Dark Forest Capital Management LP Has $2.98 Million Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Dark Forest Capital Management LP grew its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 57.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,628 shares of the company’s stock after purchasing an additional 12,600 shares during the period. Spectrum Brands comprises about 0.5% of Dark Forest Capital Management LP’s holdings, making the stock its 25th largest position. Dark Forest Capital Management LP’s holdings in Spectrum Brands were worth $2,976,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its stake in shares of Spectrum Brands by 24.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock valued at $104,000 after purchasing an additional 240 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Spectrum Brands during the first quarter valued at about $27,000. Central Pacific Bank Trust Division bought a new position in Spectrum Brands during the first quarter valued at about $30,000. Versant Capital Management Inc raised its stake in shares of Spectrum Brands by 1,923.8% in the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after acquiring an additional 404 shares in the last quarter. Finally, Anchor Capital Advisors LLC lifted its holdings in Spectrum Brands by 3.0% in the 2nd quarter. Anchor Capital Advisors LLC now owns 15,536 shares of the company’s stock worth $1,335,000 after purchasing an additional 448 shares during the last quarter.

Wall Street Analyst Weigh In

SPB has been the topic of several analyst reports. UBS Group increased their price target on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Canaccord Genuity Group decreased their price target on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 1st. Wells Fargo & Company lifted their price objective on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.88.

Spectrum Brands Stock Down 1.7 %

Shares of SPB opened at $91.29 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.28. The company has a 50-day simple moving average of $89.28 and a 200-day simple moving average of $87.43. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $96.74. The firm has a market capitalization of $2.56 billion, a P/E ratio of 1.85, a P/E/G ratio of 0.33 and a beta of 1.22.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $750.97 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.84%. Spectrum Brands’s payout ratio is 3.40%.

Spectrum Brands 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.