Wealthfront Advisers LLC Acquires New Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Wealthfront Advisers LLC acquired a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 196,543 shares of the company’s stock, valued at approximately $16,606,000. Wealthfront Advisers LLC owned about 0.72% of Spectrum Brands at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Spectrum Brands in the third quarter worth $31,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Spectrum Brands during the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC boosted its position in Spectrum Brands by 92.2% during the third quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after purchasing an additional 261 shares during the period. Quantbot Technologies LP purchased a new position in Spectrum Brands in the 3rd quarter valued at approximately $62,000. Finally, Quarry LP grew its holdings in Spectrum Brands by 70.9% during the 3rd quarter. Quarry LP now owns 974 shares of the company’s stock valued at $93,000 after buying an additional 404 shares in the last quarter.

Spectrum Brands Stock Down 1.3 %

SPB stock opened at $73.25 on Wednesday. The company has a market capitalization of $1.93 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The firm’s fifty day simple moving average is $80.92 and its 200-day simple moving average is $87.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. Spectrum Brands Holdings, Inc. has a 12 month low of $73.05 and a 12 month high of $96.74.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter last year, the business earned $0.78 earnings per share. As a group, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Analyst Ratings Changes

Several research analysts recently issued reports on SPB shares. Wells Fargo & Company cut their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. UBS Group decreased their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Finally, Royal Bank of Canada cut their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Spectrum Brands has a consensus rating of “Moderate Buy” and an average price target of $103.43.

About Spectrum Brands

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.