Point72 Hong Kong Ltd Acquires New Shares in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Point72 Hong Kong Ltd acquired a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the second quarter, Holdings Channel reports. The institutional investor acquired 1,767 shares of the company’s stock, valued at approximately $152,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Spectrum Brands by 4.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock worth $172,511,000 after acquiring an additional 79,322 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Spectrum Brands by 21.7% in the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock worth $117,091,000 after acquiring an additional 234,784 shares in the last quarter. Alberta Investment Management Corp increased its holdings in shares of Spectrum Brands by 7.9% in the fourth quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock worth $59,724,000 after acquiring an additional 55,100 shares in the last quarter. LSV Asset Management increased its holdings in shares of Spectrum Brands by 68.9% in the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock worth $66,373,000 after acquiring an additional 304,217 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Spectrum Brands in the fourth quarter worth about $20,652,000.

Analysts Set New Price Targets

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

Spectrum Brands Stock Performance

SPB opened at $92.98 on Friday. Spectrum Brands Holdings, Inc. has a 12-month low of $65.27 and a 12-month high of $96.74. The stock has a market cap 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 business has a 50 day moving average of $89.28 and a 200-day moving average of $87.43. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.10 earnings per share (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 business had revenue of $779.40 million during the quarter, compared to analyst estimates of $750.97 million. During the same period in the previous year, the business earned $0.75 earnings per share. The business’s quarterly 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.42 per share. 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 1.81%. Spectrum Brands’s dividend payout ratio (DPR) 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.