Y Intercept Hong Kong Ltd Trims Stake in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Y Intercept Hong Kong Ltd cut its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 37.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,749 shares of the company’s stock after selling 1,658 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Spectrum Brands were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SPB. Ieq Capital LLC acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at approximately $562,000. State of New Jersey Common Pension Fund D boosted its stake in Spectrum Brands by 8.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 23,257 shares of the company’s stock worth $1,965,000 after purchasing an additional 1,780 shares during the period. Legato Capital Management LLC grew its position in Spectrum Brands by 2.2% during the 4th quarter. Legato Capital Management LLC now owns 9,299 shares of the company’s stock worth $786,000 after purchasing an additional 198 shares during the last quarter. Summit Trail Advisors LLC acquired a new position in Spectrum Brands in the fourth quarter valued at $237,000. Finally, Entropy Technologies LP purchased a new stake in shares of Spectrum Brands in the fourth quarter valued at about $865,000.

Wall Street Analysts Forecast Growth

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

Spectrum Brands Price Performance

Spectrum Brands stock opened at $73.37 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. Spectrum Brands Holdings, Inc. has a one year low of $73.12 and a one year high of $96.74. The company has a market cap of $1.93 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The business has a fifty day moving average of $81.94 and a two-hundred day moving average of $88.07.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.02 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 in the prior year, the company earned $0.78 EPS. As a group, analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is currently 46.19%.

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.