AXQ Capital LP Decreases Stock Holdings in Spectrum Brands Holdings Inc. $SPB

AXQ Capital LP lowered its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 34.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,143 shares of the company’s stock after selling 2,711 shares during the quarter. AXQ Capital LP’s holdings in Spectrum Brands were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Spectrum Brands by 13.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock valued at $94,000 after acquiring an additional 215 shares during the last quarter. GAMMA Investing LLC raised its position in Spectrum Brands by 120.3% during the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. lifted its stake in shares of Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock valued at $56,000 after purchasing an additional 328 shares during the last quarter. MQS Management LLC lifted its stake in shares of Spectrum Brands by 13.6% in the 2nd quarter. MQS Management LLC now owns 5,365 shares of the company’s stock valued at $284,000 after purchasing an additional 642 shares during the last quarter. Finally, Humankind Investments LLC boosted its holdings in shares of Spectrum Brands by 13.9% in the 1st quarter. Humankind Investments LLC now owns 5,814 shares of the company’s stock worth $416,000 after purchasing an additional 710 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. Canaccord Genuity Group increased their target price on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the stock an “outperform” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a report on Wednesday, November 19th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Spectrum Brands Trading Down 0.1%

NYSE SPB opened at $57.31 on Tuesday. The stock has a market cap of $1.34 billion, a PE ratio of 14.47 and a beta of 0.82. Spectrum Brands Holdings Inc. has a 12 month low of $49.99 and a 12 month high of $96.62. The company’s 50-day moving average price is $53.85 and its 200-day moving average price is $55.54. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, November 13th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $1.84. The company had revenue of $733.50 million during the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Equities research analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be issued a $0.47 dividend. The ex-dividend date is Monday, November 24th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.3%. Spectrum Brands’s payout ratio is presently 47.47%.

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.