Citigroup Inc. Boosts Stock Holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Citigroup Inc. grew its position in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 15.9% during the third quarter, Holdings Channel.com reports. The fund owned 41,048 shares of the company’s stock after purchasing an additional 5,641 shares during the quarter. Citigroup Inc.’s holdings in Spectrum Brands were worth $3,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Waldron Private Wealth LLC purchased a new position in shares of Spectrum Brands in the 3rd quarter worth about $27,000. International Assets Investment Management LLC boosted its holdings in shares of Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after buying an additional 471 shares during the last quarter. Quarry LP boosted its holdings in shares of Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after buying an additional 450 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Spectrum Brands in the 2nd quarter worth about $50,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after buying an additional 261 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SPB shares. Canaccord Genuity Group boosted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company upped their price target on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped 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. Finally, UBS Group upped their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Spectrum Brands presently has an average rating of “Hold” and a consensus price target of $102.38.

Spectrum Brands Stock Up 1.1 %

Shares of SPB opened at $94.04 on Wednesday. The firm has a market cap of $2.64 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.62 and a beta of 1.19. The stock has a 50 day simple moving average of $91.38 and a two-hundred day simple moving average of $89.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. Spectrum Brands Holdings, Inc. has a 1 year low of $70.31 and a 1 year high of $96.74.

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

Spectrum Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, November 26th. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio is 46.08%.

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.