Public Employees Retirement Association of Colorado Sells 663 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Public Employees Retirement Association of Colorado cut its stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,301 shares of the company’s stock after selling 663 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Spectrum Brands were worth $284,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new stake in Spectrum Brands in the 4th quarter valued at about $579,000. Norges Bank bought a new stake in shares of Spectrum Brands during the fourth quarter valued at approximately $20,652,000. Franklin Resources Inc. boosted its holdings in shares of Spectrum Brands by 20.8% in the fourth quarter. Franklin Resources Inc. now owns 31,175 shares of the company’s stock valued at $2,487,000 after purchasing an additional 5,375 shares during the period. Capstone Investment Advisors LLC bought a new position in Spectrum Brands in the fourth quarter worth approximately $226,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Spectrum Brands during the 4th quarter worth $3,525,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPB. Wells Fargo & Company upped 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. Canaccord Genuity Group dropped their target price on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, July 1st. Royal Bank of Canada restated an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. 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 research note on Friday, August 9th. Finally, UBS Group boosted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s 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 Trading Up 0.9 %

NYSE SPB opened at $93.79 on Friday. Spectrum Brands Holdings, Inc. has a 52 week low of $65.27 and a 52 week high of $96.74. The company has a 50 day moving average price of $89.64 and a 200 day moving average price of $87.54. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.63 billion, a PE ratio of 1.90, a price-to-earnings-growth 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 analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The business had revenue of $779.40 million for the quarter, compared to analyst estimates of $750.97 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 4.78 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, August 27th. Spectrum Brands’s dividend payout ratio (DPR) is presently 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.