Hsbc Holdings PLC Acquires 17,900 Shares of Spectrum Brands Holdings Inc. $SPB

Hsbc Holdings PLC grew its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 41.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,157 shares of the company’s stock after purchasing an additional 17,900 shares during the period. Hsbc Holdings PLC’s holdings in Spectrum Brands were worth $5,208,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Amundi bought a new stake in shares of Spectrum Brands in the first quarter valued at approximately $176,000. Millennium Management LLC increased its stake in Spectrum Brands by 64.7% during the 1st quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after acquiring an additional 65,424 shares during the period. NewEdge Advisors LLC raised its holdings in Spectrum Brands by 173.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock valued at $386,000 after acquiring an additional 3,415 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Spectrum Brands by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock valued at $28,125,000 after acquiring an additional 114,143 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Spectrum Brands by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock valued at $7,983,000 after acquiring an additional 6,321 shares during the period.

Spectrum Brands Trading Down 1.8%

Shares of SPB opened at $85.87 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. Spectrum Brands Holdings Inc. has a 52-week low of $49.99 and a 52-week high of $99.06. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 2.76 and a beta of 0.65. The business’s fifty day moving average is $87.69 and its 200-day moving average is $82.23.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $1.33. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The business had revenue of $753.30 million during the quarter, compared to analysts’ expectations of $732.19 million. During the same period in the prior year, the company earned $1.24 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Spectrum Brands Holdings Inc. will post 6.38 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 annualized dividend and a yield of 2.2%. Spectrum Brands’s payout ratio is 57.32%.

Analysts Set New Price Targets

A number of brokerages recently commented on SPB. Monness Crespi & Hardt raised their price target on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Canaccord Genuity Group upped their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Oppenheimer increased their price objective on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Weiss Ratings lowered shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Spectrum Brands has a consensus rating of “Hold” and an average price target of $98.83.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.