Spectrum Brands Holdings, Inc. (NYSE:SPB) Holdings Decreased by Wellington Management Group LLP (2024)

Posted by ABMN Staff on Jun 24th, 2024

Wellington Management Group LLP reduced its holdings in Spectrum Brands Holdings, Inc. (NYSE:SPB – Free Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 551,317 shares of the company’s stock after selling 5,409 shares during the period. Wellington Management Group LLP’s holdings in Spectrum Brands were worth $43,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SPB. Redwood Investment Management LLC lifted its position in Spectrum Brands by 273.6% in the 4th quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock worth $6,070,000 after buying an additional 55,727 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Spectrum Brands during the fourth quarter valued at $1,146,000. Campbell & CO Investment Adviser LLC purchased a new position in Spectrum Brands in the fourth quarter valued at about $3,525,000. Alberta Investment Management Corp increased its position in Spectrum Brands by 7.9% in the 4th quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock worth $59,724,000 after purchasing an additional 55,100 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Spectrum Brands during the 4th quarter worth about $226,000.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Oppenheimer increased their target price on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a research report on Friday, June 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $99.86.

Get Our Latest Stock Report on Spectrum Brands

Spectrum Brands Stock Performance

Shares of SPB opened at $89.32 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.73 and a quick ratio of 3.05. Spectrum Brands Holdings, Inc. has a one year low of $65.27 and a one year high of $96.74. The company’s fifty day moving average price is $87.80 and its 200 day moving average price is $83.64. The company has a market capitalization of $2.60 billion, a PE ratio of 1.81, a price-to-earnings-growth ratio of 0.39 and a beta of 1.18.

Spectrum Brands (NYSE:SPB – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The business had revenue of $718.50 million for the quarter, compared to analyst estimates of $708.54 million. During the same period in the previous year, the company posted ($0.14) earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts expect that Spectrum Brands Holdings, Inc. will post 4.68 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.68 annualized dividend and a dividend yield of 1.88%. Spectrum Brands’s payout ratio is 3.40%.