Victory Capital Management Inc. Sells 1,671 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Victory Capital Management Inc. decreased its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 7.8% in the second quarter, HoldingsChannel reports. The fund owned 19,782 shares of the company’s stock after selling 1,671 shares during the quarter. Victory Capital Management Inc.’s holdings in Spectrum Brands were worth $1,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in shares of Spectrum Brands by 4.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock valued at $172,511,000 after acquiring an additional 79,322 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Spectrum Brands by 21.7% during the 1st quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after buying an additional 234,784 shares in the last quarter. Alberta Investment Management Corp lifted its stake in shares of Spectrum Brands by 7.9% during the 4th quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock valued at $59,724,000 after buying an additional 55,100 shares in the last quarter. LSV Asset Management lifted its stake in shares of Spectrum Brands by 68.9% during the 1st quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after buying an additional 304,217 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Spectrum Brands during the 4th quarter valued at $20,652,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPB. Canaccord Genuity Group lowered their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 1st. Wells Fargo & Company increased their price objective on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, August 9th. UBS Group increased their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.88.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $91.81 on Thursday. The firm has a market capitalization of $2.57 billion, a P/E ratio of 1.86, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. The company’s 50-day moving average is $88.36 and its 200 day moving average is $87.06. Spectrum Brands Holdings, Inc. has a 1-year low of $65.27 and a 1-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.

Spectrum Brands (NYSE:SPB) last issued its 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 company had revenue of $779.40 million for the quarter, compared to analysts’ expectations of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Research analysts forecast that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, August 27th. Spectrum Brands’s payout ratio is 3.40%.

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.