Congress Wealth Management LLC DE Cuts Stock Position in Spectrum Brands Holdings, Inc. (NYSE:SPB)

Congress Wealth Management LLC DE trimmed its position in Spectrum Brands Holdings, Inc. (NYSE:SPB) by 53.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,309 shares of the company’s stock after selling 13,064 shares during the period. Congress Wealth Management LLC DE’s holdings in Spectrum Brands were worth $956,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SPB. Citigroup Inc. boosted its holdings in shares of Spectrum Brands by 15.9% in the third quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after acquiring an additional 5,641 shares in the last quarter. Bank of Montreal Can lifted its position in Spectrum Brands by 34.6% in the third quarter. Bank of Montreal Can now owns 158,518 shares of the company’s stock valued at $14,867,000 after purchasing an additional 40,723 shares during the period. Quantbot Technologies LP purchased a new stake in Spectrum Brands in the 3rd quarter valued at approximately $62,000. Brooklyn Investment Group acquired a new position in Spectrum Brands during the 3rd quarter worth approximately $31,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of Spectrum Brands during the 3rd quarter worth approximately $207,000.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $71.52 on Friday. The firm has a market capitalization of $1.88 billion, a PE ratio of 17.57, a P/E/G ratio of 1.70 and a beta of 1.20. Spectrum Brands Holdings, Inc. has a 52 week low of $68.74 and a 52 week high of $96.74. The firm’s 50-day simple moving average is $77.70 and its 200 day simple moving average is $85.70. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating the consensus estimate 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 period last year, the firm earned $0.78 EPS. On average, equities research analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s payout ratio is 46.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SPB shares. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $94.00 to $102.00 in a research note on Friday, February 7th. Wells Fargo & Company lowered their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada reduced their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, UBS Group lowered their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.43.

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.