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

Wealthfront Advisers LLC purchased a new stake in Spectrum Brands Holdings, Inc. (NYSE:SPB) in the fourth quarter, HoldingsChannel reports. The firm purchased 196,543 shares of the company’s stock, valued at approximately $16,606,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in Spectrum Brands during the third quarter worth approximately $31,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at about $50,000. Farther Finance Advisors LLC lifted its position in shares of 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 in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Spectrum Brands during the third quarter worth about $62,000. Finally, Quarry LP raised its position in shares of Spectrum Brands by 70.9% in the 3rd quarter. Quarry LP now owns 974 shares of the company’s stock valued at $93,000 after purchasing an additional 404 shares in the last quarter.

Wall Street Analyst Weigh In

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

Spectrum Brands Stock Performance

Shares of SPB opened at $73.25 on Wednesday. The firm has a market cap of $1.93 billion, a PE ratio of 18.00, a PEG ratio of 1.70 and a beta of 1.20. The stock’s fifty day moving average price is $80.92 and its two-hundred day moving average price is $87.48. Spectrum Brands Holdings, Inc. has a 1 year low of $73.05 and a 1 year high of $96.74. 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 (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter last year, the business posted $0.78 EPS. On average, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

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

Spectrum Brands Company 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.