Northern Trust Corp Sells 9,732 Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB)

Northern Trust Corp cut its holdings in shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,530 shares of the company’s stock after selling 9,732 shares during the quarter. Northern Trust Corp’s holdings in Spectrum Brands were worth $15,253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its position in Spectrum Brands by 1.7% during the 4th quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock worth $112,654,000 after buying an additional 22,484 shares in the last quarter. Callodine Capital Management LP raised its holdings in Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock worth $44,568,000 after acquiring an additional 121,000 shares in the last quarter. FIL Ltd raised its holdings in Spectrum Brands by 8.7% during the fourth quarter. FIL Ltd now owns 461,568 shares of the company’s stock worth $38,998,000 after acquiring an additional 36,798 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock worth $38,089,000 after acquiring an additional 7,198 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Spectrum Brands by 7.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 223,423 shares of the company’s stock worth $18,877,000 after purchasing an additional 15,703 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPB shares. Monness Crespi & Hardt dropped their price objective on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group upped their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $94.00 to $102.00 in a report on Friday, February 7th. Royal Bank of Canada dropped their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Spectrum Brands Stock Down 3.1%

SPB opened at $64.98 on Thursday. The stock has a market cap of $1.71 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The stock’s fifty day simple moving average is $65.53 and its 200 day simple moving average is $78.74. Spectrum Brands Holdings, Inc. has a 1-year low of $56.50 and a 1-year high of $96.62. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.67). The company had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. Spectrum Brands’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 earnings per share. As a group, research analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 annualized dividend and a yield of 2.89%. Spectrum Brands’s dividend payout ratio is currently 89.95%.

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.