands in a report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Spectrum Brands currently has a consensus rating of “Hold” and a consensus target price of $101.88.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $91.29 on Thursday. The stock has a market capitalization of $2.56 billion, a P/E ratio of 1.85, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.28 and a quick ratio of 1.61. The business’s 50 day simple moving average is $89.28 and its two-hundred day simple moving average is $87.43.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). The firm had revenue of $779.40 million for the quarter, compared to the consensus estimate of $750.97 million. Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. Analysts forecast that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.68 annualized dividend and a dividend yield of 1.84%. Spectrum Brands’s payout ratio is presently 3.40%.

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.