Point72 Asia Singapore Pte. Ltd. Sells 3,894 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Point72 Asia Singapore Pte. Ltd. decreased its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 55.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,164 shares of the company’s stock after selling 3,894 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Spectrum Brands were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in Spectrum Brands in the second quarter valued at approximately $152,000. Marshall Wace LLP raised its stake 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 worth $10,333,000 after purchasing an additional 109,038 shares in the last quarter. Interval Partners LP acquired a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $2,578,000. Bank of Montreal Can grew its stake in shares of Spectrum Brands by 2,542.3% in the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock valued at $10,862,000 after buying an additional 113,337 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Spectrum Brands by 1,227.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,474 shares of the company’s stock worth $125,000 after buying an additional 1,363 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Canaccord Genuity Group lowered their price target on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 1st. UBS Group raised their price objective on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, 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 report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.88.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $92.98 on Friday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 1.88, a PEG ratio of 0.33 and a beta of 1.22. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Spectrum Brands Holdings, Inc. has a 12 month low of $65.27 and a 12 month high of $96.74. The stock’s 50 day moving average is $89.28 and its 200-day moving average is $87.43.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The firm had revenue of $779.40 million during the quarter, compared to analyst estimates of $750.97 million. During the same period in the prior year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect 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 was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, August 27th. Spectrum Brands’s dividend payout ratio is currently 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.